Axon Enterprise, the Industrials sector company, was revisited by a Wall Street analyst yesterday. Analyst Meta Marshall from Morgan Stanley maintained a Buy rating on the stock and has a $675.00 price target.
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Meta Marshall has given his Buy rating due to a combination of factors that highlight a disconnect between Axon’s fundamentals and its recent share performance. Despite the stock falling over 30% year to date and underperforming broader software peers, the company has raised its multi‑year growth outlook to nearly 29% CAGR, supported by strong Q4 bookings growth and expanding product demand.
Marshall also points out that Axon is successfully capitalizing on artificial intelligence, with new offerings such as Axon Vision, expanded Axon Assistant capabilities, and cloud‑based 911 infrastructure broadening its platform. With an estimated $159 billion total addressable market and the shares now trading at a discount to large‑cap software on growth‑adjusted valuation metrics, she views the recent weakness as a compelling entry point and maintains a positive stance on the stock.
Marshall covers the Technology sector, focusing on stocks such as Palo Alto Networks, Lumentum Holdings, and CrowdStrike Holdings. According to TipRanks, Marshall has an average return of 2.6% and a 51.24% success rate on recommended stocks.