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  "docSlug": "8ac2fd285d6b",
  "documentTitle": "Axon Enterprise (formerly TASER) (AAXN)",
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  "presentationDate": "2019-06-19 00:00:00",
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  "notes": "The slide argues that Axon's current valuation is inflated compared to its actual peer group.",
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      "text": "We believe Axon should be valued relative to traditional weapons and firearms manufacturers and connected device and location electronics companies, not high growth SaaS peers with bigger TAMs, lower business risks, and proven recurring revenue models.",
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      "text": "P/E: 64.7x",
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      "text": "Source: Company financials, Bloomberg consensus and Spruce Point estimates",
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