Exploring high growth characteristics of AXON ENTERPRISE INC (NASDAQ:AXON).

Our stockscreener has identified a possible breakout setup on AXON ENTERPRISE INC (NASDAQ:AXON). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NASDAQ:AXON for potential opportunities.

Zooming in on the technicals.

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous 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 97% of all stocks. On top of that, AXON also shows a nice and consistent pattern of rising prices.
• AXON is part of the Aerospace & Defense industry. There are 65 other stocks in this industry. AXON outperforms 89% of them.
• 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 592.00 - 698.67 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Our latest full technical report of AXON contains the most current technical analsysis.

Why is NASDAQ:AXON a setup?

Besides the Technical Rating, ChartMill assigns a Setup Rating to every stock to determine the degree of consolidation. This rating, ranging from 0 to 10, is updated daily and evaluates various short-term technical indicators. NASDAQ:AXON currently holds a 8 as its setup rating, suggesting a particular level of consolidation in the stock.

AXON has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price. There is a support zone below the current price at 644.90, a Stop Loss order could be placed below this zone.

Why NASDAQ:AXON may be interesting for high growth investors.

• AXON ENTERPRISE INC has shown positive momentum in its earnings per share (EPS) on a quarter-to-quarter (Q2Q) basis, with a 42.16% increase. This reflects the company's successful execution of its business strategies and its commitment to delivering improved financial results.
• With impressive quarter-to-quarter (Q2Q) revenue growth of 31.59%, AXON ENTERPRISE INC showcases its ability to generate increased sales and revenue. This growth indicates the company's strong customer demand and its effective business strategies.
• 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 1-year revenue growth of AXON ENTERPRISE INC (63.57%) has been strong, reflecting the company's ability to generate consistent sales growth. This growth suggests the company's ability to meet customer needs and expand its market share.
• Over the past 3 months, analysts have adjusted their EPS Estimate for AXON ENTERPRISE INC with a 17.57% change. This highlights the evolving outlook on the company's EPS potential.
• The quarterly earnings of AXON ENTERPRISE INC have shown a 42.16% increase compared to the previous quarter, as revealed in the recent financial report. This growth signifies positive momentum in the company's financials, pointing towards a promising upward trend
• AXON ENTERPRISE INC has experienced notable growth in its free cash flow (FCF) over the past year, signaling improved cash generation and strong financial performance. This growth suggests the company's ability to generate excess cash for reinvestment or shareholder returns.
• The Return on Equity(ROE) of AXON ENTERPRISE INC is 20.59%, 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 exhibits a favorable Debt-to-Equity ratio at 0.32. This highlights the company's ability to limit excessive debt levels and maintain a strong equity base, demonstrating its financial stability and risk management practices.
• The ownership composition of AXON ENTERPRISE INC reflects a balanced investor ecosystem, with institutional shareholders owning 75.45%. This indicates a broader market participation and potential for increased trading liquidity.
• AXON ENTERPRISE INC has a strong history of beating EPS estimates in the last 4 quarters, signaling its ability to consistently exceed market expectations. This indicates the company's strong financial performance and its potential for creating shareholder value.
• The Relative Strength (RS) of AXON ENTERPRISE INC has been consistently solid, with a current 97.14 rating. This highlights the stock's ability to exhibit sustained price strength and signifies its competitive advantage. AXON ENTERPRISE INC exhibits strong prospects for further price appreciation.

More high growth momentum breakout stocks can be found in our High Growth Momentum Breakout 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.