William Blair analyst Jonathan Ho has maintained their bullish stance on AXON stock, giving a Buy rating today.
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Jonathan Ho has given his Buy rating due to a combination of factors that suggest Axon Enterprise is well-positioned for future growth despite recent performance setbacks. Although Axon’s recent quarterly revenue and earnings per share did not meet investor expectations, the company maintains a positive outlook for its bookings growth trajectory, expecting high-30s percent growth for the year. This suggests that the current dip in stock price presents a buying opportunity for investors.
Moreover, Axon is strategically expanding into high-growth areas such as artificial intelligence, drones, and virtual reality, which are anticipated to drive sustained growth over the next several years. The company’s strong execution in newer markets and its acquisition of Carbyne to enhance cloud-based emergency response infrastructure further bolster its long-term growth prospects. These factors, coupled with strong annual recurring revenue growth and steady net revenue retention, underpin Ho’s confidence in Axon’s potential, making the stock an attractive investment opportunity.
In another report released today, Bank of America Securities also reiterated a Buy rating on the stock with a $805.00 price target.