Axon Enterprise, Inc. (AXON) shares are experiencing an upward trend today, driven by a recent upgrade from Morgan Stanley. The investment firm elevated its rating on Axon to "Overweight" from "Equal Weight," citing the potential for artificial intelligence to boost sales of Taser devices and body cameras used in law enforcement. Analysts at Morgan Stanley believe that the integration of AI software, which typically carries higher profit margins, could propel Axon's growth rate to between 25% and 30%.
Additionally, Argus has raised its price target for Axon to $800 from $620, reflecting increased confidence in the company's market position and growth prospects. This positive sentiment is further supported by Axon's recent performance, with the stock trading near its 52-week high and showing strong year-to-date gains.
Axon Enterprise's stock is currently priced at $685.69, marking a 2.36% increase from its previous close of $669.87 and a 2.79% rise from its opening price of $667.09.