Axon Enterprise, the Industrials sector company, was revisited by a Wall Street analyst yesterday. Analyst Andrew Sherman from TD Cowen reiterated a Buy rating on the stock and has a $925.00 price target.
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Andrew Sherman has given his Buy rating due to a combination of factors that highlight Axon Enterprise’s strong growth potential and strategic initiatives. The company’s revenue growth of 31% surpassed expectations, and management has raised their full-year guidance, indicating confidence in future performance. Additionally, Axon’s AI Era plan is expected to contribute significantly to bookings, and the acquisition of Axon 911 is seen as a promising development.
Furthermore, the company’s annual recurring revenue accelerated impressively, and international growth has shown significant momentum. Management’s positive outlook for 2026 and beyond, coupled with strategic acquisitions like Carbyne, suggests a robust growth trajectory. Despite a recent drop in share price, the valuation appears attractive, reinforcing the Buy recommendation with a price target of $925.
According to TipRanks, Sherman is a 4-star analyst with an average return of 11.1% and a 66.22% success rate. Sherman covers the Technology sector, focusing on stocks such as JFrog, Elastic, and ServiceTitan, Inc. Class A.