5 Best Prison And Law Enforcement Stocks To Buy Now

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

Number of Hedge Fund Holders: 31      

Axon Enterprise, Inc. (NASDAQ:AXON) manufactures, and sells conducted energy devices. On December 13, investment advisory Morgan Stanley maintained an Equal Weight rating on Axon Enterprise, Inc. (NASDAQ:AXON) stock and raised the price target to $250 from $230, noting the demand for the products of the firm would come back in 2024. 

At the end of the third quarter of 2023, 31 hedge funds in the database of Insider Monkey held stakes worth $643 million in Axon Enterprise, Inc. (NASDAQ:AXON), compared to 36 in the previous quarter worth $576 million.

In its Q2 2023 investor letter, Conestoga Capital Advisors, an asset management firm, highlighted a few stocks and Axon Enterprise, Inc. (NASDAQ:AXON) was one of them. Here is what the fund said:

“Axon Enterprise, Inc. (NASDAQ:AXON)’s fundamentals remain robust but suffered from profit taking in the second quarter after strong performance from the stock over the last year. AXON is a public safety technology company and has been a portfolio leader in each of the three prior quarters. AXON’s fundamentals remain robust, with revenue growth of 34% in their most recently reported quarter. AXON is seeing robust growth internationally and in their Fleet product line, and the new Taser 10 is seeing the strongest initial demand in their history.”