News Image

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

By Mill Chart

Last update: Jul 9, 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.

Canslim stocks image

What matters for canslim investors.

  • With a favorable trend in its quarter-to-quarter (Q2Q) earnings per share (EPS), AXON ENTERPRISE INC highlights its ability to generate increasing profitability, showcasing a 30.68% growth.
  • The q2q revenue growth of 34.31% of AXON ENTERPRISE INC highlights the company's ability to generate incremental revenue and suggests positive market demand for its products or services.
  • AXON ENTERPRISE INC has experienced 32.14% growth in EPS over a 3-year period, demonstrating its ability to generate sustained and positive earnings momentum.
  • The Return on Equity(ROE) of AXON ENTERPRISE INC is 14.43%, which is a strong number. This indicates the company's ability to generate favorable returns for shareholders and reflects its effective management of resources.
  • AXON ENTERPRISE INC has achieved an impressive Relative Strength (RS) rating of 91.4, showcasing its ability to outperform the broader market. This strong performance positions AXON ENTERPRISE INC as an attractive stock for potential price appreciation.
  • With a Debt-to-Equity ratio at 0.37, AXON ENTERPRISE INC showcases its prudent financial management. The company's balanced approach between debt and equity reflects its commitment to maintaining a stable capital structure.
  • With institutional shareholders at 75.45%, AXON ENTERPRISE INC demonstrates a healthy ownership distribution. This reflects a mix of institutional and individual investors, creating a market environment that may foster increased trading activity and price discovery.

What is the technical picture of NASDAQ:AXON telling us.

ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.

Taking everything into account, AXON scores 10 out of 10 in our technical rating. 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.

  • Both the short term and long term trends are positive. This is a very positive sign.
  • When comparing the yearly performance of all stocks, we notice that AXON is one of the better performing stocks in the market, outperforming 91% of all stocks. We also observe that the gains produced by AXON over the past year are nicely spread over this period.
  • AXON is one of the better performing stocks in the Aerospace & Defense industry, it outperforms 79% of 63 stocks in the same industry.
  • AXON is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so AXON is lagging the market slightly.
  • In the last month AXON has a been trading in the 278.24 - 304.56 range, which is quite wide. It is currently trading near the high of this range.

For an up to date full technical analysis you can check the technical report of AXON

How does the complete fundamental picture look for NASDAQ:AXON?

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

Overall AXON gets a fundamental rating of 6 out of 10. We evaluated AXON against 63 industry peers in the Aerospace & Defense industry. AXON scores excellent points on both the profitability and health parts. This is a solid base for a good stock. AXON is valued quite expensive, but it does show an excellent growth. These ratings could make AXON a good candidate for growth and quality investing.

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

More growth stocks can be found in our CANSLIM screen.

Keep in mind

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.