Axon Enterprise (AXON) closed the latest trading day at $504.03, indicating a +0.29% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 1.57%. Meanwhile, the Dow lost 0.84%, and the Nasdaq, a tech-heavy index, lost 2.15%.

Shares of the maker of stun guns and body cameras have depreciated by 2.5% over the course of the past month, outperforming the Aerospace sector's loss of 10.45% and the S&P 500's loss of 12.16%.

Market participants will be closely following the financial results of Axon Enterprise in its upcoming release. The company is expected to report EPS of $1.34, up 16.52% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $587.76 million, up 27.57% from the year-ago period.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.38 per share and a revenue of $2.61 billion, indicating changes of +7.41% and +25.15%, respectively, from the former year.

Investors should also pay attention to any latest changes in analyst estimates for Axon Enterprise. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Axon Enterprise presently features a Zacks Rank of #3 (Hold).

Investors should also note Axon Enterprise's current valuation metrics, including its Forward P/E ratio of 78.81. Its industry sports an average Forward P/E of 25.09, so one might conclude that Axon Enterprise is trading at a premium comparatively.

Meanwhile, AXON's PEG ratio is currently 2.83. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. AXON's industry had an average PEG ratio of 2.05 as of yesterday's close.

The Aerospace - Defense Equipment industry is part of the Aerospace sector. This industry, currently bearing a Zacks Industry Rank of 23, finds itself in the top 10% echelons of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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 Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research