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Earnings Growth & Price Strength Make Axon Enterprise (AXON) a Stock to Watch

Kickstarting your investment journey can be both exciting and scary at the same time, and if you're new to investing, you may not know where to even begin. However, one thing is for certain -- stocks set to beat the market over the next 12 months serve as the perfect foundation for any kind of investor.

Let's now take a look at one standout stock that could be a perfect fit for your portfolio.

Why You Should Pay Attention to Axon Enterprise (AXON)

Headquartered in Scottsdale, AZ, Axon Enterprise, Inc. develops and manufactures weapons for selling to U.S. state and local governments, the U.S. federal government, international government customers and commercial enterprises. Focused on global public safety, Axon’s suite of products includes conducted energy devices, body-worn cameras, in-car cameras, cloud-hosted digital evidence management solutions, productivity software and real-time operations capabilities.

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AXON was added to the Zacks Focus List on June 3, 2020 at $97.85 per share. Since then, shares have increased 225.25% to $318.26.

Five analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.34 to $4.48. AXON also boasts an average earnings surprise of 58.7%.

Additionally, Axon Enterprise's earnings are expected to grow 8.2% for the current fiscal year.

It can be very profitable to buy stocks with rising earnings estimates, as stock prices respond to revisions. By adding a Focus List stock like AXON, there's a great chance you'll be getting into a company whose future earnings estimates will be raised, which can lead to price momentum.

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Axon Enterprise, Inc (AXON) : Free Stock Analysis Report

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Zacks Investment Research