5 Best Gun Stocks to Invest In

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

Number of Hedge Fund Holders: 31

Axon Enterprise, Inc. (NASDAQ: AXON) is a manufacturer of technology and weapons products for the military, law enforcement, and civilians making up its consumer base. The company ranks 2nd on our list of the best gun stocks to invest in.

This June, Axon Enterprise, Inc. (NASDAQ: AXON) and DroneSense entered into a strategic partnership for the provision of an end-to-end drone software solution for public safety agencies. UBS has also named Axon Enterprise, Inc. (NASDAQ: AXON) as a recommended stock pick based on pricing power, margin momentum, and input cost exposure. This May, Raymond James double-upgraded Axon Enterprise, Inc. (NASDAQ: AXON) to a Strong Buy as well, with a $150 price target. Analyst Brian Gesuale has commented that the company has also exceeded expectations, to justify the upgrade. In the first quarter of 2021, Axon Enterprise, Inc. (NASDAQ: AXON) had an EPS of $0.31, beating estimates by $0.10. The company’s revenue was $195.02 million, up 32.52% year over year and beating estimates by $29.06 million. Axon Enterprise, Inc. (NASDAQ: AXON) also has a gross profit margin of 61.89%.

By the end of the first quarter of 2021, 31 hedge funds out of the 866 tracked by Insider Monkey held stakes in Axon Enterprise, Inc. (NASDAQ: AXON), worth roughly $410 million. This is compared to 32 hedge fund holders in the previous quarter with stakes worth about $495 million.

Conestoga Capital Advisors, a boutique, independent investment management firm, mentioned Axon Enterprise, Inc. (NASDAQ: AXON) in its fourth-quarter 2020 investor letter. Here’s what they said:

“AAXN reported third quarter results that were materially ahead of expectations as the company benefitted from continued adoption of body cameras and software tools within police agencies, a surge in Federal bookings, which is a new focus for the company, and continued momentum within the international market. AAXN also introduced 2021 guidance that was ahead of sell-side estimates.”