Here's Why Axon Enterprise (AXON) Fell More Than Broader Market

Axon Enterprise (AXON) declined 1.34% to $407.80, underperforming the S&P 500's 1.11% loss. The stock has dropped 6.5% over the past month. Despite the recent weakness, the company maintains a Zacks Rank #1 (Strong Buy) rating with projected Q earnings of $1.94 per share (65.81% YoY growth) and full-year earnings of $7.88 per share (15.04% YoY growth). The stock trades at a Forward P/E of 52.44, above its industry average of 31.66.