Axon Stock Flashes Strength Amid Strong Profit Growth

law enforcement and military products manufacturer Exxon Corporation (AXON), originally known for its less-lethal combat weapons, continues to expand its product lines. Axon stock reached an all-time high on August 5, and on Monday it received an upgrade to its Relative Strength (RS) rating from 66 to 71.

The upgraded RS Rating of 71 shows that Axon outperformed 70% of all stocks in terms of price performance over the past 52 weeks. It’s a welcome improvement, but other Axon reviews paint a brighter picture.

History shows that the biggest winners in the market usually have an RS Rating north of 80 in the early stages of their moves. See if Axon Enterprise can continue to show increasing price strength and cross this threshold.

Axon stock reached a record high of 885.91 on August 5. It consolidated from there, falling to a low of 638.50 on October 10. It then rose and was on track for its fourth higher close in as many days on Tuesday afternoon, trading around 700.

Axon’s EPS rating of 99 reflects rapid earnings growth

Axon boasts a best-possible 99 EPS rating and an outstanding 93 Composite rating. A composite of 93 means that Axon stock is in the top 7% of stocks for a set of the most important fundamental and technical metrics. Additionally, it has a strong Accumulation/Distribution Rating of B, which indicates that the funds are enthusiastic buyers.

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Scottsdale, Arizona-based Axon reported a 74% increase in fourth-quarter earnings to $2.12 per share on a 33% increase in revenue to $668.5 million. The previous three segments recorded EPS gains of 41%, 84% and 23% on revenue advances of 32%, 34% and 31%.

Axon continues to develop its Taser brand controllers, and is now working on a 10th generation device. The company says on its website that the goal is to “stop the threat without taking a life.”

Axon’s other product lines include artificial intelligence technology and include aerial surveillance drones and counter-drone technology for law enforcement agencies. In addition to body-mounted and vehicle-mounted cameras, police headquarters video and data management systems and a host of other devices and systems.

Among the top 3 in its industry

Look for the next earnings report on or around November 6.

Axon ranks third among its peers in the Security/Safety industry group. Federal signal (FSS) is the highest-rated stock in the group.

IBD’s unique RS Rating tracks market leadership using a score of 1 (worst) to 99 (best) that quantifies how a stock’s price performance over the past 52 weeks compares to other publicly traded companies.

This article was automatically generated using Stats Performance’s Wordsmith software using data and article templates provided by Investor’s Business Daily. An IBD journalist may have edited the article.

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