Craig-Hallum Reiterates Buy Rating on Axon Enterprise (AXON) Ahead of IACP Conference

Craig-Hallum analyst Jeremy Hamblin reiterated a Buy rating and $160.00 price target on Axon Enterprise (NASDAQ: AXON) ahead of International Association of Chiefs of Police (IACP) Conference on October 17th.

The analyst commented, "In a stock market that continues to be volatile with an increasing number of companies reporting weaker business updates, we view Axon as a high-reward investment idea with limited downside from current levels. We believe Axon as the company in our coverage universe most likely to deliver beat and raise results in 2H22. Moreover, we note that since Q2 2021, Axon has seen its earnings prospects for 2023 increase at 12x the rate of the S&P 500 while seeing its stock multiple contract at 3x the market, resulting in a stock that has underperformed despite results far superior to the market. The company will attend the IACP 2022 conference in less than two weeks and while we do not anticipate any updates to guidance nor any ground-shaking new products, we expect an overwhelmingly positive tone from management on the state of the business. Our work suggests Axon is on track to report outstanding Q3 results with dominant positions in the TASER and body camera markets while Axon Fleet continues to gain share. Axon is an elite Rule of 40 stock - with higher visibility on growth along with lower risk than most SaaS peers."

For an analyst ratings summary and ratings history on Axon Enterprise click here. For more ratings news on Axon Enterprise click here.

Shares of Axon Enterprise closed at $120.95 yesterday.

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