JMP Securities Sees Sharp Upside In Axon Enterprise

JMP Securities analyst Erik Suppiger resumed coverage of Axon Enterprise Inc AXON with an Outperform rating and a price target of $195, implying an upside of 35.7%.
The analyst noted Axon is well-positioned to expand the adoption of its flagship TASER technology as a replacement for guns and leverage its leadership position and range of products to expand market share in adjacent public safety technology markets, such as body-worn cameras and cloud-based services that improve operational efficiency.
Suppiger adds that at 8-times his expected 2023 revenue, he believes Axon shares are "attractively valued."
Price Action: AXON shares are trading higher by 3.57% at $143.85 on the last check Tuesday.