Axon Enterprise, Inc. (AXON) Stock Price & Analysis
Axon Enterprise, Inc. (AXON) closed at USD 414.6 on Thursday, October 22, 2026, up 2.98% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 402.6; the Oct 22, 2026 session ranged USD 395.55–414.99 on volume of 1,126,940 shares. Market capitalization is $33.68B, with a 52-week range of USD 339.01–764.02 (NMS). Source: Nexqual, retrieved October 23, 2026 at 09:59 UTC.
Also available as compact Markdown for AI agents: nexqual.com/AXON.md
Key facts (AXON)
- Last four reported quarters (through Jun 30, 2026): revenue $3.22B, net income $199M (6.2% margin), free cash flow $133M (SEC filings).
- Valuation: P/E 169.0x (avg 203.3x at the last 3 fiscal year-ends), EV/EBITDA 260.8x, net debt $1.04B.
- Analysts: Buy (mean 1.76 on a 1–5 scale) (21 analysts), mean target USD 681.68 (range 440–830).
- Total return with dividends: 1Y -42.1% vs S&P 500 +14.9%; 5Y +127.0% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 1.9, revenue estimate $938M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (AXON)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $863M | $1.19B | $1.56B | $2.08B | $2.78B | $3.22B |
| Gross profit | $541M | $726M | $955M | $1.24B | $1.66B | — |
| Operating income | -$168M | $93.0M | $157M | $58.5M | -$62.1M | $23.8M |
| Net income | -$60.0M | $147M | $176M | $377M | $125M | $199M |
| EPS (diluted) | -$0.91 | $2.03 | $2.33 | $4.80 | $1.51 | — |
| Free cash flow | $74.6M | $180M | $130M | $330M | $75.1M | $133M |
| Gross margin | 62.7% | 61.2% | 61.2% | 59.6% | 59.7% | — |
| Operating margin | -19.5% | 7.8% | 10.0% | 2.8% | -2.2% | 0.7% |
| Net margin | -7.0% | 12.4% | 11.3% | 18.1% | 4.5% | 6.2% |
| Revenue growth | +26.8% | +37.5% | +31.5% | +33.4% | +33.5% | — |
| Cash + short-term investments | $371M | $935M | $1.24B | $788M | $1.71B | — |
| Total debt | — | $674M | $677M | $680M | $1.81B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (AXON)
P/E 169.0x · P/S 10.5x · EV/EBITDA 260.8x · EV/Sales 10.8x · P/FCF 252.9x · P/B 9.2x · FCF yield 0.40% · Earnings yield 0.59% · Net debt $1.04B · EV $34.7B
P/E at fiscal year-ends: Dec 2025 375.3x, Dec 2024 123.8x, Dec 2023 110.9x.
Analysts (AXON)
Consensus Buy (mean 1.76 on a 1–5 scale), 21 analysts; mean target USD 681.68 (low 440, high 830).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-20 | Piper Sandler | Target lowered | Overweight | $732 → $561 |
| 2026-09-03 | Argus Research | Target raised | Buy | $460 → $600 |
| 2026-08-06 | UBS | Target raised | Neutral | $440 → $600 |
| 2026-08-06 | Morgan Stanley | Target raised | Overweight | $600 → $640 |
| 2026-08-06 | Piper Sandler | Target raised | Overweight | $724 → $732 |
| 2026-08-06 | Barclays | Target raised | Overweight | $523 → $688 |
| 2026-07-13 | Piper Sandler | Target raised | Overweight | $674 → $724 |
| 2026-07-06 | Needham | Target raised | Buy | $600 → $750 |
| 2026-06-25 | Citizens | Reiterated | Market Outperform | $700 |
Total return (dividends reinvested) (AXON)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -42.1% | +127.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -42.2% | +17.8% |
| Volatility (annualized) | 62.2% | 52.1% |
| Max drawdown | -54.5% (Oct 2025→Apr 2026) | -58.9% (Aug 2025→Apr 2026) |
AXON revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Connected Devices | $506.6M | 56.0% | +34.6% |
| Software and Services | $397.8M | 44.0% | +36.2% |
| Total revenue | $904.4M | 100% | — |
AXON revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Product | $506.6M | 56.0% | +34.6% |
| — TASER (part of Product) | $261.3M | 28.9% | +20.9% |
| — Platform Solutions (part of Product) | $149.8M | 16.6% | +122.6% |
| — Personal Sensors (part of Product) | $95.4M | 10.5% | +2.8% |
| Service | $397.8M | 44.0% | +36.2% |
| Total revenue | $904.4M | 100% | — |
AXON revenue by region (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States | $742.3M | 82.1% | +38.1% |
| Other countries | $162.1M | 17.9% | +23.6% |
| Total revenue | $904.4M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
AXON suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Competitor | Oracle (ORCL) | “Our competition includes 10-8 Video Systems, 365Labs, Applied Concepts, Axis Communications, Coreforce, Digital Ally, Duress, Genetec, Getac, HALOS Body Cameras, Hikvision, Hytera, Insight LPR, IONODES, i-PRO, Kustom Signals, LensLock, Motorola Solutions, Tait Communications, Oracle, PatrolEyes, Pinnacle Response, Pro-Vision, Recoda, Reveal Media, Safe Fleet, Versaterm, Wireless CCTV, Wolfcom Enterprises, Wrap Tec…” |
Quoted from the company's 10-K filed Feb 25, 2026.
AXON company outlook (results filed Aug 5, 2026)
- “The following forward-looking statements reflect Axon's expectations as of August 5, 2026 and are subject to risks and uncertainties.”
- “Please refer to " Forward-Looking Statements " below for additional information. • 2026 Revenue: Axon expects full-year 2026 revenue growth in a range of 32% to 34%, an increase from 30% to 32% previously.”
- “These performance-based incentive programs are tied to stock price, operational, and time-based requirements. • 2026 CapEx: Axon expects 2026 CapEx to be in the range of $160 million to $190 million.”
- “Our 2026 capital expenditure plans include long-term R&D investment projects, continued capacity expansion, global facility build-outs and new product development costs.”
Quoted word-for-word from the SEC 8-K results press release.
AXON analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $1.90 | $2.03 | -6.5% | $937.8M | 18 |
| Next quarter (ends Dec 2026) | $2.28 | $2.28 | +0.3% | $1.06B | 18 |
| Current fiscal year (ends Dec 2026) | $7.64 | $7.72 | -1.1% | $3.71B | 20 |
| Next fiscal year (ends Dec 2027) | $10.51 | $10.52 | -0.1% | $4.79B | 20 |
AXON options: expected move
Options price a move of about ±14.5% (±$59.95) by Nov 6, 2026, which includes earnings on Nov 5, 2026; the earnings reaction alone is priced at about ±10.0%. Over the last 8 reports the stock moved ±17.2% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Oct 30, 2026 | 7 | 65.8% | ±7.8% |
| Nov 6, 2026 | 14 | 89.3% | ±14.5% |
| Nov 13, 2026 | 21 | 88.3% | ±17.3% |
| Nov 20, 2026 | 28 | 83.0% | ±18.7% |
| Nov 27, 2026 | 35 | 76.7% | ±19.2% |
| Dec 4, 2026 | 42 | 74.3% | ±20.3% |
| Dec 18, 2026 | 56 | 69.9% | ±21.9% |
| Jan 15, 2027 | 84 | 63.2% | ±24.2% |
30-day implied volatility 81.3% vs 49.3% realized over the last 30 trading days. Put/call ratio (volume) 0.18. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:59 UTC)
| Price | USD 414.6 |
|---|---|
| Change | ▲ 2.98% (up) |
| Previous Close | USD 402.6 |
| Open | USD 402 |
| Day Range | USD 395.55 – 414.99 |
| 52-Week Range | USD 339.01 – 764.02 |
| Volume | 1,126,940 shares |
| Market Cap | $33.68B |
| Exchange | NMS |
Technical Analysis (AXON)
Nexqual's technical model rates AXON "SELL" based on 1 bullish and 4 bearish signals across 127 daily candles, as of October 23, 2026 at 09:59 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 42.82 (neutral) |
| vs SMA50 | Below (USD 486.49) |
| MACD | -20.64 (negative) |
Analyst Ratings (AXON)
Wall Street analysts rate AXON "Buy" based on 21 analysts, with a mean price target of USD 681.68 (range USD 440–830), per Nexqual as of October 23, 2026 at 09:59 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 21 |
| Mean Target | USD 681.68 |
| High Target | USD 830 |
| Low Target | USD 440 |
| Buy / Hold / Sell | 18 / 3 / 0 |
Earnings (AXON)
| Next Earnings Date | 2026-11-05 |
|---|---|
| EPS Estimate | USD 1.9 |
| Revenue Estimate | $937.78M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 1.88 vs est 1.84 ▲ beat |
| 2026-03-31 | USD 1.61 vs est 1.6 ▲ beat |
| 2025-12-31 | USD 2.15 vs est 1.6 ▲ beat |
| 2025-09-30 | USD 1.17 vs est 1.54 ▼ miss |
Source: Nexqual, October 23, 2026 at 09:59 UTC.
Financials & Fundamentals (AXON)
| Total Revenue | $3.22B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +35.30% |
| Gross Margin | +59.52% |
| Operating Margin | +5.17% |
| Profit Margin | +6.19% |
| ROE | +6.22% |
| Debt / Equity | 0.5 |
| Current Ratio | 2.15 |
| Total Cash | $692.53M |
| Total Debt | $1.85B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $133.19M (4.1% of revenue) |
Source: Nexqual, October 23, 2026 at 09:59 UTC.
Financial Health Score (AXON)
Nexqual rates Axon Enterprise, Inc.'s overall financial health "Solid" across five dimensions, as of October 23, 2026 at 09:59 UTC.
| Growth | Strong — Revenue +33% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 60%, operating 5% (last 12 months) |
| Balance Sheet | Strong — $693M cash and investments vs $1.73B debt (Jun 2026, SEC) |
| Cash Flow | Mixed — FCF $133M (last 4 quarters to Jun 2026, SEC), slim 4.1% margin |
| Efficiency | Mixed — ROE 6%, ROA 0.5% |
Ownership (AXON)
| Insider Ownership | +4.51% |
|---|---|
| Institutional Ownership | +90.92% |
| Shares Outstanding | 81.24M |
| Float | 77.31M |
| Short % of Float | +5.68% |
Source: Nexqual, October 23, 2026 at 09:59 UTC.
Leadership (AXON)
Axon Enterprise, Inc. is led by Patrick W. Smith, Founder, CEO & Director, per Nexqual as of October 23, 2026 at 09:59 UTC.
| Founder, CEO & Director | Patrick W. Smith |
|---|---|
| President | Joshua M. Isner |
| COO & CFO | Brittany Bagley |
| Chief Product Officer & CTO | Jeffrey C. Kunins |
| Chief Revenue Officer | Cameron Brooks |
Major Backers & Investors (AXON)
Notable institutional backers of Axon Enterprise, Inc. include Invesco, Baillie Gifford, FMR, LLC, according to Nexqual as of October 23, 2026 at 09:59 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Invesco | 3.97% |
| Baillie Gifford | 3.77% |
| FMR, LLC | 3.72% |
| Wellington Management | 2.59% |
| Price (T.Rowe) Associates Inc | 2.3% |
| Fidelity | 1.29% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 10.86% |
| BlackRock | 10.26% |
| State Street | 4.78% |
| Geode Capital | 2.85% |
Source: Nexqual, October 23, 2026 at 09:59 UTC.
From Axon Enterprise, Inc.'s Latest SEC 10-K Filing (filed 2026-02-25)
Key Strengths & Strategy (as disclosed to the SEC)
- We have identified more than 50 software providers, including 365Labs, Beacon Software Solutions, Caliber Public Safety (parent, Harris Computer Systems), Central Square Technologies, CivicEye, Coreforce, Core Technology Corporation, CSI Technology Group, EForce Software, Executive Information Services, Hexagon, LawSoft, Mark43, Motorola Solutions, Niche Technology, Oracle, Saab, SmartCop, Sopra Steria, Southern Software, Sun Ridge Systems, Tyler Technologies and Versaterm.
- We have the exclusive rights to many Internet domain names, primarily including "Axon.com," "Evidence.com," "TASER.com," and "911.com." We also execute non-disclosure agreements with employees, consultants and key suppliers.
- Axon Air: Our end-to-end drone management software platform competes with several companies in the space who offer drone programs and flight management software solutions.
- Our integrated technology platform of hardware and software solutions advances our mission to (i) make the bullet obsolete, (ii) reduce social conflict, and (iii) enable a fair and effective justice system.
Legal & Regulatory Risks (Item 1A, quoted)
- We may face personal injury, wrongful death, product liability and other liability claims that could harm our reputation and adversely affect our business prospects, operating results and financial condition.
- We have in the past and may in the future be subject to intellectual property infringement and other claims, which could incur substantial litigation costs, result in significant damages awards, inhibit our use of certain technologies and divert management attention from our business.
- We may be unable to enforce patent rights internationally, which may limit our ability to prevent our product features from being used by competitors in some foreign jurisdictions.
- The use of open-source software in our products, services and technologies may expose us to additional risks and harm our intellectual property rights.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
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Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:59 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt