On July 28, Axon Enterprise, Inc. rose 5.21% in regular trading, trading at $528.59/share, with turnover of $135 million. The rally was driven by multiple investment banks expressing optimism on Q2 bookings growth prospects ahead of the company's August 5 earnings release.

RBC Capital Markets projects Q2 bookings to grow 2.5% year-over-year, supported by accelerating AI adoption, an open ecosystem strategy, and emerging businesses including drones. The firm maintained its outperform rating and $735 price target, noting Axon is well-positioned to sustain revenue growth above 30% as police departments face staffing challenges and budget pressures. Meanwhile, Piper Sandler raised its price target from $674 to $724 with an overweight rating, and Needham significantly lifted its target from $600 to $750. The consensus mean price target stands at approximately $685.71.

Axon reported Q1 revenue of $807.35 million, beating the $778.9 million estimate, and raised full-year guidance to 30%-32% revenue growth. The market appears to be pricing in continued momentum ahead of Q2 results.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)