Axon Enterprise (NASDAQ: AXON) has seen its stock soar 2,000% over the last decade, yet analysts unanimously agree that it remains undervalued at its current price of $405 per share. UBS’s Andrew Spinola maintains the lowest target at $570, suggesting a 40% upside, while TD Cowen’s Andrew Sherman is the most optimistic, projecting a target of $825, which implies a 103% upside.

This discrepancy in analyst targets highlights Axon’s potential, especially as it integrates artificial intelligence into its public safety technology offerings. The company reported a robust 39% revenue increase to $797 million in Q4, driven by strong hardware and software sales. With a total addressable market estimated at $159 billion and expected annual revenue growth of 29% through 2028, Axon is well-positioned for future expansion.

For market professionals, the key takeaway is that Axon’s current valuation—59 times adjusted earnings—may present a compelling entry point, particularly given the median analyst target of $700, indicating a potential 72% upside.

Source: fool.com