617283

Why Is Axon (AXON) Stock Soaring Today


Max Juang /
2024/08/07 1:32 pm EDT

What Happened:

Shares of aerospace and defense company AXON (NASDAQGS:AXON) jumped 24.6% in the morning session after the company reported a "beat and raise" quarter. Axon blew past analysts' revenue and EPS expectations this quarter. Moving on, it raised its full-year revenue and EBITDA guidance, which exceeded Wall Street's estimates. Zooming out, we think this was a great quarter that shareholders will appreciate.

Is now the time to buy Axon? Access our full analysis report here, it's free.

What is the market telling us:

Axon's shares are quite volatile and over the last year have had 5 moves greater than 5%. But moves this big are very rare even for Axon and that is indicating to us that this news had a significant impact on the market's perception of the business.

Axon is up 39.4% since the beginning of the year, and at $350.43 per share, has set a new 52-week high. Investors who bought $1,000 worth of Axon's shares 5 years ago would now be looking at an investment worth $5,350.

Today’s young investors won’t have read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.