JMP Securities analyst Joseph Osha initiated coverage of Axon Enterprise with an Outperform rating and $89 price target. The analyst's research suggests that Axon remains in the early stages of its transformation from a business based on electroshock weapons to a business that provides a broad suite of technology solutions to law enforcement agencies. The company's "strong brand and solid reputation" with law enforcement provide it with a dominant platform from which to grow, Osha tells investors in a research note. He believes the market has yet to fully appreciate Axon's potential for growth in new product areas.