From Barchart: 2025-01-07 12:21:00

Raymond James analysts raised Axon Enterprise’s price target to $645 from $515, maintaining an Outperform rating. The company’s shift towards software and AI is driving strong growth, despite a recent stock pullback.

Axon shares have surged over 240% in two years and 130% in 2024, but recently dipped about 20%. Analysts see this as a good entry point for investors, attributing the decline to profit-taking and high expectations.

With a focus on software and AI, Axon is poised for growth. Analysts expect positive estimate revisions with accelerating cloud revenue. The revised model forecasts cloud-related revenue to hit $1.5 billion by 2026, exceeding consensus by $200 million, with total sales reaching $3.16 billion.



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