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SCOTTSDALE, AZ—Caitlin Elizabeth Kalinowski, a director at Axon Enterprise, Inc. (NASDAQ:AXON), recently sold 450 shares of the company's common stock. The transaction, which took place on January 2, 2025, was executed at a price of $604.07 per share, amounting to a total of $271,831. The sale comes as Axon's stock has shown remarkable strength, delivering a 137% return over the past year. According to InvestingPro analysis, the company currently trades above its Fair Value, with a market capitalization of $45.45 billion.
Following this sale, Kalinowski retains ownership of 6,929 shares in the company. The transaction was conducted under a pre-established Rule 10b5-1 trading plan, which was adopted on August 20, 2024. InvestingPro data reveals that Axon maintains strong financial health, with 20+ additional insights available to subscribers, including detailed valuation metrics and growth forecasts in the comprehensive Pro Research Report.
In other recent news, Axon Enterprise showcased a strong financial performance with a reported revenue growth of 32.32% over the past year and a promising third-quarter performance. The company's earnings have been revised upward by 13 analysts, reflecting confidence in its growth sustainability. Investment firms Baird and Morgan Stanley (NYSE:MS) have expressed confidence in Axon's growth trajectory, particularly highlighting the potential of artificial intelligence (AI) within the company's operations. Baird increased its stock price target for Axon to $800 from the previous target of $600, while Morgan Stanley upgraded Axon's stock from Equalweight to Overweight and increased the price target to $700.
These recent developments follow Axon's focus on AI, which has already reported early successes with its AI Era Plan. The company's Q3 results were bolstered by its focus on artificial intelligence and TASER products, leading to record bookings and a 32% year-over-year growth in revenue. Axon raised its Q4 revenue guidance to between $560-570 million and expects full-year revenue to exceed $2.07 billion.
Despite these positive developments, Axon, along with other defense shares, experienced a decline following potential ceasefire reports between Israel and Hezbollah. As always, these recent developments underline the importance of independent research and consultation with a financial advisor for investors.
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