Analyst William Power of Robert W. Baird reiterated a Buy rating on Axon Enterprise (AXON – Research Report), retaining the price target of $800.00.
William Power has given his Buy rating due to a combination of factors including Axon Enterprise’s strong financial performance and promising future outlook. The company reported impressive Q4 results with revenue and adjusted EBITDA surpassing expectations, showing significant year-over-year growth. Additionally, Axon provided robust guidance for 2025, forecasting a 25% revenue increase, which is above previous estimates and indicates a strong growth trajectory.
Another key factor in Power’s rating is the substantial increase in Axon’s total future contracted bookings, which surged by over 40% year-over-year to $10.1 billion. This growth highlights the company’s expanding market opportunities, particularly in international and enterprise sectors. Furthermore, Axon’s advancements in AI and strategic partnerships, such as the potential renewal with Flock Safety, enhance its competitive edge and contribute to an increased total addressable market, now estimated at $129 billion. These elements collectively support the Buy rating as they reflect Axon’s ability to capitalize on new and existing market opportunities effectively.
According to TipRanks, Power is a 5-star analyst with an average return of 16.1% and a 56.54% success rate. Power covers the Technology sector, focusing on stocks such as Dynatrace, Palantir Technologies, and Akamai.
In another report released on February 27, Barclays also maintained a Buy rating on the stock with a $726.00 price target.