The growth stock I will buy next!

The growth stock I want to buy next is AxonEnterprise (WKN: A2DPZU). This has partly technical reasons. The stock has recently become less important in my portfolio, I have tended to buy more elsewhere and have broadened my horizons. I would like to bring that out a bit again.

I consider a relative share of between 3 to 4% in my growth portfolio to be quite appropriate. It could also mean that I double my position again.

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Why is Axon Enterprise the next growth stock I want to buy? There is of course not only the portfolio specialty, but also a business-oriented perspective on this exciting opportunity.

Axon Enterprise: Therefore, the growth stock I will buy next!

There are really many reasons that speak in my favor for Axon Enterprise as a growth stock. On the one hand, that management grows very, very carefully and deliberately. This quality should now be able to play better again. Growth at the pump and credit? Not possible, the US company’s balance sheet is debt-free, you have zero debt, as is said almost iconic in every quarterly work.

To this end, the management of Axon Enterprise has recently consistently expanded the field of security solutions. Tasers and bodycams as basic solutions as well as the platform Evidence.com with the cloud solution are also active within networks. Control center technology and cross-agency working may be new growth markets. Drones, equipped vehicles and other gadgets are part of it anyway. Overall, management is targeting a total market of US$52 billion per annum, of which it has penetrated around 2.3% to date.

The growth stock Axon Enterprise therefore has so much potential that a multiplication of the operational starting position appears possible and realistic. Another reason I buy is related to the rating. With a market cap of $9.4 billion, the US company only needs to achieve about a fifth of that figure in the total addressable market potential of $52 billion to have a price-to-sales multiple of 1. Additionally, price-to -earnings ratio currently 47.2 after the second quarter with net profit of $0.71. Not cheap, but profitable growth that has just started could trigger the revaluation. With a solid sales growth of 31%, the management is increasingly securing the long-term market opportunity.

I want more of it!

I just want more of the growth stock Axon Enterprise, so I’m buying again now. I like the debt free management, growth, market potential and valuation. Looking at the long term, I see a good and quite plausible opportunity for the overall package to become even more valuable.

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Vincent owns shares in Axon Enterprise. The Motley Fool owns shares of and recommends Axon Enterprise.

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