Axon Enterprises Inc (AXON)

[User-700991]

$89 target JMP Securities - Axon Enterprise, Outperform rating

Lets see how things go


JMP Securities initiated coverage of Axon Enterprise this week with an outperform rating. The company develops technology and weapons products for law enforcement and civilians. JMP said the company’s “strong” brand and “solid” reputation in the law enforcement community give Axon a “dominant platform” for growth. The firm added it was impressed as the company continues its transition from a business based on electroshock weapons to a business that provides a broader array of technology options to law enforcement agencies.

“We initiate research coverage of Axon Enterprise with a Market Outperform rating and a price target of $89. Our research suggests that AAXN is still in the early stages of its transformation from a business based on electroshock weapons to a business that provides a broad suite of technology solutions to law enforcement agencies. The company’s strong brand and solid reputation with law enforcement provide AAXN with a dominant platform from which to grow.”