AXON - Axon Enterprise Eyes Massive Opportunity in Consumer Market
Analysts might need to rethink their outlook for Axon Enterprise (NASDAQ: AXON) after the maker of stun guns and body cameras blew away third-quarter earnings estimates.
But the real story is that Axon sees its total addressable market opportunity nearly doubling to $52 billion this year on the strength of its new focus on the consumer-products market. Management believes this opportunity can surpass the existing law enforcement segment .
Wall Street forecasts approximately 20% upside for the stock over the next year, but that could rapidly change as Axon begins pouring more resources into devices designed for personal protection and other markets where it currently has little to no presence.
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Axon Enterprise Eyes Massive Opportunity in Consumer Market