Axon Enterprise, Inc. (NASDAQ:AXON) ranks among the best growth stocks to buy for the next 10 years. Ahead of the company’s August 4 earnings report, TD Cowen maintained its Buy rating on Axon Enterprise, Inc. (NASDAQ:AXON) and increased its price target from $800 to $825 on July 26. The firm expects Axon Enterprise, Inc. (NASDAQ:AXON) to outperform TD Cowen’s projected 28% revenue growth for the upcoming quarter. Additionally, it raised its full-year growth estimate from 27% to roughly 29% at the midpoint mark.
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Following a 15% decline from recent highs, TD Cowen’s sales headcount tracker indicates a favorable rebound for Axon, and the firm considers the current entry point to be appealing. Even now, the stock remains TD Cowen’s top pick in the sector. Notably, TD Cowen has employed Axon’s artificial intelligence product cycle, robust competitive moat, durable end markets, and high growth profile to support the company’s premium valuation.
Axon Enterprise, Inc. (NASDAQ:AXON) is a prominent provider of law enforcement technology solutions, including less-lethal weaponry, body cameras, and cloud-based software. The company’s target market is law enforcement agencies in the United States and beyond.
While we acknowledge the potential of AXON as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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