Axon Enterprise (AXON) Suffers a Larger Drop Than the General Market: Key Insights

Axon Enterprise (AXON) closed the latest trading day at $665.08, indicating a -0.62% change from the previous session's end. The stock's performance was behind the S&P 500's daily loss of 0.27%. On the other hand, the Dow registered a loss of 0.51%, and the technology-centric Nasdaq increased by 0.03%.Prior to today's trading, shares of the maker of stun guns and body cameras had gained 15.43% over the past month. This has outpaced the Aerospace sector's gain of 4.52% and the S&P 500's gain of 4.27% in that time.Analysts and investors alike will be keeping a close eye on the performance of Axon Enterprise in its upcoming earnings disclosure. The company is expected to report EPS of $1.51, up 34.82% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $567.56 million, indicating a 31.34% upward movement from the same quarter last year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Axon Enterprise. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Axon Enterprise boasts a Zacks Rank of #3 (Hold).Investors should also note Axon Enterprise's current valuation metrics, including its Forward P/E ratio of 103.03. This expresses a premium compared to the average Forward P/E of 30.7 of its industry.It's also important to note that AXON currently trades at a PEG ratio of 3.46. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. AXON's industry had an average PEG ratio of 2.47 as of yesterday's close.The Aerospace - Defense Equipment industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 138, putting it in the bottom 46% 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.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want 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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks