Wall Street Analysts Bullish on Axon Enterprise Stock

Despite stock underperforming the broader market, analysts see strong growth potential for the public safety tech company.

Published on Feb. 23, 2026

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Axon Enterprise, a leading provider of connected hardware, software, and cloud services for law enforcement and security customers, has significantly underperformed the broader market over the past year. However, Wall Street analysts remain strongly bullish on the stock's outlook, with a consensus 'Strong Buy' rating and a mean price target implying an 87% premium to the current share price.

Why it matters

Axon's underperformance is largely due to valuation compression and near-term profitability pressures, as the company has faced earnings misses, cost inflation, and rising operating expenses. Yet analysts believe the company's growth prospects remain strong, highlighting the potential for the stock to rebound and outperform the market.

The details

Axon Enterprise, headquartered in Scottsdale, Arizona, is best known for its conducted-energy weapons (TASER devices) and body-worn camera systems. The company has a market cap of $34.2 billion and has seen its stock price decline 19.9% over the past 52 weeks, compared to a 13% gain in the S&P 500 Index.

  • Axon's stock has declined 23.6% year-to-date, compared to a marginal drop in the S&P 500.
  • On January 6, 2026, Northcoast Research upgraded the stock to 'Buy' from 'Neutral' and set a $742 price target.

The players

Axon Enterprise, Inc.

A public safety technology company that develops connected hardware, software, and cloud services for law enforcement, defense, and enterprise security customers.

Northcoast Research

An investment research firm that upgraded Axon's stock to 'Buy' from 'Neutral' and set a $742 price target.

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What’s next

Investors will be closely watching Axon's upcoming earnings reports to see if the company can address the profitability pressures and regain the market's confidence.

The takeaway

Despite Axon's recent underperformance, Wall Street analysts remain bullish on the company's long-term growth prospects, highlighting the potential for the stock to rebound and outperform the broader market.