Axon Enterprise raised revenue guidance late Tuesday after crushing earnings estimates for the fourth quarter. AXON stock seized a buy point Wednesday while making a new high.
Axon Earnings
The Taser and bodycam maker guided to 2024 revenue of $1.88 billion-$1.94 billion. Analysts expected $1.88 billion before the earnings report and now expect $1.92 billion, FactSet shows.
At least nine analysts hiked price targets on Axon stock after the earnings report, according to FactSet.
For Q4, Axon earned $1.12 per share, smashing views for 85 cents.
Year over year, Axon earnings jumped 60% and revenue grew 29%. While robust, growth slowed on both the top and bottom lines vs. the prior quarter.
Axon Stock
Shares of Axon Enterprise rocketed 13.8% to 309.43 in huge volume on the stock market today. That left Axon stock extended, beyond the 5% buy range, above a 274.78 buy point from a three-weeks-tight pattern.
The weapons and technology stock hit a 10-year high intraday. Investors could have bought its shares earlier in February as they rebounded from support at the 10-week moving average.
IBD featured Axon stock in a Feb. 2 Stock of the Day column. The manufacturer of Taser crowd-control stun guns and body cameras is targeting a new customer segment: retail workers.
The company says it designed a new generation of body cameras for front-line workers in retail stores, after a spate of headline-grabbing retail thefts.
