On May 29, TD Cowen reiterated its bullish review of Axon Enterprise Inc. (NASDAQ:AXON), raising the price target from $750 to $800 while keeping the stock’s rating at Buy. The shift comes after Josh Isner, president of Axon, spoke at a recent conference on a number of issues that are essential to the company’s operations and future growth.
At the TD Cowen-hosted conference, Isner spoke with attendees over a fireside chat about an array of topics, such as Axon’s Enterprise and International divisions, Draft One and AI technologies, state and local government budgets, TASER products, drones, and the company’s annual Axon Week.
Analysts at TD Cowen highlighted Axon’s impressive first-quarter results and the existence of several growth drivers in their assessment, including the company’s aim for over 30% growth at a run-rate size of over $2.5 billion. The firm believes that Axon’s competitive advantages and appealing end markets warrant a premium price.
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