Why This 1 Industrial Products Stock Could Be a Great Addition to Your Portfolio
Building an investment portfolio from scratch can be difficult, especially if you're new to investing. It's easy to feel overwhelmed with so many different investment options out there, but focusing on stocks that are set to outperform the market over the next 12 months is an excellent place to start.
Now, let's break down why adding this one exceptional stock, highlighted below, to your portfolio could be a recipe for success.
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. The company generates the majority of its revenues through direct sales, including its online store. Its market for body-worn and in-car cameras is exposed to intense competition from Motorola Solutions, Panasonic Corp., Reveal Media, Safe Fleet and Digital Ally Inc., among others. The market for software solutions is vulnerable to competition from Motorola Solutions, Panasonic Corp., IBM, Oracle, FotoWare and Vidizmo, among others. On a geographical basis, the company has operations in the United States (86% of 2023 net sales) and other international markets (14%). Axon operates under the following two segments
On June 3, 2020, AXON was added to the Zacks Focus List at $97.85 per share. Shares have increased 276.56% to $368.46 since then.
One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.07 to $4.75. AXON boasts an average earnings surprise of 24.1%.
Additionally, Axon Enterprise's earnings are expected to grow 14.7% 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