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Down 25%, Is Now the Time to Buy Axon Enterprise Stock?

This law enforcement technology company continues to grow its top line at a double-digit rate. Does it belong in your portfolio? ....

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Down 25%, Is Now the Time to Buy Axon Enterprise Stock?

Down 25%, Is Now the Time to Buy Axon Enterprise Stock?
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Axon Q1 2021 Revenue Up 33% on Strong Product Demand, International Expansion, Raising Full-Year Outlook


Dear Shareholders,
We are pleased with our robust start to 2021. Revenue growth of 33% in the quarter exceeded our expectations and drove increased profitability, as we executed upon growing demand for TASER devices and software-heavy body camera bundles. Solid Q1 gross margin reflects a combination of strong TASER demand and fixed-cost leverage on higher-than-expected revenue, which also flowed through to the bottom line.
We are seeing healthy demand for new products, with new products bookings up 130% year over year, driven by productivity and real-time operations software solutions, VR training and transcription services. We are also successfully expanding into new markets, with new market bookings up 35% year over year. ....

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Where Will Axon Enterprise Be in 10 Years?


Author Bio
Travis Hoium has been writing for fool.com since July 2010 and covers the solar industry, renewable energy, and gaming stocks among other things. Follow @TravisHoium
Axon Enterprise (NASDAQ:AXON) has spent the last decade expanding from a small Taser-producing company into arguably one of the most influential companies in law enforcement. But the groundwork is being laid for an even bigger expansion. 
Body cameras produced by Axon give law enforcement the ability to capture video evidence for later analysis. They are part of a broader long-term goal of being a data gathering, data storage, and analytics software provider for first responders and law enforcement. The various initiatives underway will make the company more of a technology platform for its customers and they will drive the company s growth and development over the next decade.  ....

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