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Investors Business Daily
Investors Business Daily
Business
APARNA NARAYANAN

Axon Stock Soars To New High After Taser Maker's Robust Guidance

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.

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