Needham: fixed ALPR market challenges not key to Axon's 2026 targets

Needham analyst Joshua Reilly reiterated a Buy rating and $750 price target on Axon. He said the fixed ALPR market faces headwinds from public outcry over data sharing, but that segment is not critical to Axon's 2026 guidance or 2028 targets. Flock ALPR contract cancellations have surged, but switching to Axon is limited. The analyst sees no carryover to Axon's RTCC software business. Axon's diversification should help it gain share vs Flock Safety.