Andrew Sherman, an analyst from TD Cowen, reiterated the Buy rating on Axon Enterprise. The associated price target remains the same with $925.00.
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Andrew Sherman has given his Buy rating due to a combination of factors that highlight Axon Enterprise’s potential for sustained growth. The company is positioned as a high-growth powerhouse, benefiting from strong momentum in both new markets and product innovations. Despite a recent decline in stock price, Sherman views this as an attractive entry point for investors, especially given Axon’s robust ecosystem and loyal customer base.
Furthermore, Sherman’s confidence is bolstered by management’s optimistic outlook and the company’s track record of exceeding expectations. The recent acquisitions are seen not as a cover for slowing growth but as strategic moves to enhance Axon’s offerings, particularly in modernizing emergency services. Additionally, the AI Era plan and international opportunities present significant growth prospects, further supporting Sherman’s positive outlook on Axon’s future performance.
Sherman covers the Technology sector, focusing on stocks such as Elastic, Dynatrace, and JFrog. According to TipRanks, Sherman has an average return of 13.2% and a 56.96% success rate on recommended stocks.
In another report released on November 17, RBC Capital also initiated coverage with a Buy rating on the stock with a $860.00 price target.