/Axon%20Enterprise%20Inc%20logo%20with%20buy%20and%20sell-by%20NPS_87%20via%20Shutterstock.jpg)
Valued at a market cap of $45.3 billion, Axon Enterprise, Inc. (AXON) is a leading provider of technology solutions for law enforcement and public safety agencies, developing innovative products, including body cameras, digital evidence management systems, and Taser energy weapons. Based in Scottsdale, Arizona, Axon is known for its commitment to enhancing safety and accountability through its cutting-edge technology. Axon is set to release its fiscal 2024 Q4 earnings results on Tuesday, Feb. 25.
Ahead of the event, analysts expect Axon’s profit to be $0.37 per share, down 52% from $0.77 per share in the year-ago quarter. The company has failed to surpass Wall Street’s EPS estimates in three of the last four quarters while beating on another occasion.
Analysts predict Axon to report an EPS of $1.53 in fiscal year 2024, down 46.1% from $2.84 in fiscal year 2023. However, its fiscal 2025 EPS is projected to rebound, rising 119% annually to $3.35.
Over the past 52 weeks, AXON has rallied 137.1%, substantially surpassing the broader S&P 500 Index's ($SPX) 26.5% gains and the Industrial Select Sector SPDR Fund’s (XLI) 25% returns during the same period.
Over the past year, Axon has outperformed the broader market, driven by groundbreaking innovations such as the TASER 10 and Draft One software, which have expanded its product portfolio. Additionally, strong demand for its software solutions and positive analyst outlooks have further fueled its exceptional performance.
Shares of AXON popped 28.7% following its solid Q3 earnings release on Nov. 7. The company’s revenue rose 31.6% year-over-year to $544.3 million, exceeding Wall Street estimates by 3.6%. Its adjusted EPS of $1.45 also saw an 18.9% increase from the previous year, surpassing forecasts by 21%.
The current consensus opinion on AXON is “Strong Buy” overall. Out of 16 analysts covering the stock, 13 suggest a “Strong Buy,” and three recommend a “Moderate Buy.” Further, the mean price target of $622.47 represents a potential upside of 4.8% from AXON’s current price level.
