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Why Axon Enterprise (AXON) Dipped More Than Broader Market Today
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Axon Enterprise (AXON - Free Report) closed the latest trading day at $304.72, indicating a -1.39% change from the previous session's end. This change lagged the S&P 500's 0.5% loss on the day. Elsewhere, the Dow saw an upswing of 0.5%, while the tech-heavy Nasdaq depreciated by 1.28%.
Shares of the maker of stun guns and body cameras witnessed a gain of 6.84% over the previous month, beating the performance of the Industrial Products sector with its gain of 4.4% and the S&P 500's gain of 0.1%.
Analysts and investors alike will be keeping a close eye on the performance of Axon Enterprise in its upcoming earnings disclosure. The company's earnings report is set to go public on August 6, 2024. On that day, Axon Enterprise is projected to report earnings of $1.06 per share, which would represent a year-over-year decline of 4.5%. Simultaneously, our latest consensus estimate expects the revenue to be $476.92 million, showing a 27.31% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.64 per share and revenue of $1.98 billion. These totals would mark changes of +12.08% and +26.86%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Axon Enterprise. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Axon Enterprise is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Axon Enterprise is presently being traded at a Forward P/E ratio of 66.61. This signifies a premium in comparison to the average Forward P/E of 24.45 for its industry.
We can also see that AXON currently has a PEG ratio of 3.53. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Security and Safety Services industry stood at 2.19 at the close of the market yesterday.
The Security and Safety Services industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 105, positioning it in the top 42% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Why Axon Enterprise (AXON) Dipped More Than Broader Market Today
Axon Enterprise (AXON - Free Report) closed the latest trading day at $304.72, indicating a -1.39% change from the previous session's end. This change lagged the S&P 500's 0.5% loss on the day. Elsewhere, the Dow saw an upswing of 0.5%, while the tech-heavy Nasdaq depreciated by 1.28%.
Shares of the maker of stun guns and body cameras witnessed a gain of 6.84% over the previous month, beating the performance of the Industrial Products sector with its gain of 4.4% and the S&P 500's gain of 0.1%.
Analysts and investors alike will be keeping a close eye on the performance of Axon Enterprise in its upcoming earnings disclosure. The company's earnings report is set to go public on August 6, 2024. On that day, Axon Enterprise is projected to report earnings of $1.06 per share, which would represent a year-over-year decline of 4.5%. Simultaneously, our latest consensus estimate expects the revenue to be $476.92 million, showing a 27.31% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.64 per share and revenue of $1.98 billion. These totals would mark changes of +12.08% and +26.86%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Axon Enterprise. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Axon Enterprise is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Axon Enterprise is presently being traded at a Forward P/E ratio of 66.61. This signifies a premium in comparison to the average Forward P/E of 24.45 for its industry.
We can also see that AXON currently has a PEG ratio of 3.53. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Security and Safety Services industry stood at 2.19 at the close of the market yesterday.
The Security and Safety Services industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 105, positioning it in the top 42% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.