RBC Capital Starts Axon Enterprise (AXON) at Outperform

RBC Capital analyst David Paige initiates coverage on Axon Enterprise (NASDAQ: AXON) with a Outperform rating and a price target of $860.00.

The analyst comments: "We are initiating coverage on AXON with an Outperform rating and a price target of $860. Revenue growth of 25%+ is expected to be sustained, driven by cross-sell/up-sell opportunities within the US state and local public safety market, continued penetration into emerging customer verticals (Federal, Enterprise, and International), and expansion into new product categories with broad applicability beyond the public safety market. Over the mid-term, margins should benefit from Axon's higher-growth, higher-margin software offerings, which also provide more predictable and profitable revenue streams, all while allowing for strategic investments in growth opportunities."

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 $554.37 yesterday.

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