TD Cowen analyst Andrew Sherman has maintained their bullish stance on AXON stock, giving a Buy rating yesterday.
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Andrew Sherman has given his Buy rating due to a combination of factors, including Axon Enterprise’s robust revenue growth and strategic positioning in the AI product cycle. The company is expected to exceed revenue growth estimates, with a forecasted 30% year-over-year increase for the third quarter, surpassing Street expectations. This growth is supported by strong performance in both Software & Services and Connected Devices segments.
Additionally, the recent pullback in Axon’s share price presents an attractive entry point for investors, as there are no fundamental reasons for the decline. The company’s AI Era plan, which has already achieved significant bookings since its launch, is anticipated to drive further adoption and revenue growth. Furthermore, Axon’s acquisition of Prepared enhances its capabilities in modernizing public safety dispatching, which is expected to be well-received by investors.
Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AXON in relation to earlier this year.