With a market cap of $31.1 billion, Axon Enterprise, Inc. (AXON) is a public safety technology company that provides cloud-based software, digital evidence management solutions, and connected devices such as TASERs, body cameras, and in-car cameras to law enforcement and public safety agencies worldwide. It serves government and commercial customers through innovative technologies designed to enhance safety, transparency, and operational efficiency.
Shares of the Scottsdale, Arizona-based company have lagged behind the broader market over the past 52 weeks. AXON stock has declined 48.1% over this time frame, while the broader S&P 500 Index ($SPX) has returned 27.2%. Moreover, shares of the company are down 31.9% on a YTD basis, compared to SPX’s 10% rise.
More Top Stocks Daily: Go behind Wall Street’s hottest headlines with Barchart’s Active Investor newsletter.
Focusing more closely, the TASER maker stock has underperformed the State Street Industrial Select Sector SPDR ETF’s (XLI) 21.8% increase over the past 52 weeks.
www.barchart.com Shares of Axon Enterprise climbed 10.6% following its Q1 2026 results on May 6 as the company reported record quarterly revenue of $807 million, up 34% year-over-year, marking its ninth consecutive quarter of 30%+ growth, driven by strong demand for TASER 10, Axon Body 4, AI products, and counter-drone solutions. Investors were encouraged by Software & Services revenue rising 35% to $355 million, AI-related product revenue surging more than 700% year over year, counter-drone revenue jumping over 300%, and annual recurring revenue reaching $1.5 billion, up 35%, highlighting accelerating adoption across Axon’s ecosystem.
The rally was further supported by Axon raising its full-year 2026 revenue growth outlook to 30% - 32%, while maintaining a strong 25.5% adjusted EBITDA margin forecast and reporting net income of $169 million with adjusted EBITDA of $202 million.
For the fiscal year ending in December 2026, analysts expect Axon Enterprise’s EPS to surge 45.6% year-over-year to $1.82. The company's earnings surprise history is mixed. It topped the consensus estimates in three of the last four quarters while missing on another occasion.
Among the 20 analysts covering the stock, the consensus rating is a “Strong Buy.” That’s based on 15 “Strong Buy” ratings, four “Moderate Buys,” and one “Hold.”
www.barchart.com On May 7, Citizens cut its price target on Axon Enterprise to $700 while maintaining an “Outperform” rating.
The mean price target of $669 represents a 73% premium to AXON’s current price levels. The Street-high price target of $825 suggests a 113.3% potential upside.
On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
Bank of America Says Nvidia Is Still the Top AI Compute Stock to Buy Despite YTD Underperformance. Here’s Why. Why Amazon’s AI Game Looks Completely Different Than Every Other Tech Giant Tesla Has a SpaceX Stake and $890 Million in Related Revenue. The Upcoming SpaceX IPO Could Be a Major Win for TSLA Stock. As Micron Heeds Trump’s Call for Domestic DRAM Manufacturing, MU Stock Is Still Undervalued