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Is AXON ENTERPRISE INC (NASDAQ:AXON) suited for growth investing?

By Mill Chart

Last update: Apr 15, 2024

In this article we will dive into AXON ENTERPRISE INC (NASDAQ:AXON) as a possible candidate for growth investing. Investors should always do their own research, but we noticed AXON ENTERPRISE INC showing up in our CANSLIM growth screen, which makes it worth to investigate a bit more.

Some of the canslim metrics of NASDAQ:AXON highlighted

  • In the most recent financial report, AXON ENTERPRISE INC reported a 60.0% increase in quarterly earnings compared to the previous quarter. This notable growth indicates positive momentum in the company's financials, suggesting an upward trend
  • With consistent quarter-to-quarter (Q2Q) revenue growth of 28.58%, AXON ENTERPRISE INC exemplifies its ability to generate increased sales and revenue streams. This growth signifies the company's strong business performance and its potential for continued growth.
  • The EPS of AXON ENTERPRISE INC has shown consistent growth over a 3-year period, indicating the company's ability to generate increasing earnings over time.
  • The Return on Equity (ROE) of AXON ENTERPRISE INC stands at 10.8%, reflecting the company's strong profitability and effective utilization of shareholder equity. This metric signifies the company's ability to generate returns for its investors.
  • The Relative Strength (RS) of AXON ENTERPRISE INC has consistently been strong, with a current 89.53 rating. This indicates the stock's ability to exhibit relative price outperformance and reflects its competitive strength. AXON ENTERPRISE INC demonstrates promising potential for sustained price momentum.
  • Maintaining a Debt-to-Equity ratio of 0.42, AXON ENTERPRISE INC demonstrates a conservative financial approach. This signifies the company's focus on minimizing debt burdens while preserving a solid equity position.
  • AXON ENTERPRISE INC exhibits a favorable ownership structure, with an institutional shareholder ownership of 75.45%. This signifies a diverse investor base, which can contribute to a more stable and efficient market for the stock.

Technical analysis of NASDAQ:AXON

Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.

Overall AXON gets a technical rating of 10 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, AXON is showing a nice and steady performance.

  • The long and short term trends are both positive. This is looking good!
  • When comparing the yearly performance of all stocks, we notice that AXON is one of the better performing stocks in the market, outperforming 89% of all stocks. On top of that, AXON also shows a nice and consistent pattern of rising prices.
  • AXON is one of the better performing stocks in the Aerospace & Defense industry, it outperforms 74% of 64 stocks in the same industry.
  • AXON is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so AXON is leading the market.
  • In the last month AXON has a been trading in the 304.18 - 329.87 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.

Check the latest full technical report of AXON for a complete technical analysis.

What else is there to say on the fundamentals of NASDAQ:AXON?

ChartMill utilizes a proprietary algorithm to assign a Fundamental Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of fundamental indicators and properties.

Overall AXON gets a fundamental rating of 6 out of 10. We evaluated AXON against 64 industry peers in the Aerospace & Defense industry. AXON is in great health and has no worries on liquidiy or solvency at all, but the profibility rating is only average. AXON is valued quite expensively, but it does show have an excellent growth rating. These ratings would make AXON suitable for growth investing!

Check the latest full fundamental report of AXON for a complete fundamental analysis.

More growth stocks can be found in our CANSLIM screen.

Disclaimer

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.

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AXON ENTERPRISE INC

NASDAQ:AXON (5/24/2024, 7:15:30 PM)

After market: 286.5 +0.87 (+0.3%)

285.63

+5.64 (+2.01%)

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