JPM raises taser maker Axon's PT after upbeat Q3 results

Axon Enterprise

08/11/2024 13:02

** Taser maker Axon Enterprise's  AXON.O  shares up 15% at $540
premarket
    ** J.P.Morgan raises PT on Axon's shares to $530 from $485
    ** Brokerage maintains rating at "overweight" based on
company's "strong position in a large addressable market and
favorable government funding environment"
** Company raises FY revenue forecast after beating estimates
for Q3 revenue and profit
    ** Reports Q3 revenue of $544.3 mln vs est $525.1 mln, Q3
profit of $1.45/shr vs est $1.20/shr - LSEG
    ** Expects annual revenue of $2.07 bln, up from prior
forecast range of $2 bln to $2.05 bln
    ** As of last close, stock up 81% YTD

(Reporting by Anshuman Tripathy in Bengaluru)
((Anshuman.Tripathy@thomsonreuters.com))