Axon price target raised to $242 from $215 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Axon to $242 from $215 and keeps a Buy rating on the shares. The firm notes Axon delivered another outstanding quarter in Q4 with over 50% revenue growth along with record bookings. Guidance for full year 2023 came in well above street expectations as both the TASER and S&S segments are firing on all cylinders, Craig-Hallum adds. Importantly, the company laid out a three-year financial target model in which it plans to compound growth at 20%+ along with EBITDA margins improving to the mid-20’s.