Axon Stock: Supports Law Enforcement

London policeman uniform and equipment — tirc83

The Chart of the Day belongs to the TASER manufacturer Axon Enterprises (AXON). I found the stock by sorting the Russell 3000 Index stocks first by the most frequent number of new highs in the last month and having a Trend Spotter buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker first signaled a buy on 10/6 the stock gained 46.49%.

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, TASER, and Software and Sensors. 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. Its products include TASER 7, TASER X26P, TASER X2, TASER Consumer devices, and related cartridges; on-officer body cameras, Axon Fleet in-car systems, and other devices; Axon Evidence digital evidence management software; Axon Signal enabled devices, as well as hardware extended warranties; and Axon docks, cartridges, and batteries. It sells its products through its direct sales force, distribution partners, online store, and third-party resellers. Axon Enterprise, Inc. has a strategic partnership with Fusus, Inc. to expand the capabilities of Axon Respond and the Fusus Real Time Crime Center in the Cloud solution to provide agencies real-time operations situational awareness, including streamlined investigative workflows. The company was formerly known as TASER International, Inc. and changed its name to Axon Enterprise, Inc. in April 2017. Axon Enterprise, Inc. was incorporated in 1993 and is headquartered in Scottsdale, Arizona. (Yahoo Finance)

Barchart’s Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.

Barchart Technical Indicators:

100% technical buy signals
29.40+ Weighted Alpha
6.19% gain in the last year
Trend Seeker buy signal
Above its 20, 50 and 100 day moving averages
18 new highs and up 44.52% in the last month
Relative Strength Index 76.73%
Recently traded at $185.22 with 50 day moving average of $136.06

Fundamental factors:

Market Cap $13.18 billion
P/E 121.61
Revenue expected to grow 34.30% this year and another 18.80% next year
Earnings estimated to increase 31.50% next year and continue to compound at an annual rate of 17.50% for the next 5 years

Analysts and Investor Sentiment — I don’t buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it’s hard to make money swimming against the tide:

Wall Street Analysts have 6 strong buy, 5 buy and 1 hold recommendation in place on this stock
Analysts’ price targets are from $127 to $223 with an average of $179
The individual investors following the stock on Motley Fool voted 1,725 to 95 for the stock to beat the market with more experienced investors voting 297 to aa for the same result
32,140 investors are monitoring this stock on Seeking Alpha