#6 - Axon Enterprise (NASDAQ:AXON)
Axon Enterprise (NASDAQ:AXON) is the manufacturer of the TASER-branded weapons. The company is also making advances in body camera and taser technology which is likely to see growing demand. Plus, if the Biden administration is sincere in its calls to fund the police, Axon would be a likely beneficiary.
Furthermore the company is pledging to prioritize free cash flow (FCF) as part of the company’s “nimble and flexible” strategy that will have the company moving to subscription-based business model that will make its cash flow recurrent and consistent. If the company is successful in this transition, it would be a good step in making the company’s valuation look more attractive.
AXON stock is receiving bullish analyst sentiment with a price target of $193.38 and a 56% upside. Institutional ownership has leveled off since spiking in the second quarter of 2021. However, even as that growth has slowed, buyers outnumber sellers which suggests the big money is bullish.
About Axon Enterprise
Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.
Read More - Current Price
- $636.95
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 12 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $427.83 (32.8% Downside)
