Key Highlights

● Axon Enterprise shares fell 6.45% to close at $390.29 on October 16.

● The consensus 12-month price target is $690.68, implying about 77.0% upside.

● Analysts are split 18 Buy, 3 Hold, and 0 Sell on the stock.

● Targets range from $440 to $830 across 21 analysts.

Axon Enterprise (NASDAQ:AXON), a Nasdaq-listed company, closed at $390.29 on October 16, 2026 (Friday October 16, 2026). It is a member of the Nasdaq-100. The consensus analyst price target is $690.68, which suggests potential upside of about 77.0% from the latest close if the consensus proves accurate. Shares fell 6.45% on the day and have drawn attention after a run of target reductions.

What Is the Latest Analyst Price Target?

According to market data, 21 analysts cover the stock, with a mean target of $690.68, a median of $700, a high of $830 and a low of $440. Data date: October 15, 2026 (page last updated). The consensus rating is Buy. Targets range from $440 to $830. Recent actions include Raymond James maintaining Buy and cutting to $675 from $800 on October 15, 2026, UBS maintaining Hold and cutting to $470 from $600 on 13 October, RBC Capital maintaining Buy at $735 on 29 September, TD Cowen reiterating Buy at $825 on 11 September, and Argus raising to $600 from $460 on 3 September.

What Are Analysts Saying?

The rating split is 18 Buy (10 Strong Buy, 8 Buy), 3 Hold, 0 Sell. The ratings are strongly positive, with 18 of 21 analysts at Buy or Strong Buy and none at Sell. Supporters highlight growth: second-quarter 2026 revenue rose 35% to $904 million, the tenth straight quarter of growth above 30%, according to market data. Reuters reported lower gross margin due to a higher mix of professional services and investment in new products.

What Could Help the Stock Reach the Price Target?

If the consensus proves accurate, continued strong revenue growth, federal contract wins and margin recovery could help narrow the gap with the average target. The consensus target suggests there is room for recovery, but this depends on delivery and market conditions.

What Could Prevent the Stock Reaching the Target?

The shares are well below the consensus level, and recent downgrades of targets show estimates are moving down. Margin pressure, the dilution risk associated with the 0% convertible notes due 2031 ($1.0 billion priced in September), and a high valuation may all weigh.

What Should Investors Watch Next?

Axon's next earnings report is estimated for November 3, 2026, although this is an unconfirmed estimate. Investors may watch growth, margins and any further target changes. Axon priced a $1.0 billion offering of 0% convertible senior notes due 2031 in September 2026 and announced federal contract awards in October 2026.

A Big If Behind the Upside

The consensus target of $690.68 implies about 77.0% above the $390.29 close on October 16, 2026, but analyst forecasts can change and are not guarantees of future performance.