Is Axon Enterprise Stock a Buy?

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The threat of new competition is causing Axon Enterprise‘s (NASDAQ: AXON) stock to retreat, even as sales and profits expand.

Fourth-quarter earnings exceeded analyst expectations, and the law enforcement equipment and services provider continues to add more customers. Yet shares are well off their all-time high since Motorola Solutions entered Axon’s key markets with a suite of affordable products bundled into a video-as-a-service (VaaS) package, representing the first viable challenge Axon has faced in years. 

Bigger, better financed, and boasting at least as much credibility with police agencies around the world, Motorola presents investors with an interesting dilemma: Is the 35% haircut to Axon stock enough of a discount, or will Axon lose more ground, both on the stock market and in the marketplace?

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