“We’re up against little companies like Motorola and Panasonic and L3, so there’s still a lot of competition, but the fact is we’ve been winning the vast majority of the deals because our system performs really well.” – Rick Smith, Co-founder and CEO of Axon Enterprise, Inc.

Axon Enterprise, Inc., (NASDAQ: AAXN) formerly TASER International Inc., is engaged in development, manufacture and sale of conducted electrical weapons (CEWs) as well as development of connected wearable on-officer cameras for use by law enforcement, military, corrections, and private security personnel, and by private individuals for personal defense. On May 9th there was a jump of 22.3% from $44.65 to $54.62.

On April 30, I Know First algorithm issued a bullish 30-day forecast for AAXN. The forecast illustrated a signal of 19.41 and predictability of 0.14. In accordance with the bullish forecast, AAXN stock returned 53.18% over this time period, highlighting the accuracy of I Know First’s prediction. The stock has hit its record high of $63.97 on May 29.

Axon Enterprise’s bullish trend continues from starting in early March 2018. The jump in share price on May 9th may have occurred due to the news of their acquisition of the company VieVu for $4.6 million in cash and $2.5 million in common stock on May 3rd. This purchase gave Axon contracts with police departments to major cities such as New York, Miami, and Oakland. The cities in which they acquired contracts are major U.S. police agencies. Before the acquisition, they held 38 of 69 major U.S. police agencies. With the recent surge in the public and media demand for officers to be wearing body cameras, this is good news for company shareholders.

Also, Axon did really well in its last quarterly earnings on March 31st reporting an increase of 75% for software and sensors segment revenue to $37.7 million, 120.93% for net profit margin, 182.23% for net income, and 166.67% for diluted EPS year over year beating the market expectation.  The successful year is due to a program they began 2017 giving police agencies free body-cam trials which brought back most to purchase their products. The company will hopefully continue to gain more contracts with police departments both across the United States and internationally.

 
Current I Know First subscribers received this bullish AAXN  forecast on April 30, 2018 before the market opening.

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