AXON - Down 25% Is Now the Time to Buy Axon Enterprise Stock?
Axon Enterprise (NASDAQ: AXON) is trying to become the world's best hardware and software provider for law enforcement agencies. From its flagship TASER product to workflow software backed up on Evidence.com, the company offers numerous products to police departments around the globe. Even though Axon has grown its business substantially over the last few years, and while putting up another solid earnings result in the first quarter, the stock price is down over 25% in the last three months.
Is now the time to buy some shares in Axon, with the stock trading at a discount? Let's take a look.
In the first quarter of 2021, Axon's revenue was up 33% from 2020 to $195 million. All three of Axon's operating segments (TASER, Sensors, and Cloud) grew at a rapid pace. TASER sales were up 30% year over year to $100 million, while Sensor sales grew 36% to $44 million and Cloud revenue grew 34% to $52 million.
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Down 25%, Is Now the Time to Buy Axon Enterprise Stock?