It's been a pretty great week for Axon Enterprise, Inc. (NASDAQ:AXON) shareholders, with its shares surging 13% to US$307 in the week since its latest full-year results. Revenues were US$1.6b, approximately in line with expectations, although statutory earnings per share (EPS) performed substantially better. EPS of US$2.31 were also better than expected, beating analyst predictions by 13%. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. With this in mind, we've gathered the latest statutory forecasts to see what the analysts are expecting for next year.

Check out our latest analysis for Axon Enterprise

Following the latest results, Axon Enterprise's eleven analysts are now forecasting revenues of US$1.93b in 2024. This would be a major 24% improvement in revenue compared to the last 12 months. Per-share earnings are expected to climb 10% to US$2.57. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$1.88b and earnings per share (EPS) of US$2.61 in 2024. So it looks like there's been no major change in sentiment following the latest results, although the analysts have made a small lift in to revenue forecasts.

The analysts increased their price target 17% to US$309, perhaps signalling that higher revenues are a strong leading indicator for Axon Enterprise's valuation. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. The most optimistic Axon Enterprise analyst has a price target of US$339 per share, while the most pessimistic values it at US$254. Still, with such a tight range of estimates, it suggeststhe analysts have a pretty good idea of what they think the company is worth.

Of course, another way to look at these forecasts is to place them into context against the industry itself. We can infer from the latest estimates that forecasts expect a continuation of Axon Enterprise'shistorical trends, as the 24% annualised revenue growth to the end of 2024 is roughly in line with the 26% annual growth over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to see their revenues grow 6.5% per year. So although Axon Enterprise is expected to maintain its revenue growth rate, it's definitely expected to grow faster than the wider industry.