Axon price target raised to $315 from $240 at Needham

Needham analyst Joshua Reilly raised the firm’s price target on Axon to $315 from $240 and keeps a Buy rating on the shares. The company reported solid Q4 results and its AB4 shipments were strong, implying future DEMS – or digital evidence management systems – growth, the analyst tells investors in a research note. Axon’s initial FY24 revenue guidance was also above investor expectations, the firm added.