Taser maker Axon's pipeline growth, forecast raise keep analysts bullish

Axon Enterprise

07/08/2024 19:26

(Updates)
    ** Shares of Axon Enterprise  AXON.O  up 17.5% at $346.7 
    ** Co lifts FY revenue forecast to $2 bln - $2.05 bln from
prior view of $1.94 bln - 1.99 bln 
    ** "We have a fantastic opportunity to deliver a similar
bookings number over the next six months that we achieved in the
entire time 2023 campaign" President Patrick Smith says on
conference call
        ** "Given the lift in guidance and commentary around 2H
orders and growing pipeline, we believe the company can sustain
20%+ y/y growth going forward," analysts at Barclays said
  
    ** Q2 revenue comes in at $504 mln, beating est. of $478.5
mln 
        ** Co's cloud & services segment's revenue jumps 46.8%
YoY  
  
    ** " There is tremendous enthusiasm and demand for the
company’s new Draft One AI report writing software which will
increase productivity at policing agencies," analysts at
Craig-Hallum say
    ** "We are very bullish on 2H24. Axon is firing on all
cylinders right now and has more irons in the fire that will
contribute to future growth," Northcoast Research analyst Keith
Housum said. 
    ** Stock up 38% YTD

 (Reporting by Pratyush Thakur and Abhinav Parmar)
 ((Pratyush.Thakur@thomsonreuters.com))