Spruce Point Capital Releases A Strong Sell Research Opinion On Axon Enterprise, Inc. (Nasdaq: AAXN)
AXON ENTERPRISES INC (AAXN)
Last axon enterprises inc earnings: 2/27 04:01 pm
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US:NASDAQ Investor Relations:
investor.axon.com/investor-relations
Company Research
Source: PR Newswire
NEW YORK, June 19, 2019 /PRNewswire/ -- Report entitled "A Stunning Short" outlines how Axon, formerly known as Taser International, faces 40-60% downside risk to approximately $27.50 to $40.00 per share due to its inability to gain traction on proposed software offerings, aggressive revenue recognition and future margin erosion, and a valuation predicated on management's unrealistic attempt at transforming the company into a comprehensive SaaS business.Management's SaaS-Driven Growth Story Is Highly Unrealistic And Likely To Disappoint: Axon successfully took significant share of the Taser and body-worn camera (BWC) spaces by entering both markets as a first-mover just as demand in each exploded. Management is now effectively claiming that, by pairing artificial intelligence (AI) with control of BWC video storage for client police departments, it can achieve similarly rapid growth by displacing deeply-entrenched players in the records management system (RMS) and computer-assisted di
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