Axon Enterprise (AXON) Sees a More Significant Dip Than Broader Market: Some Facts to Know

In the latest trading session, Axon Enterprise (AXON) closed at $750.67, marking a -1.33% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.13%. At the same time, the Dow lost 0.27%, and the tech-heavy Nasdaq lost 0.07%. The stock of maker of stun guns and body cameras has fallen by 3.89% in the past month, lagging the Aerospace sector's gain of 2.92% and the S&P 500's gain of 2.71%.The investment community will be paying close attention to the earnings performance of Axon Enterprise in its upcoming release. The company is predicted to post an EPS of $1.65, indicating a 13.79% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $698.22 million, indicating a 28.28% growth compared to the corresponding quarter of the prior year. For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.93 per share and a revenue of $2.71 billion, signifying shifts of +16.67% and +30.25%, respectively, from the last year. Investors might also notice recent changes to analyst estimates for Axon Enterprise. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system. The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Axon Enterprise possesses a Zacks Rank of #3 (Hold). Valuation is also important, so investors should note that Axon Enterprise has a Forward P/E ratio of 109.78 right now. This represents a premium compared to its industry average Forward P/E of 35.56. It's also important to note that AXON currently trades at a PEG ratio of 3.84. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Aerospace - Defense Equipment industry stood at 2.28 at the close of the market yesterday. The Aerospace - Defense Equipment industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 49, positioning it in the top 20% of all 250+ industries. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Axon Enterprise, Inc (AXON): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks