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Here's Why Axon Enterprise (AXON) Gained But Lagged the Market Today September 11, 2024
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The latest trading session saw Axon Enterprise (AXON - Free Report) ending at $361.71, denoting a +0.66% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 1.07%. Elsewhere, the Dow saw an upswing of 0.31%, while the tech-heavy Nasdaq appreciated by 2.17%.
Shares of the maker of stun guns and body cameras witnessed a loss of 2.61% over the previous month, trailing the performance of the Industrial Products sector with its gain of 0.75% and the S&P 500's gain of 2.92%.
Investors will be eagerly watching for the performance of Axon Enterprise in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.21, marking a 18.63% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $526.43 million, reflecting a 27.28% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.91 per share and a revenue of $2.04 billion, representing changes of +18.6% and +30.55%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Axon Enterprise. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Axon Enterprise is currently a Zacks Rank #3 (Hold).
Looking at valuation, Axon Enterprise is presently trading at a Forward P/E ratio of 73.23. This denotes a premium relative to the industry's average Forward P/E of 22.17.
Also, we should mention that AXON has a PEG ratio of 3.52. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. AXON's industry had an average PEG ratio of 2.11 as of yesterday's close.
The Security and Safety Services industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 94, this industry ranks in the top 38% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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The latest trading session saw Axon Enterprise (AXON - Free Report) ending at $361.71, denoting a +0.66% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 1.07%. Elsewhere, the Dow saw an upswing of 0.31%, while the tech-heavy Nasdaq appreciated by 2.17%.
Shares of the maker of stun guns and body cameras witnessed a loss of 2.61% over the previous month, trailing the performance of the Industrial Products sector with its gain of 0.75% and the S&P 500's gain of 2.92%.
Investors will be eagerly watching for the performance of Axon Enterprise in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.21, marking a 18.63% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $526.43 million, reflecting a 27.28% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.91 per share and a revenue of $2.04 billion, representing changes of +18.6% and +30.55%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Axon Enterprise. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Axon Enterprise is currently a Zacks Rank #3 (Hold).
Looking at valuation, Axon Enterprise is presently trading at a Forward P/E ratio of 73.23. This denotes a premium relative to the industry's average Forward P/E of 22.17.
Also, we should mention that AXON has a PEG ratio of 3.52. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. AXON's industry had an average PEG ratio of 2.11 as of yesterday's close.
The Security and Safety Services industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 94, this industry ranks in the top 38% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.