10 AI News Updates Investors Should Not Miss

7. Axon Enterprise, Inc. (NASDAQ:AXON)

Number of Hedge Fund Holders: 46

Axon Enterprise, Inc. (NASDAQ:AXON) develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand and boasts a strong suite of AI-powered products such as Axon Auto-Transcribe and Draft One. On January 24, Andrew Sherman from TD Cowen maintained a “Buy” rating on the stock with a price target of $700.00. The company boasts potential for continued growth and has a strong market positioning, leading to the buy. Investors, particularly generalists and defense analysts, are bullish on the stock. The analyst has also pointed out Axon’s promising AI product offerings, particularly the Draft One and AI Era Bundle, as significant growth drivers for the company. There are strong performance expectations for TASER and Body Cam products as well. The potential for free cash flow margin expansion and opportunities in drone technology also contribute to the optimistic outlook.