In a report released today, Meta Marshall from Morgan Stanley maintained a Buy rating on Axon Enterprise (AXON – Research Report), with a price target of $700.00.
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Meta Marshall has given her Buy rating due to a combination of factors including Axon Enterprise’s strong and durable growth prospects. The company is expected to maintain a robust topline growth rate of 25-30%, driven by the adoption of artificial intelligence within its core customer base and expansion into adjacent markets. This growth is further supported by increased hardware sales, particularly with the rollout of new products like TASER 10 and AB4.
Marshall also highlights Axon’s strategic partnerships and acquisitions, which enhance its position in the market and provide resilience against potential challenges, such as the recent concerns about the Flock Safety partnership. Despite the speculation surrounding the Flock relationship, Marshall believes it will not significantly impact Axon’s medium-term results. Axon’s ongoing innovation and expansion into new end markets bolster the company’s growth trajectory, reinforcing the Buy rating.
Marshall covers the Technology sector, focusing on stocks such as Arista Networks, Zebra Tech, and Cisco Systems. According to TipRanks, Marshall has an average return of 6.9% and a 56.25% success rate on recommended stocks.
In another report released on February 4, JMP Securities also maintained a Buy rating on the stock with a $725.00 price target.