Needham keeps a Buy rating and $240 price target on Axon (AXON) but adds the name to the firm’s Conviction List in place of Hubspot (HUBS) following the company’s Q1 earnings beat. The analyst sees greater visibility around demand and manufacturing for T10 and AB4 that will result in ongoing revenue trends above expectations. Needham further notes that Axon also remains simultaneously focused on profitable growth and margin expansion.
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