12 Best Defense Stocks to Buy Right Now

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7. Axon Enterprise, Inc. (NASDAQ:AXON)

Number of Hedge Fund Holders: 62

Axon Enterprise, Inc. (NASDAQ:AXON) is among the 12 Best Defense Stocks to Buy Right Now. The company is in advanced talks to acquire emergency response startup, Prepared, for between $800 million to $900 million, The Information reported on September 17.

The New York-based startup, founded in 2019, was valued at $550 million in a financing round in May this year, according to PitchBook. Investors include First Round Capital, General Catalyst, and Andreessen Horowitz.

The firm generates little revenue. According to the report, it has told some shareholders that it anticipates driving around $2.5 million in monthly revenue by the end of this year. Spokespersons for Axon Enterprise, Inc. (NASDAQ:AXON) and Prepared did not return requests for a comment by The Information.

However, the potential sale shows how software firms are adding artificial intelligence to bolster their applications. Prepared’s product offerings include an AI tool that provides 911 real-time transcripts of calls, including translation of non-English speakers.

Axon Enterprise, Inc. (NASDAQ:AXON) manufactures weapons and technology for law enforcement agencies, the military, and civilian use. The company integrates cloud software solutions and hardware devices to help enable modern policing, defense, and security.

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