Axon Enterprise Market Insights
Axon Enterprise (NASDAQ: AXON) has seen its shares surge 2,000% over the past decade, yet all Wall Street analysts agree the stock, currently priced at $405, remains undervalued. Projections indicate that Axon’s adjusted earnings are expected to grow at 24% annually through 2027. Despite falling short of competitor performance metrics, the company’s integration of AI into its public safety product line positions it favorably within a $159 billion addressable market.
In Q4, Axon reported a 39% revenue increase to $797 million and a remarkable 84% rise in non-GAAP earnings to $2.15 per diluted share. Bookings soared 43% to $14.4 billion, signaling robust future growth. Analysts have set price targets ranging from $570 to $825 per share, which reflects a potential upside of 40% to 103% from current levels.
Management anticipates a revenue increase to $6 billion by 2028, further supporting the case for long-term investment. With a median target of $700 per share among 23 analysts, Axon’s current valuation of 59 times adjusted earnings is considered justifiable given the expected annual growth.
