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AXON

Axon Enterprise Inc.

NASDAQ: AXON · INDUSTRIALS · AEROSPACE & DEFENSE

$401.76
+0.30% today

Updated 2026-04-30

Market cap
$32.74B
P/E ratio
270.87
P/S ratio
11.78x
EPS (TTM)
$1.50
Dividend yield
—
52W range
$339 – $886
Volume
1.1M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Axon Enterprise Inc. (AXON) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$401.76
Consensus
$747.59
+86.08%
2030 Target
$1,238.43
+208.25%
DCF
—
—
14 analysts:
9 Buy1 Hold0 Sell

Management guidance

CEO Patrick Smith has not provided explicit multi-year revenue targets in available guidance. However, Q4 2025 earnings showed record bookings of $750M in AI-related deals and management highlighted 'supercharged' AI-driven demand. Company provided 2026 revenue guidance of $3.66B (31.5% growth), but no specific guidance beyond 2026.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$2,064.05
$8.3B Rev × 20x P/S
Base case (2030)
$1,238.43
$8.3B Rev × 12x P/S
Bear case (2030)
$825.62
$8.3B Rev × 8x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$1.6B$2.1B$2.8B$3.7B$4.7B$5.8B$7.0B$8.3B
Revenue growth—33.4%33.5%31.5%28.7%24.2%20.0%17.9%
EPS$4.13$5.88$6.85$7.93$10.71$13.50$16.80$20.70
P/S ratio———12.0x12.0x12.0x12.0x12.0x
Implied price———$536.65$701.78$866.90$1,032.03$1,238.43

Catalysts & risks

Growth catalysts
+ AI software monetization acceleration - $750M in Q4 2025 AI bookings suggests 40%+ AI revenue contribution by 2027
+ International expansion - growing international revenue from public safety contracts outside North America
+ Government defense spending increases - Trump administration defense budget expansion and law enforcement funding
+ Cloud and SaaS recurring revenue transition - shifting from hardware (TASER) to software subscriptions
+ Axon Cloud platform adoption - AI-powered evidence management gaining market share
Key risks
- Extreme valuation - P/E of 270x, EV/Sales of 12x leaves little room for disappointment
- TASER hardware demand softening - core business showing deceleration; law enforcement budget constraints cited
- Profitability concerns - operating margin negative (-2.13%), net margin only 4.5%; growth not translating to earnings
- Market saturation in core U.S. law enforcement - addressable market for traditional products maturing
- AI execution risk - $750M in AI bookings must convert to revenue and margins; unproven at scale
- Insider selling pressure - CRO and other insiders liquidating positions despite positive guidance

Methodology

Axon Enterprise Inc.'s forward estimates are derived from AI-powered research synthesis combining analyst consensus from 14 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 7, 2026.