Axon Enterprise, Inc. (AXON) has been a topic of interest on Reddit forums, with users discussing its potential for future growth. One user highlighted the company's strategic moves, such as acquiring drone companies and making significant advancements in AI, which could bolster its market position. The political climate is also seen as favorable for Axon, with both major parties likely to support its growth initiatives. Despite a high P/E ratio of 178, some investors are optimistic about the company's prospects, considering its 165% year-to-date growth in 2024.
Redditors are debating whether Axon's current price is justified, given its recent surge. A user noted, "It was a good buy at $480 pre-election day," but expressed uncertainty about its current valuation, which is nearly $200 higher than a few weeks ago. The discussion also touched on the company's total addressable market, estimated by Morgan Stanley to be $77 billion, and whether another 100% growth is feasible over the next two years. The lack of significant competition at Axon's level and its strategic acquisitions are seen as potential drivers for continued success.
As of December 5, 2024, Axon Enterprise's stock is trading at $686.80, reflecting a slight decrease of 0.09% from the previous close.