Long
AXON to become cloud leader for US police - triangle breakout
AXON formerly TASER international. They are the market leader for Tasers (70% of US patrol carry one) and bodys cameras for US law enforcement (47 of 59 large cities)
Its cloud business for storing police records and videos of its own market leading body camera's is the next big growth opportunity. The Axon cloud represented 25% of revenue in the last quarter and grew 40% from a year ago.
The cloud business could be a lot bigger. According to the company the addressable market is 55B vs 1.8B for tasers and 800M for cameras.
this is a high growth volatile stock and is at risk of valuation compression in short run. Use a stop at $68, target triangle extension at $110
Its cloud business for storing police records and videos of its own market leading body camera's is the next big growth opportunity. The Axon cloud represented 25% of revenue in the last quarter and grew 40% from a year ago.
The cloud business could be a lot bigger. According to the company the addressable market is 55B vs 1.8B for tasers and 800M for cameras.
this is a high growth volatile stock and is at risk of valuation compression in short run. Use a stop at $68, target triangle extension at $110
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.