Was Jim Cramer Right About Axon Enterprise, Inc. (AXON)?

We recently published a list of Did Jim Cramer Nail or Miss These 11 Stock Predictions? In this article, we are going to take a look at where Axon Enterprise, Inc. (NASDAQ:AXON) stands against other stocks that Jim Cramer discusses.

At the time, a caller asked if it was worth adding to a position in Axon Enterprise, Inc. (NASDAQ:AXON) after the stock had pulled back. Cramer expressed some hesitation and suggested only buying the stock if it dropped even further, saing:

“I thought Rick Smith did a great job. I think the quarter was really good. The stock sold off because it’s been just an incredible juggernaut. I would hold off right now. I think you could probably buy that stock at $250 if it gets there. People hate the chart or whatever — but then you’ll be at the right level. The stock does have a high price-to-earnings multiple, so I’m a little more skittish than I would be otherwise.”

Cramer’s caution was misplaced since Axon surged 161.21% after his suggestion to wait. Axon Enterprise, Inc. (NASDAQ:AXON) is revolutionizing public safety with body cameras, TASER devices, and AI-powered evidence management platforms.

Cramer advocated for the stock recently and included it in his list of stocks that are worth buying right now. Here are his comments from April:

“Remember Axon? We had Patrick Smith on. That’s, well I got to tell you, this used to be a taser and people still think it’s taser. It’s a decent business but not a big one. What this company really is now, is the dominant software-as-a-service system for law enforcement in cities all over America. Its body cam system is the gold standard. Its AI work gets rid of the drudgery of filling out and reports gives police officers more time to do their actual jobs. The best? The bad guys plead guilty because it’s all on tape.”

A technician in a white coat testing an in-car system on a modern military vehicle.

Overall, AXON ranks 7th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of AXON as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AXON and that has 100x upside potential, check out our report about this cheapest AI stock. cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.