Axon Enterprise, Inc.
In the published model solve dated 2026-Q2, anchored at $601.47, Axon Enterprise, Inc. (AXON) is priced for today's economics sustained for ~28.3 years. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• Software and Services is now the largest revenue line at about 43% of the total, ahead of TASER at 33%, so the company known for stun guns earns most of its money from cloud subscriptions and the hardware increasingly serves as the entry point. • Reported profitability is the puzzle: the trailing operating line produced roughly 0.6% of revenue, with the 10-K attributing the compression to costs ⟦"primarily driven by higher stock-based compensation expense and acquired intangibles amortization"
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1,015 institutional managers reported holding AXON in 13F filings for the quarter ended 2026-03-31. Together they hold about 80% of the company; the top 10 hold 43%. 112 opened new positions that quarter. Held by Vanguard Group, BlackRock, State Street, among others. On the short side, 3.8M shares were sold short as of the 2026-06-15 count, about 5% of shares outstanding (3.5 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
AXON's share count grew 23% over the past five years. It pays no dividend.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at AXON over the trailing three years: 2025: 1 buy totaling $1.00M. 18 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
AXON's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-05-10 | -13.1% | +1.6% |
| 2023-08-09 | +11.6% | +9.6% |
| 2023-11-08 | +5.8% | +8.6% |
| 2024-05-08 | -1.9% | -6.0% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
AXON's latest 8-K filings: 2026-08-05 (items 2.02, 9.01); 2026-07-10 (items 5.02); 2026-06-01 (items 5.07, 9.01); 2026-05-06 (items 2.02, 9.01); 2026-04-10 (items 5.02).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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