Axon rallies 12% as upbeat 2026 outlook and fresh price-target hike lift sentiment

Axon Enterprise (AXON) is up 12.3% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied to investors re-pricing Axon after strong Q1 results and a higher full-year 2026 revenue outlook, with follow-through from at least one notable Wall Street price-target increase. The combination of accelerating software/AI-driven offerings and management’s cash-flow framework likely reinforced the bullish narrative.

Details:

Axon reported Q1 2026 revenue of $807 million, up 34% year over year.

The company raised its full-year 2026 revenue growth outlook to 30%–32% (from 27%–30% previously) while maintaining its Adjusted EBITDA margin target.

Management’s 2026 cash generation framework included expectations of over $600 million in operating cash flow and about $450 million in free cash flow.

Following the earnings update, a major bank maintained an Overweight/Buy stance and nudged its price target higher to $755, helping support the sharp one-day jump.

Sources:

Axon Investor Relations, U.S. Securities and Exchange Commission, Stock Analysis

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$AXON Insider Trading Activity

$AXON insiders have traded $AXON stock on the open market 56 times in the past 6 months. Of those trades, 0 have been purchases and 56 have been sales.

Here’s a breakdown of recent trading of $AXON stock by insiders over the last 6 months:

PATRICK W SMITH (CHIEF EXECUTIVE OFFICER) has made 0 purchases and 22 sales selling 30,000 shares for an estimated $16,711,709.
JOSHUA ISNER (PRESIDENT) has made 0 purchases and 10 sales selling 22,041 shares for an estimated $12,144,156.
BRITTANY BAGLEY (COO & CFO) has made 0 purchases and 7 sales selling 6,266 shares for an estimated $3,518,679.
JENNIFER H MAK (Chief Accounting Officer) has made 0 purchases and 4 sales selling 3,602 shares for an estimated $2,071,994.
ISAIAH FIELDS (Chief Legal Officer) has made 0 purchases and 3 sales selling 4,000 shares for an estimated $1,870,016.
JEFFREY C KUNINS (CPO & CTO) has made 0 purchases and 5 sales selling 1,797 shares for an estimated $968,992.
CAITLIN ELIZABETH KALINOWSKI sold 930 shares for an estimated $497,879
JERI WILLIAMS has made 0 purchases and 3 sales selling 257 shares for an estimated $131,993.
ERIKA NARDINI sold 198 shares for an estimated $100,302

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$AXON Hedge Fund Activity

We have seen 537 institutional investors add shares of $AXON stock to their portfolio, and 699 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

BAILLIE GIFFORD & CO added 1,516,099 shares (+1198.7%) to their portfolio in Q4 2025, for an estimated $861,038,105
WELLINGTON MANAGEMENT GROUP LLP added 878,378 shares (+57.0%) to their portfolio in Q1 2026, for an estimated $366,749,166
WINSLOW CAPITAL MANAGEMENT, LLC removed 547,802 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $228,723,769
EDGEWOOD MANAGEMENT LLC added 537,895 shares (+36.1%) to their portfolio in Q1 2026, for an estimated $224,587,299
PRICE T ROWE ASSOCIATES INC /MD/ added 477,470 shares (+153.4%) to their portfolio in Q1 2026, for an estimated $199,358,049
UBS GROUP AG added 365,442 shares (+68.7%) to their portfolio in Q1 2026, for an estimated $152,582,998
1832 ASSET MANAGEMENT L.P. added 300,350 shares (+inf%) to their portfolio in Q1 2026, for an estimated $125,405,135

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$AXON Government Contracts

We have seen $73,319,810 of award payments to $AXON over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard. You can access data on government contracts through the Quiver Quantitative API government contracts endpoint.

$AXON Analyst Ratings

Wall Street analysts have issued reports on $AXON in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

JP Morgan issued a "Overweight" rating on 05/07/2026
Morgan Stanley issued a "Overweight" rating on 12/17/2025

To track analyst ratings and price targets for $AXON, check out Quiver Quantitative's $AXON forecast page.

$AXON Price Targets

Multiple analysts have issued price targets for $AXON recently. We have seen 10 analysts offer price targets for $AXON in the last 6 months, with a median target of $674.5.

Here are some recent targets:

Tim Long from Barclays set a target price of $523.0 on 05/08/2026
James Fish from Piper Sandler set a target price of $674.0 on 05/07/2026
Trevor Walsh from Citizens set a target price of $700.0 on 05/07/2026
Joseph Cardoso from JP Morgan set a target price of $755.0 on 05/07/2026
Andrew Spinola from UBS set a target price of $440.0 on 05/07/2026
Michael Ng from Goldman Sachs set a target price of $625.0 on 04/08/2026
Andrew Sherman from TD Cowen set a target price of $825.0 on 04/08/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.