Axon price target raised to $320 from $285 at JMP Securities

JMP Securities raised the firm’s price target on Axon to $320 from $285 and keeps an Outperform rating on the shares. The company reported strong results and provided revenue guidance in line with estimates, the analyst tells investors in a research note. JMP likes Axon as a solid opportunity for long-term capital appreciation for several reasons, including a compelling financial profile with management expecting a revenue compound annual growth rate of 20%+ combined with an 25% adjusted EBITDA margin beyond FY24.