10 AI Stocks on Analysts’ Radar As AI Spending Grows

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

Number of Hedge Fund Holders: 64

Axon Enterprise, Inc. (NASDAQ:AXON) develops and manufactures technology solutions and weapons for law enforcement, the military, and civilians. Its products include body cameras, dashcams, and Tasers. It has already started integrating AI technology into its existing camera networks, making searching for video evidence and conducting in-depth analysis possible. On February 21, Tim Long of Barclays reiterated an Overweight rating on the stock with a $585 price target.

According to Long, the Trump administration’s policies won’t significantly impact Axon Enterprise, Inc.’s (NASDAQ:AXON) federal business, which is currently valued at less than 10% of total revenue. It is anticipated that the company’s emphasis on next-generation products powered by AI will bolster its federal revenue share in 2025. TASER devices and various AI solutions are expected to draw investor attention to the stock. Long expressed confidence in the development of DraftOne and the AI ERA Plan, assessing their compatibility with internal standards and their potential to play a major role in the future expansion of Axon’s software business.