Top 10 AI News Updates You Should Not Miss

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

Number of Hedge Fund Holders: 46

Axon Enterprise, Inc. (NASDAQ:AXON) is a weapons and surveillance technology firm popular for developing and supplying stun guns, bodycams, and dashcams to police departments, prison agencies, immigration authorities, and private security in the US and worldwide. The company also offers the Axon Evidence software boosted by AI to manage surveillance cam recording data to reduce report writing time, speed up evidence review and license plate scanning, and improve incident response time.

On January 7th, Raymond James hiked Axon Enterprise, Inc.’s (NASDAQ:AXON) target price to $645 from $515 and retained an “Outperform” rating. Although the stock jumped 130% in 2024, the brokerage attributed the recent price retreat to profit-taking, valuation, and concerns that Q4 results and 2025 guidance could be a difficult “encore to the chorus” of strong results in recent times. Analysts view this scenario as an entry point for a story accelerating its mix to software and AI and expect positive estimate revisions in the company’s Q4.

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