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Scottsdale, Arizona-based Axon Enterprise, Inc. (AXON) provides public safety technology solutions in the United States and internationally. Valued at a market cap of $35.6 billion, the company operates in two segments: Software and Services, and Connected Devices.
Companies with a market cap of $10 billion or more are typically referred to as “big-cap stocks.” AXON fits right into that category, with its market cap exceeding this threshold, reflecting its substantial size and influence in the aerospace and defense industry.
Despite its strength, AXON stock slipped 50.1% from its 52-week high of $885.91, reached on Aug. 5, 2025. The stock is down 11.6% over the past three months, underperforming the S&P 500 Index’s ($SPX) 11.4% rise during the same time frame.
Moreover, AXON has lagged behind the broader market over the longer term. The stock has fallen 43% over the past 52 weeks, while SPX delivered 22.9% returns over the same time frame.
AXON has been trading below its 200-day moving average since last year but above its 50-day moving average since the end of May.
On May 7, AXON stock rose 10.7% following the release of its Q1 2026 earnings. The company’s revenue for the quarter came in at $807.3 million and surpassed the Street’s estimates. Moreover, its adjusted EPS amounted to $1.61, missing Wall Street’s forecasts.
When stacked against its peer, L3Harris Technologies, Inc. (LHX), AXON has underperformed. Over the past year, LHX stock has surged 22.9%.
Wall Street has a highly bullish view of the stock currently. Among the 20 analysts tracking FSLR, the overall consensus stands at a “Strong Buy.” Its mean price target of $669 offers a 51.4% upside potential from current prices.
