Axon Enterprise (AXON) closed the most recent trading day at $444.77, moving +0.06% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.27% for the day. At the same time, the Dow added 0.65%, and the tech-heavy Nasdaq gained 0.26%.

Coming into today, shares of the maker of stun guns and body cameras had gained 12.44% in the past month. In that same time, the Industrial Products sector lost 2.43%, while the S&P 500 gained 2%.

Market participants will be closely following the financial results of Axon Enterprise in its upcoming release. The company plans to announce its earnings on November 7, 2024. On that day, Axon Enterprise is projected to report earnings of $1.21 per share, which would represent year-over-year growth of 18.63%. Meanwhile, the latest consensus estimate predicts the revenue to be $526.43 million, indicating a 27.28% increase compared to the same quarter of the previous year.

AXON's full-year Zacks Consensus Estimates are calling for earnings of $4.91 per share and revenue of $2.04 billion. These results would represent year-over-year changes of +18.6% and +30.55%, respectively.

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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Axon Enterprise possesses a Zacks Rank of #3 (Hold).

From a valuation perspective, Axon Enterprise is currently exchanging hands at a Forward P/E ratio of 90.59. This represents a premium compared to its industry's average Forward P/E of 21.43.

One should further note that AXON currently holds a PEG ratio of 4.35. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Security and Safety Services industry had an average PEG ratio of 2.23 as trading concluded yesterday.