Why Axon Enterprise Charged Higher This Week

Axon Enterprise (NASDAQ: AXON) posted another year of impressive growth and indicated it sees no sign of a slowdown ahead. Investors are buying in, sending Axon shares up 12.5% for the week as of Thursday afternoon, according to data provided by S&P Global Market Intelligence.

Axon began as a maker of non-lethal Taser stun guns for law enforcement and has spent the last few years widening its portfolio to include body cameras and software systems to manage evidence and other recordkeeping. The company has been a big winner for investors, up 1,380% over the past decade, and continues to churn out impressive results.

The company earned $1.12 per share in the fourth quarter on sales of $432 million, easily surpassing both its internal targets and Wall Street expectations for $0.85 per share in earnings on sales of $422 million. Full-year revenue was up 31%, Axon's fifth consecutive year of 25%-plus revenue growth.

Continue reading

Source Fool.com