Why Axon Enterprise Stock Jumped 18 Percent Today
Shares of Axon Enterprise (NASDAQ: AXON) leaped 17.7% higher through 10:25 a.m. ET on Wednesday after the company reported a huge earnings beat last night.
Heading into Q2 2023, analysts had forecast the maker of Taser stun guns and Axon police body cameras would earn only $0.62 per share on $350.5 million in sales. But then Axon went and reported a profit of nearly double what was expected -- $1.11 per share -- and a beat on sales as well -- $374.6 million.
Total sales for the quarter grew 31% year over year (YOY), led by Axon Cloud and services revenue, which was up 62% YOY. At $133 million, this high-margin recurring revenue now accounts for 38% of Axon's revenue stream -- and is growing at a 52% annualized rate.
Source Fool.com
Axon Enterprise INC Stock
€508.60
-0.160%
With 0 Sell predictions and 2 Buy predictions the community sentiment towards the Axon Enterprise INC stock is not clear.
With a target price of 700 € there is a positive potential of 37.63% for Axon Enterprise INC compared to the current price of 508.6 €.
