In its upcoming report, Axon Enterprise (AXON) is predicted by Wall Street analysts to post quarterly earnings of $1.67 per share, reflecting a decline of 19.7% compared to the same period last year. Revenues are forecasted to be $753.65 million, representing a year-over-year increase of 31%.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
With that in mind, let's delve into the average projections of some Axon metrics that are commonly tracked and projected by analysts on Wall Street.
The collective assessment of analysts points to an estimated 'Net Sales- Products' of $417.23 million. The estimate indicates a year-over-year change of +26.4%.
According to the collective judgment of analysts, 'Net Sales- Services' should come in at $336.32 million. The estimate indicates a year-over-year change of +37.3%.
Analysts' assessment points toward 'Annual recurring revenue' reaching $1368.50 . The estimate is in contrast to the year-ago figure of $1001.00 .
View all Key Company Metrics for Axon here>>>
Over the past month, Axon shares have recorded returns of -29.5% versus the Zacks S&P 500 composite's -0.8% change. Based on its Zacks Rank #3 (Hold), AXON will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Axon Enterprise, Inc (AXON): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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