J.P. Morgan analyst Joseph Cardoso maintains $Axon Enterprise (AXON.US)$ with a buy rating, and adjusts the target price from $377 to $485.
According to TipRanks data, the analyst has a success rate of 80.0% and a total average return of 18.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Axon Enterprise (AXON.US)$'s main analysts recently are as follows:
Despite the absence of signs pointing to a deceleration in momentum for public safety companies, their high valuation is a source of investor unease in anticipation of upcoming earnings reports, which will likely be met with heightened scrutiny. The belief is that both Axon and Motorola will meet investor forecasts, which could mitigate some of the valuation concerns by delivering another quarter that justifies their premium market positioning.
The firm maintains a strong conviction in ongoing trends and anticipates a robust third-quarter performance that surpasses expectations, bolstered by sustained strength across the board.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
