Based on the current market data and recent analyst reports, here's a concise analysis of AXON's stock:
Technical Analysis
The stock is currently trading at $677, showing a slight decline of -0.33% in regular market trading. The RSI of 72.58 indicates overbought conditions, suggesting caution for new entries. The stock is trading well above its 20-day moving average of $623.05, indicating strong short-term momentum.
Recent Analyst Actions
Multiple analysts maintain a bullish outlook, with JMP Securities recently raising their price target from $610 to $725 on February 4, 2025, suggesting a 9.67% upside potential from current levels. TD Cowen initiated coverage with a Strong Buy rating and $700 target, citing strong Taser 10 and Body 4 product cycles along with AI tailwinds.
Growth Prospects
The company is expected to show significant earnings growth, with EPS projected to increase from $4.14 in 2023 to $5.24 in 2024, and further to $6.29 in 2025. Revenue growth remains robust at approximately 33% year-over-year.
Given the current technical indicators showing overbought conditions and the stock trading near all-time highs, it would be prudent to wait for a pullback before initiating new positions. Consider potential entry points near the Fibonacci support levels at $604.64 or $580.48.