Here's How Axon Shares Can Hit $900 in 2026

"Analysts are overwhelmingly bullish on Axon. The average Wall Street price target sits at $820, implying 38% upside. Out of 19 analysts covering the stock, 17 rate it a Buy or Strong Buy, with 2 Hold ratings and zero Sells. The optimism is grounded in strong fundamentals. Revenue grew 30.6% year over year in the most recent quarter, and analysts expect that momentum to continue."

"The Software & Services segment, which generates recurring revenue from cloud-based evidence management and AI analytics, grew 39.6% in the first nine months of 2025. That high-margin business is driving margin expansion and improving profitability. Management raised full-year 2025 revenue guidance to reflect approximately 31% growth, signaling confidence despite a Q3 earnings miss. Recent contract wins reinforce the growth story. In December, Axon secured deals worth nearly $25 million with police departments in Rialto, California ($14.3 million) and Kennewick, Washington ($10.6 million) for AI-powered body cameras and cloud services."

"At $594, Axon trades at 76x forward earnings based on 2026 estimates. If shares hit $900, the stock would trade at roughly 115x forward earnings. That's expensive, but the company is growing revenue at 31% annually and software revenue at nearly 40%. For a business transitioning to a recurring revenue model with expanding margins, premium multiples are justified. Compare that to the S&P 500's forward P/E of around 22x. Axon commands a significant premium, but so do other high-growth software businesses."

Axon’s stock is flat year-to-date but surged nearly 12% over the past month, rising from about $531 to near $594. Wall Street’s average price target is $820, implying roughly 38% upside, with 17 of 19 analysts rating the stock Buy or Strong Buy. Revenue grew 30.6% year-over-year in the most recent quarter, and Software & Services revenue increased 39.6% in the first nine months of 2025. Management raised full-year 2025 revenue guidance to about 31% growth. Recent contracts totaling nearly $25 million demonstrate demand for AI-powered body cameras and cloud services. Valuation reflects high-growth software multiples.

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