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

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.

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.

Taking everything into account, AXON scores 10 out of 10 in our technical rating. Both in the recent history as in the last year, AXON has proven to be a steady performer, scoring decent points in every aspect analyzed.

• 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 96% 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 89% of 65 stocks in the same industry.
• AXON is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
• AXON is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.

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

How does the Setup look for NASDAQ:AXON

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NASDAQ:AXON this score is currently 7:

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. There is a resistance zone just above the current price starting at 687.70. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 633.48, a Stop Loss order could be placed below this zone.

Some of the high growth metrics of NASDAQ:AXON highlighted

• The recent financial report of AXON ENTERPRISE INC demonstrates a 42.16% increase in quarterly earnings compared to the previous quarter. This growth indicates positive momentum in the company's financials and suggests a promising upward trend
• AXON ENTERPRISE INC has experienced 31.59% q2q revenue growth, indicating a significant sales increase.
• The 3-year EPS growth of AXON ENTERPRISE INC (32.14%) highlights the company's ability to consistently improve its earnings performance and suggests a positive outlook for future profitability.
• AXON ENTERPRISE INC has demonstrated strong 1-year revenue growth of 63.57%, reflecting revenue momentum and its ability to generate consistent top-line expansion. This growth underscores the company's strong market position and its potential for future success.
• The average next Quarter EPS Estimate for AXON ENTERPRISE INC has experienced a 9.71% change in the last 3 months, reflecting evolving expectations by analysts regarding the company's EPS performance.
• The recent financial report of AXON ENTERPRISE INC demonstrates a 42.16% increase in quarterly earnings compared to the previous quarter. This growth indicates positive momentum in the company's financials and suggests 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.
• AXON ENTERPRISE INC exhibits a strong Return on Equity (ROE) of 20.59%, indicating the company's ability to generate solid returns on shareholder investments. This metric reflects the company's efficient utilization of equity capital and its profitability.
• 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.
• With 81.14% of the total shares held by institutional investors, AXON ENTERPRISE INC showcases a healthy distribution of ownership. This suggests a mix of institutional and retail investors, fostering a dynamic market for the stock.
• 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.
• AXON ENTERPRISE INC has achieved an impressive Relative Strength (RS) rating of 96.16, showcasing its ability to outperform the broader market. This strong performance positions AXON ENTERPRISE INC as an attractive stock for potential price appreciation.

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

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.