Axon Enterprise Inc. (NASDAQ:AXON) is one of the best QQQ stocks to buy according to Wall Street analysts. On November 17, RBC Capital initiated coverage of Axon with an Outperform rating and $860 price target. This sentiment came out as RBC Capital believes that Axon is expected to sustain its 25% revenue growth due to a strong position in a large and growing addressable market.
Earlier the same month, the company released its Q3 2025 earnings report, where Axon Enterprise disclosed that it generated a total revenue of $711 million, which was a 31% increase year-over-year. This performance was led by the SaaS segment, which grew 41% year-over-year to $305 million. Connected Devices revenue also saw an increase of 24% year-over-year to $405 million.
Key product growth drivers included TASER 10, which led to a 17% TASER Revenue Growth, and Axon Body 4, driving a 20% Personal Sensors Revenue Growth. The Platform Solutions Revenue saw the most rapid expansion, surging 71%, driven by counter-drone technology, virtual reality, and fleet products. Additionally, the company’s ARR grew 41% to $1.3 billion, with net revenue retention remaining strong at 124%. For Q4, Axon provided revenue guidance of $750 to $755 million with a full-year revenue guidance of ~$2.74 billion (representing 31% growth at the midpoint).
Axon Enterprise Inc. develops, manufactures, and sells conducted energy devices/CEDs under the TASER brand in the US and internationally. It operates through two segments: Software & Sensors and TASER.
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This article is originally published at Insider Monkey.
