Needham analyst Joshua Reilly maintained a Buy rating on Axon Enterprise today and set a price target of $870.00.
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Joshua Reilly has given his Buy rating due to a combination of factors that highlight Axon Enterprise’s strong performance and growth potential. The company reported a robust quarter, surpassing revenue expectations by 420 basis points, which was driven by both new and existing products. Notably, the AI Era plan showed impressive bookings exceeding $150 million, with new products accounting for 30% of these bookings.
Looking ahead, Axon is poised for further growth, particularly in the second half of 2025, as European interest in their TASER, Bodycam, and software products increases. This interest is fueled by localized security concerns and a shift towards Cloud product adoption. Additionally, management’s guidance for a high 30% bookings trajectory for fiscal year 2025 underscores the company’s innovative product development and strong market position, prompting an increase in the price target to $870.