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Northcoast Upgrades Axon (AXON) to Buy With $742 Price Target

Axon Enterprise Inc. (NASDAQ:AXON) is one of the best future stocks to buy for the long term. On January 6, Northcoast analyst Keith Housum upgraded Axon to Buy from Neutral, while setting a $742 price target on the shares.

Earlier on December 17, Morgan Stanley analyst Meta Marshall lowered the firm’s price target on Axon to $713 from $760 and kept an Overweight rating on the shares. In a year-ahead outlook, Marshall noted that the AI trade expanded beyond semiconductor stocks in 2025 to include infrastructure companies, specifically benefiting the optical sector. While the analyst believes that this momentum can continue through H1 2026, she cautioned that investors will need to be more selective for full-year returns.

In Q3 2025, the company reported that it achieved total revenue of $711 million, which was a 31% increase year-over-year. This growth was spearheaded by the Software and Services segment, which rose 41% to $305 million, while Connected Devices grew 24% to $405 million. Axon Enterprise Inc. (NASDAQ:AXON) highlighted the expansion of the Axon ecosystem through the introduction of Axon 911 and the integration of newly acquired companies, Prepared and Carbyne. These additions use AI and cloud infrastructure to enhance emergency response and voice communications.

Axon Enterprise Inc. (NASDAQ:AXON) provides public safety technology solutions in the US and internationally. The company operates in two segments: Software & Sensors and TASER.

While we acknowledge the potential of AXON to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AXON and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.

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When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

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  • 140 Metas
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  • 65 Microsofts
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  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
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