Axon Enterprise stock outperforms market indices; earnings report awaited

Axon Enterprise (NASDAQ:), a leading manufacturer of stun guns and body cameras, closed at $207.15 on Wednesday, marking a 1.3% increase from the previous trading session. This gain outpaced the S&P 500’s 1.05% rise, Dow’s 0.67% uptick, and Nasdaq’s 1.64% addition.

Over the past month, AXON’s stock has seen an impressive surge of 6.47%, significantly outperforming both the Industrial Products sector’s 5.03% loss and S&P 500’s 2.21% decline.

The investor community is keenly awaiting AXON’s upcoming earnings report, scheduled for release on November 7, 2023. The report is expected to reveal an EPS of $0.76 and revenue of $393.77 million, representing year-on-year increases of 26.67% and 26.31%, respectively.

For the full year, earnings are projected at $3.55 per share with a revenue of $1.52 billion. These estimates indicate robust growth, with increases of 62.1% and 28.02% from the previous year, respectively.

InvestingPro Insights

In light of recent market movements, InvestingPro data and tips offer some insightful metrics and observations.

According to InvestingPro, Axon Enterprise has a robust market capitalization of $15.49 billion, demonstrating its significant presence in the market. Its P/E ratio stands at a high 151.18, reflecting the premium investors are willing to pay for its earnings, and it has shown impressive revenue growth of 37.71% over the last twelve months as of Q2 2023.

InvestingPro Tips also highlight that Axon holds more cash than debt on its balance sheet, a strong indicator of financial health. Moreover, analysts anticipate sales growth in the current year, which aligns with the positive expectations outlined in the article. Another noteworthy point is the company’s impressive gross profit margins, which stood at 61.16% in the last twelve months as of Q2 2023.

In addition, Axon’s stock has shown a strong return over the last three months, which aligns with the article’s observation of the stock’s recent impressive surge.

For more in-depth analysis and additional tips, consider exploring InvestingPro’s comprehensive suite of tools and resources. As of now, there are 17 additional tips listed on InvestingPro that could provide further insights into Axon’s performance and potential investment opportunities.

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