Needham Lifts Axon Enterprise, Inc. (AXON)'s Price Target To $870, Maintains Buy Rating

Axon Enterprise, Inc. (NASDAQ:AXON) is among the 11 Best Large Cap Defense Stocks to Buy According to Analysts. On August 5, Needham analyst Joshua Reilly raised the stock’s price target to $870 from $820, while maintaining a Buy rating for its shares.

The adjustment follows the company’s second-quarter earnings call on August 4, with reported revenue beating consensus estimates by 420 basis points. Axon Enterprise, Inc. (NASDAQ:AXON) posted earnings per share of $2.12, comfortably surpassing expectations of $1.45 per share.

Reilly noted the robust performance delivered by Axon Enterprise, Inc. (NASDAQ:AXON)’s new and existing products during the quarter. The Needham analyst also highlighted potential growth catalysts during the second half of the fiscal year, as Bodycam, TASER, and software products gain greater interest from countries in Europe.

Axon Enterprise, Inc. (NASDAQ:AXON) is a technology company in global public safety. The stock has surged in 2025, with year-to-date gains of over 45%. Wall Street analysts expect the momentum to continue with an average share price upside potential of nearly 12%.

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Disclosure: None.