Axon Enterprise, Inc. (NASDAQ: AXON) stock is surging 6.68% in pre-market trading, building on its 5.68% gain from the previous session. The continued upward momentum comes after the company reported impressive first-quarter 2025 financial results, raised its full-year guidance, and received multiple analyst price target increases.

Axon, known for its TASER devices and law enforcement technology products, reported Q1 2025 adjusted earnings of $1.41 per share, significantly beating the analyst consensus estimate of $1.27. Revenue for the quarter reached $603.6 million, up 31% year-over-year and exceeding analyst estimates of $583.8 million. The company's Software & Services segment showed particularly strong growth, with revenue increasing 39% to $263 million.

Following the strong results, Axon raised its full-year 2025 revenue guidance to a range of $2.60 billion to $2.70 billion, up from the previous forecast of $2.55 billion to $2.65 billion. The company also increased its Adjusted EBITDA outlook to between $650 million and $675 million. In response to the positive developments, several analysts have raised their price targets for Axon stock. JP Morgan increased its target to $730 from $665, Morgan Stanley raised its target to $695 from $635, Needham boosted its target to $750 from $600, and TD Cowen lifted its target to $750 from $725. The combination of strong financial performance and positive analyst sentiment appears to be driving investor enthusiasm for Axon shares in the pre-market session.