TD Cowen Cuts Axon Enterprise (AXON) Price Target to $800
Key Points
- TD Cowen adjusted its price target for Axon from $825 to $800 on October 26, 2026, while still rating the stock as a Buy.
- TD Cowen's $800 price target implies 89.42% upside from Axon Enterprise, Inc.'s ($AXON) current $422.34 share price.
- As of October 26, 2026, Axon shares traded at about $422.34, which is roughly 47.2% below the new analyst target.
- The company is set to report its next earnings on November 5, 2026, following a year-over-year revenue growth of 35.3%.
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On October 26, 2026, TD Cowen lowered its price target for Axon Enterprise, Inc. from $825 to $800 while maintaining a Buy rating. The firm made this change in light of the company's recent performance and market conditions.
AXON
Axon Enterprise, Inc.
TD Cowen vs. the S&P 500
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TD Cowen's Call on Axon Enterprise
TD Cowen's new price target of $800 represents a decrease from its previous target of $825. The firm continues to hold a Buy rating on the stock, indicating a positive outlook despite the lowered target.
Other Institutional Activity in Axon Enterprise
Baillie Gifford & Co increased its stake in Axon by 599,697 shares, bringing its total holdings to 3,059,487 shares valued at about $1.29 billion. This move reflects a 24.4% increase in their position, showing continued confidence in the company.
Axon Enterprise, Inc. Stock Up 1.9%
Axon shares recently traded around $422.34, which is about equal to the closing price of $423.06 on the same day. The stock is currently trading below its 50-day and 200-day moving averages by 12.5% and 12.7%, respectively. Additionally, it is 44.7% below its 52-week high of $764.02, but 24.6% above its 52-week low of $339.01.
$AXON price target
Axon Enterprise, Inc. daily closes and this analyst's $800 target. Not advice.
Recent Earnings
In its most recent financials, Axon reported trailing twelve-month revenue of approximately $3.22 billion, reflecting a year-over-year growth of 35.3%. The company also posted an earnings per share (EPS) of $2.41. Axon is scheduled to announce its next earnings on November 5, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
4 target cuts vs 1 raises.
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EPS & revenue
EPS missed estimates by 1.3%. Revenue beat estimates by 1.7%.
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Profit surprise
EBITDA missed by 65 percent. Operating income missed by 69 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
1 target raise, 4 target cuts.
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Earnings quality
Gross margin down 1.5 points. Operating margin up 5.7 points. Positive free cash flow.
Earnings Call Summary
The quarter was the strongest ever for first quarter results, with revenue up 34 percent year over year to 807 million dollars. AI Era Plan bookings jumped 140 percent and Dedrone counter-drone business exploded up 500 percent, driven by demand across law enforcement, enterprise, and international markets. Management says they are at an inflection point where AI and connected devices are becoming essential infrastructure that customers want to deploy immediately, with nearly all large police agencies now including AI in their technology plans.
Guidance Axon expects full year revenue growth of 30 to 32 percent and raised that guidance from prior expectations. The company plans to spend about 450 million dollars on free cash flow this year and maintain 25.5 percent adjusted EBITDA margins. Management says AI adoption and counter-drone demand are accelerating faster than planned.
Severe negative reset. The report materially damaged the forward outlook and likely forces major downward revisions.
Analysts Set New Price Targets
On October 26, 2026, TD Cowen maintained its Buy rating on Axon while lowering its price target to $800. Earlier, on October 20, 2026, Piper Sandler maintained its Overweight rating but reduced its target to $561 from $732. Other analysts like UBS and Morgan Stanley have also set their targets at $600 and $640, respectively.
About Axon Enterprise, Inc.
Axon Enterprise, Inc. develops technology solutions for public safety. The company offers cloud-based software and connected devices to help law enforcement agencies manage and analyze digital evidence. This business focus positions Axon well in a growing market for public safety technology.
Bottom Line
Investors should keep an eye on Axon's upcoming earnings report on November 5, 2026, as it could provide further insights into the company's performance. With TD Cowen's recent adjustment of its price target, market watchers may want to consider how these changes affect investor sentiment moving forward.
Related Filing Alerts
Source: TD Cowen's rating change on $AXON (Oct 26, 2026). Written by software, not financial advice. How we make alerts