Axon Enterprise (NASDAQ:AXON) is one of the high-growth large-cap stocks to invest in now. On June 15, Piper Sandler reiterated an Overweight rating on Axon Enterprise (NASDAQ:AXON) and maintained a $674 price target.
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According to the research firm, Axon Enterprise is slowly becoming an operating system for its customers amid platformization. It has also achieved significant international wins, and trials appear to be increasing. The research firm expects artificial intelligence driving on-premise to cloud migrations to be a positive factor for the company.
Consequently, it expects the company to deliver 30% growth, which would align with the 34% revenue growth over the past 12 months. Nevertheless, Piper Sandler has warned that Axon Enterprise shares lack a near-term catalyst beyond execution and product releases. However, it views the current levels as an ideal entry point, which is why the stock is a top pick.
Axon Enterprise Inc. (NASDAQ:AXON) is a public safety technology company that develops connected hardware, software, and AI-powered solutions designed to de-escalate conflicts and protect life. Formerly known as TASER International, its ecosystem is used by law enforcement, military agencies, corrections, and commercial enterprises.
While we acknowledge the risk and potential of AXON as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than AXON and that has 10,000% upside potential, check out our report about this cheapest AI stock.
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