Why Axon Stock Surged Higher This Week

Shares of leading public-safety technology provider Axon Enterprise (NASDAQ: AXON) have risen by 28% this week as of 11:45 a.m. ET on Friday, according to data provided by S&P Global Market Intelligence.

Axon delivered blockbuster second-quarter earnings results, with revenue growth of 35%, while guiding for full-year sales growth of 29.5% at the midpoint, up from 26% just a quarter ago.

The company’s Axon Cloud and Services category headlined its impressive results, growing sales by 47% with a net retention rate of 122%. Management has customers in all 50 states across the U.S.A. and 90 countries, and Axon Cloud is home to over 2 billion law-enforcement evidence files. Whether used for evidence collection or for review and analysis, the company’s industry-leading cloud operations are quickly becoming a must-have for local, state, federal, and international public safety agencies.

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