Stock Groups

Axon Enterprise Receives Upgrade After Smashing Earnings Expectations -Breaking

by Mike Robinson

[ad_1]

© Reuters

Sam Boughedda

Investing.com — Arizona-based Axon enterprise Inc (NASDAQ:), shares surged 7.9% Tuesday, after blowout earnings by the company resulted in an upgrade. 

Axon beat earnings expectations by achieving $1.17 per share, exceeding 27 cent earnings estimates. The revenue figure was $232 million higher than the consensus estimate of $201.11million. Its revenue figure was 39% lower than that of the previous year.

This company develops weapons technology products and reported record third-quarter bookings at $0.5 billion. That’s up 70% from the previous year. It also raised its 2022 revenue forecast to $1 billion.

Axon shares were open Tuesday at $208.84 after Monday’s closing at $167.41.

Craig-Hallum analyst Jeremy Hamblin raised the stock’s price to $232 due to its earnings release. According to the analyst, he’s impressed at Axon’s ability grow by at least 25%. He expects Axon would achieve 25 percent or more during fiscal 2022. 

Hamblin said that he also sees many opportunities to profit from the momentum building in federal and international markets. 

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses caused by the data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this website’s data including quotes, charts, or buy/sell signal information. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.



[ad_2]