# AXON Stock vs the S&P 500: Returns, Risk and Crash History

> Axon Enterprise, Inc., industrials (market value $24.6 billion), a member of the S&P 500 and the Nasdaq‑100: how it compared with the S&P 500, how it behaved in every crash since 2008, its risk‑adjusted returns and what analysts said. Returns to Oct 30, 2026; analyst data as of Nov 9, 2026.

Source: https://www.exent.ai/stocks/axon · Reviewed by David, Senior Analyst, Exent · Published Oct 31, 2026 · Updated Nov 11, 2026

**What changed since Nov 2, 2026:** Buy ratings 94% → 95%

## Key takeaways

- AXON returned +137.7% over the 5 years to Oct 30, 2026 versus +75.9% for the S&P 500: it beat the index.
- Its 5-year Sharpe ratio was 0.51 against 0.58 for the S&P 500.
- Its deepest crisis drawdown was −85.8% in the global financial crisis (2007–09) (S&P 500: −56.5%).
- Five‑year volatility was 51.0% and beta 1.47.
- 20 analysts rated it in the past year; 95% of their latest calls were Buy.
- AXON beat earnings estimates in 11 of its last 12 reports; the stock moved 15.1% on average, up or down, around each report.

## Did AXON beat the S&P 500?

Over the 5 years to Oct 30, 2026, Axon Enterprise, Inc. (AXON) returned **+137.7%** including dividends, versus **+75.9%** for the S&P 500 (SPY). It beat the index by 61.8 percentage points, or +18.9% a year against +12.0%.

| Period | AXON | S&P 500 | AXON per year | S&P 500 per year | Result |
| --- | --- | --- | --- | --- | --- |
| 1 year | −41.6% | +12.0% | −41.6% | +12.0% | Lagged |
| 3 years | +109.2% | +87.4% | +27.9% | +23.3% | Beat |
| 5 years | +137.7% | +75.9% | +18.9% | +12.0% | Beat |
| 10 years | +1,811% | +316.3% | +34.3% | +15.3% | Beat |

Total return with dividends reinvested, from month-end prices to Oct 30, 2026. Beating the index on raw return is only half the story: the next section adjusts for the risk taken. See also [how to beat the S&P 500](https://www.exent.ai/beat-the-market).

AXON is in the [S&P 500](https://www.exent.ai/stocks/sp-500) and the [Nasdaq‑100](https://www.exent.ai/stocks/nasdaq-100) (members as of Oct 20, 2026); the lists show every member’s return against the index.

## What Wall Street analysts say about AXON

In the 12 months to 30 days ago, 20 analysts published 194 ratings on AXON. Their latest calls were 95% Buy, 5% Hold and 0% Sell. 12 of them rank 4★ or higher in Exent’s analyst scoring, which is based on each analyst’s past price‑target hit rate and returns.

The consensus 12‑month price target was $612.56 (range $500.00–$715.00), +102.5% from the last price. Remember that the average analyst’s target is hit only about half the time: [how accurate are price targets?](https://www.exent.ai/resources/are-analyst-price-targets-accurate)

| Top‑ranked analyst covering | Firm | Stars | Price‑target hit rate |
| --- | --- | --- | --- |
| Members only | Members only | 4.9★ | 49.4% |
| [George Notter](https://www.exent.ai/analysts/george-notter) | [Wolfe Research](https://www.exent.ai/firms/wolfe-research) | 4.9★ | 56.4% |
| [William Power](https://www.exent.ai/analysts/william-power) | [Robert W. Baird](https://www.exent.ai/firms/robert-w-baird) | 4.9★ | 59.8% |
| [Tim Long](https://www.exent.ai/analysts/tim-long) | [Barclays](https://www.exent.ai/firms/barclays) | 4.9★ | 72.7% |
| Members only | Members only | 4.8★ | 55.6% |

Other analysts covering AXON: [Andrew Sherman](https://www.exent.ai/analysts/andrew-sherman) · [Erik Suppiger](https://www.exent.ai/analysts/erik-suppiger) · [David Paige](https://www.exent.ai/analysts/david-paige) · [James Fish](https://www.exent.ai/analysts/james-fish) · [Meta Marshall](https://www.exent.ai/analysts/meta-marshall)

Ratings are shown with a 30‑day delay. Who the top‑ranked analysts on AXON are, their live calls and the median target of only the top‑rated analysts are in [Exent Gems](https://www.exent.ai/radar).

The average analyst’s target is reached about 53.1% of the time; Exent Gems is built on the top 50 of Exent’s ranking,where some reached 90% or more over the last two years. [Unlock the top 50 analysts](https://www.exent.ai/radar).

## AXON returns by year vs the S&P 500

AXON beat the S&P 500 in 6 of the 9 full calendar years shown.

| Year | AXON | S&P 500 | Difference |
| --- | --- | --- | --- |
| 2026 (to Oct 30, 2026) | −24.7% | +11.7% | −36.4% |
| 2025 | −4.4% | +17.7% | −22.1% |
| 2024 | +130.1% | +24.9% | +105.2% |
| 2023 | +55.7% | +26.2% | +29.5% |
| 2022 | +5.7% | −18.2% | +23.9% |
| 2021 | +28.1% | +28.7% | −0.6% |
| 2020 | +67.2% | +18.3% | +48.9% |
| 2019 | +67.5% | +31.2% | +36.3% |
| 2018 | +65.1% | −4.6% | +69.7% |
| 2017 | +9.3% | +21.7% | −12.4% |

## AXON risk-adjusted returns: Sharpe, Sortino and volatility

Over 5 years, AXON had a Sharpe ratio of **0.51** against 0.58 for the S&P 500, so it earned less return per unit of risk than the index. Its annualized volatility was 49.4% and its beta 1.47: it tended to move about 1.5× as much as the market.

| Metric | AXON | S&P 500 |
| --- | --- | --- |
| Annual return | +18.9% | +12.0% |
| Volatility (annualized) | 49.4% | 15.5% |
| Sharpe ratio | 0.51 | 0.58 |
| Sortino ratio | 0.91 | 0.91 |
| Max drawdown (month-end) | −51.5% | −23.9% |
| Beta to the S&P 500 | 1.47 | 1.00 |

[Sharpe](https://www.exent.ai/learn/sharpe-ratio) divides return above cash by total volatility; [Sortino](https://www.exent.ai/learn/sortino-ratio) counts only downside volatility. Both use monthly returns and the 1–3 month T‑bill ETF (BIL) as the risk‑free rate.

## How AXON behaved in past crashes

AXON’s deepest fall in the crises below was **−85.8%** in the global financial crisis (2007–09), against −56.5% for the S&P 500. The last column turns that into money: what a $100,000 position would have lost from peak to trough.

| Crisis | AXON | S&P 500 | Loss on $100,000 |
| --- | --- | --- | --- |
| Global financial crisis (2007–09) | −85.8% | −56.5% | −$85,750 |
| 2018 trade-war selloff | −41.9% | −20.2% | −$41,930 |
| COVID crash (Feb–Mar 2020) | −40.8% | −34.1% | −$40,820 |
| 2022 inflation bear market | −44.8% | −25.4% | −$44,810 |
| 2025 tariff selloff | −16.3% | −19.0% | −$16,310 |

| Window | AXON max drawdown |
| --- | --- |
| Last 1 year | −53.2% |
| Last 3 years | −65.3% |
| Last 5 years | −65.3% |
| Last 10 years | −58.5% |

Peak‑to‑trough declines from daily prices inside each crisis window. A crash replay does not predict the next crisis; it shows how much room a holding needs. Run the same replay on a whole portfolio with the [crash test](https://www.exent.ai/tools/crash-test).

## What moves with AXON, and what doesn’t

Correlation runs from −1 (moves opposite) to +1 (moves in lockstep). Over the last 60 months of monthly returns, AXON’s correlation with the S&P 500 was **0.46**, with the Nasdaq‑100 0.40, with long Treasuries (TLT) 0.33 and with gold (GLD) 0.06.

Adding a 5% AXON position to an S&P 500 portfolio would have moved its 5‑year volatility from 15.5% to 16.0%.

| Least correlated large caps | Correlation | Most correlated large caps | Correlation |
| --- | --- | --- | --- |
|  | −0.20 |  | 0.59 |
|  | −0.08 |  | 0.53 |
|  | −0.07 |  | 0.52 |
|  | −0.06 |  | 0.50 |
|  | −0.06 |  | 0.50 |

Holdings that are highly correlated behave like one position in a selloff. See [how to find hidden overlap](https://www.exent.ai/resources/is-my-portfolio-diversified).

## Latest AXON upgrades, downgrades and price‑target changes

| Date | Rating and target | Analyst |
| --- | --- | --- |
| Nov 6 | Target cut Buy Target $650, was $800 | [Andrew Sherman](https://www.exent.ai/analysts/andrew-sherman) TD Cowen |
| Nov 6 | Target cut Buy Target $485, was $640 | [Meta Marshall](https://www.exent.ai/analysts/meta-marshall) Morgan Stanley |
| Nov 6 | Target cut Buy Target $507, was $688 | [Tim Long](https://www.exent.ai/analysts/tim-long) Barclays |
| Nov 6 | Target cut Buy Target $600, was $675 | [William Power](https://www.exent.ai/analysts/william-power) Robert W. Baird |
| Nov 6 | Target cut Buy Target $540, was $561 | [James Fish](https://www.exent.ai/analysts/james-fish) Piper Sandler |
| Nov 6 | Target cut Buy Target $615, was $735 | [David Paige](https://www.exent.ai/analysts/david-paige) RBC Capital |
| Oct 26 | Target cut Buy Target $800, was $825 | [Andrew Sherman](https://www.exent.ai/analysts/andrew-sherman) TD Cowen |
| Oct 20 | Target cut Buy Target $561, was $732 | [James Fish](https://www.exent.ai/analysts/james-fish) Piper Sandler |
| Oct 12 | Target cut Hold Target $470, was $600 | Andrew Spinola UBS |

Named analysts’ rating and price‑target changes on AXON in the 5 weeks to Oct 12, 2026, shown 30 days after publication (the free analysts’ calls 3 days after). The top‑ranked analysts’ calls are in [Exent Gems](https://www.exent.ai/radar). [See all of the latest analyst upgrades and downgrades](https://www.exent.ai/analysts/upgrades).

## Do analysts get AXON right?

Of the 313 analyst price targets on AXON set from 2019 until a year ago, **86.3%** were reached within 12 months (data to Oct 20, 2026), 17.7 points above the 68.6% hit rate of the median stock in Exent’s study of 794 stocks. Targets that were reached took a median of 53 days. The median target sat 17.3% above the share price on the day it was set.

Where analysts said AXON would be by now: a year ago, 13 analysts had a price target on AXON, and the median of their latest targets was **$805.00**. On Oct 20, 2026 AXON closed at $392.42, 51.3% below it.

- **86.3%** of targets reached within 12 months

- **53 days** median time to reach a target

- **−51.3%** price now vs the median target set a year ago

| After | Calls | Move on the call | 3 months vs S&P 500 |
| --- | --- | --- | --- |
| Upgrades of AXON | 9 | +8.2% | +5.2% |
| Upgrades, all stocks | 11,514 | +2.5% | +3.4% |
| Downgrades of AXON | 7 | −11.5% | −1.0% |
| Downgrades, all stocks | 10,700 | −3.0% | −1.6% |

The move on the call runs from the close before the rating change to the close after it; the last column is the stock’s return minus the S&P 500’s over the next three months. Averages of rating changes on AXON through Sep 15, 2026; analysts are not named here. [Do analyst upgrades move stocks?](https://www.exent.ai/resources/do-analyst-upgrades-move-stocks)

## How AXON moves after earnings

AXON beat the consensus earnings‑per‑share estimate in **11 of its last 12** quarterly reports, through the one on Aug 5, 2026, and the revenue estimate in 11 of 12. From the close before each report to the close after it, the stock moved 15.1% on average, up or down, against 6.8% for the average report across the 1,002 US stocks Exent tracks. It rose after 9 of the 12 reports. In 2 of the 11 beats the stock still fell.

- **11/12** earnings beats

- **±15.1%** average move per report

- **9/12** reports followed by a rise

| Report | EPS vs estimate | Revenue vs estimate | Stock move |
| --- | --- | --- | --- |
| Aug 5, 2026 | $1.88 vs $1.84 | +3.2% | −14.0% |
| May 6, 2026 | $1.61 vs $1.60 | +3.4% | +12.2% |
| Feb 24, 2026 | $2.15 vs $1.60 | +5.4% | +22.8% |
| Nov 4, 2025 | $1.17 vs $1.52 | +0.8% | −11.7% |
| Aug 4, 2025 | $2.12 vs $1.45 | +4.3% | +16.8% |
| May 7, 2025 | $1.41 vs $1.27 | +2.9% | +14.2% |
| Feb 25, 2025 | $2.08 vs $1.37 | +1.6% | +14.5% |
| Nov 7, 2024 | $1.45 vs $1.20 | +3.6% | +31.3% |

Reported earnings per share against the consensus estimate, revenue surprise in percent, and the stock’s price change over the two sessions around the report. [How stocks move after earnings](https://www.exent.ai/resources/how-stocks-move-after-earnings)

## Where AXON’s revenue comes from

In fiscal 2025 (the year to Dec 31, 2025), AXON’s largest reported region was the United States, with 82.9% of its $2.8 billion revenue. By region: United States 82.9%; Non-US 17.1%.

By business, the largest segment was Software And Sensors Segment, with 43.3% of $2.8 billion revenue.

| Segment | Revenue | Share | Growth |
| --- | --- | --- | --- |
| Software And Sensors Segment | $1.2 billion | 43.3% | — |
| TASER X2 | $913.9 million | 32.9% | — |
| Axon Body | $397.0 million | 14.3% | — |
| Platform Solutions | $265.9 million | 9.6% | — |

From AXON’s annual filings; segment growth compares fiscal 2025 with the year before. Regions are as each company reports them, so one company’s “Asia Pacific” is not another’s. China counts the regions a company reports as China, Greater China or Hong Kong; a separately reported Taiwan is not counted. [Which S&P 500 companies depend most on China?](https://www.exent.ai/resources/sp-500-china-revenue-exposure)

## Members of Congress who traded AXON

As of Oct 20, 2026, **5 members of Congress** had disclosed 10 trades in AXON (5 buys and 5 sales) in STOCK Act disclosures filed with the House and Senate. The latest public trade is dated Mar 27, 2026.

| Trade date | Member | Type | Amount |
| --- | --- | --- | --- |
| Mar 27, 2026 | [Alan Armstrong](https://www.exent.ai/congress/alan-armstrong) | Buy | $1,001–$15,000 |
| May 12, 2025 | [Jefferson Shreve](https://www.exent.ai/congress/jefferson-shreve) | Sale | $15,001–$50,000 |
| Mar 5, 2025 | [Jefferson Shreve](https://www.exent.ai/congress/jefferson-shreve) | Buy | $15,001–$50,000 |
| Jan 13, 2025 | [Rob Bresnahan](https://www.exent.ai/congress/rob-bresnahan) | Sale | $1,001–$15,000 |
| Dec 18, 2024 | [Markwayne Mullin](https://www.exent.ai/congress/markwayne-mullin) | Sale | $15,001–$50,000 |
| Dec 18, 2024 | [Markwayne Mullin](https://www.exent.ai/congress/markwayne-mullin) | Sale | $15,001–$50,000 |
| Jan 4, 2024 | [Markwayne Mullin](https://www.exent.ai/congress/markwayne-mullin) | Buy | $1,001–$15,000 |
| Jan 4, 2024 | [Markwayne Mullin](https://www.exent.ai/congress/markwayne-mullin) | Buy | $1,001–$15,000 |
| Oct 24, 2023 | [Greg Stanton](https://www.exent.ai/congress/greg-stanton) | Sale | $1,001–$15,000 |
| Sep 26, 2023 | [Greg Stanton](https://www.exent.ai/congress/greg-stanton) | Buy | $1,001–$15,000 |

Amounts are the ranges members report, not exact values. The STOCK Act gives members up to 45 days to disclose a trade, so trades appear weeks after they are made. [See every member’s disclosed trades](https://www.exent.ai/congress)

## Are AXON insiders buying or selling?

In the 12 months to Oct 20, 2026, AXON insiders made **no open‑market purchases** and **225 sales**, according to SEC Form 4 filings. The last open‑market purchase on record was on Aug 13, 2025.

After the 21 insider purchases of $10,000 or more since 2012, AXON beat the S&P 500 by an average of 42.4 percentage points over the next 12 months; 91% of them were followed by a beat. Across all 17,865 insider purchases in Exent’s study, the average was +17.2% and the median +1.0% against the index.

| Date | Insider | Role | Value |
| --- | --- | --- | --- |
| Aug 13, 2025 | Partovi Hadi | Director | $1.0 million |
| Jun 23, 2023 | Partovi Hadi | Director | $1.7 million |
| May 25, 2023 | Partovi Hadi | Director | $1.9 million |
| May 17, 2023 | Bagley Brittany | Cfo & Cbo | $50,000 |
| May 17, 2023 | Partovi Hadi | Director | $1.3 million |

The table lists the latest open‑market purchases on record, leaving out the last 30 days. The chart counts Form 4 purchases and sales by calendar quarter. Purchases are open‑market buys; sales include planned sales under 10b5‑1 trading plans. [Do insider buys beat the market?](https://www.exent.ai/resources/do-insider-buys-beat-the-market)

## How much of AXON is sold short?

As of the Sep 30, 2026 settlement date, **5.10%** of AXON’s float was sold short: 3.9 million shares, or 3.5 days of average trading volume to cover. A year earlier (Oct 15, 2025) it was 2.34%. The median across the 997 US stocks Exent tracks was 4.77%, so AXON is more heavily shorted than most.

From FINRA short‑interest reports, filed twice a month; the bars show the short share of the float at each month‑end. Days to cover divides the shares short by the average daily volume. [The most shorted stocks](https://www.exent.ai/resources/most-shorted-stocks)

## How many institutions own AXON?

At the end of Q2 2026 (Jun 30, 2026), **1,192 institutions** reported holding AXON in 13F filings, up 83 from the quarter before and down from 1,253 a year earlier. Their reported holdings add up to 91.1% of AXON’s shares. In the quarter 681 institutions added to their positions and 330 cut them.

- **1,192** 13F holders

- **207** new positions

- **127** positions closed

- **91.1%** of shares held by 13F filers

Investment managers with over $100 million in US equities file 13F reports within 45 days of each quarter end, so this is the latest complete quarter. Holdings can add up to more than 100% when shares are lent and counted twice. [Which stocks institutions are buying and selling](https://www.exent.ai/resources/institutional-ownership-13f-changes)

## Is AXON diluting shareholders?

AXON’s diluted share count **rose 61.9%** over the five fiscal years to fiscal 2025 and rose 27.3% in fiscal 2025 alone. Each share now owns a smaller slice of the company. The median change across the 1,005 US stocks Exent tracks was −0.1%.

Stock‑based compensation was $634.2 million in fiscal 2025, 22.8% of revenue. AXON did not buy back shares in fiscal 2025.

- **+27.3%** share count, 1 year

- **+61.9%** share count, 5 years

- **22.8%** stock pay as % of revenue

- **0.00%** buyback yield

Weighted‑average diluted shares from AXON’s annual income statements; stock‑based compensation and buybacks from its cash‑flow statement. [Stock dilution and stock‑based compensation, explained](https://www.exent.ai/resources/stock-dilution-and-stock-based-compensation)

## AXON financial health scores

In Exent’s Oct 20, 2026 snapshot, AXON’s Altman Z‑score was **5.97**, in the safe zone (where 465 of the 794 non‑financial US stocks Exent tracks sit). Its Piotroski F‑score was **5 out of 9**; 80% of scored stocks reach 5 or more.

- **5.97** Altman Z‑score: safe zone

- **5/9** Piotroski F‑score

The Altman Z‑score combines five balance‑sheet and earnings ratios into one bankruptcy‑risk score: below 1.81 is the distress zone, 1.81–2.99 grey, above 2.99 safe. It is not meaningful for banks, insurers and REITs. The Piotroski F‑score counts nine yes/no tests of profitability, leverage and efficiency; 8–9 is strong, 0–2 weak. Both come from the latest annual statements. [Which stocks have the highest bankruptcy risk?](https://www.exent.ai/resources/altman-z-score-bankruptcy-risk-stocks)

## What AXON talks about on earnings calls

On its latest earnings call (Aug 5, 2026), AXON’s executives and analysts mentioned AI **30 times**, against 40 on the call before (May 6, 2026); the average across 455 S&P 500 calls that quarter was 12.9. After AI, the most mentioned topic was data centers (4).

| Mentions | Aug ’26 | May ’26 | Feb ’26 | Nov ’25 |
| --- | --- | --- | --- | --- |
| AI | 30 | 40 | 73 | 22 |
| AI agents | 0 | 0 | 0 | 0 |
| Data centers | 4 | 2 | 0 | 1 |
| Tariffs | 4 | 1 | 5 | 13 |
| China | 0 | 0 | 0 | 0 |
| Recession | 0 | 0 | 0 | 0 |

Word counts in the full transcript of each call, prepared remarks and Q&A, newest first. “AI” also counts generative AI and large language models; “AI agents” counts agentic AI. [Which companies talk most about AI?](https://www.exent.ai/resources/ai-mentions-on-earnings-calls)

## Which ETFs hold AXON?

As of Oct 20, 2026, **54** of the 304 ETFs Exent tracks held AXON. Its largest weight is in XAR (State Street SPDR S&P Aerospace & Defense ETF), at 2.44% of the fund.

| ETF | Fund | Weight of AXON |
| --- | --- | --- |
| XAR | State Street SPDR S&P Aerospace & Defense ETF | 2.44% |
| ITA | iShares U.S. Aerospace & Defense ETF | 2.44% |
| PPA | Invesco Aerospace & Defense ETF | 1.88% |
| [IWP](https://www.exent.ai/etfs/iwp) | iShares Russell Mid-Cap Growth ETF | 0.88% |
| [VOT](https://www.exent.ai/etfs/vot) | Vanguard Mid-Cap Growth Index Fund | 0.77% |
| [XLI](https://www.exent.ai/etfs/xli) | State Street Industrial Select Sector SPDR ETF | 0.59% |
| VIS | Vanguard Industrials Index Fund ETF Shares | 0.49% |
| [VO](https://www.exent.ai/etfs/vo) | Vanguard Mid-Cap Index Fund ETF Shares | 0.32% |

Owning several of these funds stacks the same position. [How much do VOO, QQQ and VTI overlap?](https://www.exent.ai/resources/etf-overlap-voo-qqq-vti)

## How much is AXON’s CEO paid?

Patrick Smith, AXON’s Chief Executive Officer, received total pay of **$40,001** for fiscal 2025, down 100.0% from $164.5 million for fiscal 2024, according to the company’s [proxy statement](https://www.sec.gov/Archives/edgar/data/1069183/000162828026025521/0001628280-26-025521-index.htm) filed with the SEC on Apr 16, 2026. The median CEO pay across the 378 S&P 500 companies Exent tracks was $17.2 million, so AXON’s CEO earned less than most.

| Pay component | Amount | Share of total |
| --- | --- | --- |
| Salary | $31,201 | 78.0% |
| Other | $8,800 | 22.0% |

| Other top executives | Role | Total pay, 2025 |
| --- | --- | --- |
| Cameron Brooks | Chief Revenue Officer | $1.3 million |
| Brittany Bagley | Chief Operating Officer and Chief Financial Officer | $1.3 million |
| Jeffrey Kunins | Chief Product Officer and Chief Technology Officer | $864,211 |
| Joshua Isner | President | $728,341 |

Figures from the summary compensation table of the proxy statement; awards count at their grant‑date value, so one large multi‑year grant can make a single year stand out. [CEO pay across the S&P 500](https://www.exent.ai/resources/ceo-pay-sp-500)

## The right benchmark for AXON

Exent matches every holding to the index with the most similar risk. For AXON that is **SPY** (the S&P 500). Comparing a holding with an index that carries very different risk makes good results look bad and risky ones look clever. Read [why the S&P 500 is the wrong benchmark for most portfolios](https://www.exent.ai/resources/why-the-sp-500-is-the-wrong-benchmark).

## Other industrials stocks

| Ticker | Name | 5‑year return | Volatility (5y) |
| --- | --- | --- | --- |
|  | Space Exploration Technologies Corp. | — | — |
|  | GE Aerospace | +374.0% | 31.1% |
|  | RTX Corporation | +150.3% | 23.8% |
|  | Caterpillar Inc. | +231.6% | 32.4% |
|  | GE Vernova Inc. | — | — |
|  | Union Pacific Corporation | +41.0% | 22.6% |
|  | Deere & Company | +110.6% | 29.6% |
|  | Lockheed Martin Corporation | +119.1% | 23.0% |

## Data and methodology

Returns are total returns from month‑end adjusted closing prices (dividends reinvested) through Oct 30, 2026. Crisis drawdowns and trailing maximum drawdowns use daily prices. Analyst coverage counts ratings published in the last 12 months, shown with a 30‑day delay. Full method: [Exent methodology](https://www.exent.ai/methodology).

Company data as of Oct 20, 2026. The move around an earnings report runs from the close before it to the close after it; a price target counts as hit when the stock closed at or beyond it within 12 months (Exent analyst data). Revenue by region and segment, share counts and executive pay come from company filings; insider trades from SEC Form 4, short interest from FINRA, institutional ownership from 13F filings, Congress trades from STOCK Act disclosures filed with the House and Senate, federal contracts from USAspending.gov. Filings from the last 30 days are shown as counts only.

Past performance does not guarantee future results. Historical figures are calculated by Exent from market data and are for education only; they are not investment advice or a recommendation to buy or sell any security.

## Check AXON with Exent Gems

Wall Street’s average AXON price target is 102.5% above the latest share price. See what the best‑ranked analysts on AXON say now in Exent Gems.

1. Exent ranks Wall Street analysts by their past price‑target hit rate and returns, and keeps the best‑ranked few.
2. Gems shows who the top‑ranked analysts covering AXON are, their live calls and the median target of only the top‑rated analysts.
3. Gems flags the stocks where several top‑ranked analysts agree: a starting point for your own research, not a promise.

Exent is our product: [Exent Gems](https://www.exent.ai/radar)

Also: [Stress‑test your portfolio with AXON](https://www.exent.ai/portfolio)

## Frequently asked questions

### Did AXON beat the S&P 500 over the last 10 years?

Yes. AXON returned +1,811% (+34.3% a year) over the 10 years to Oct 30, 2026, versus +316.3% (+15.3% a year) for the S&P 500, including dividends.

### Is AXON in the S&P 500?

Yes. As of Oct 20, 2026, AXON (Axon Enterprise, Inc.) is one of the 503 stocks in the S&P 500. It is also in the Nasdaq-100.

### Is AXON in the Nasdaq-100?

Yes. As of Oct 20, 2026, AXON (Axon Enterprise, Inc.) is one of the 101 stocks in the Nasdaq-100.

### How much did AXON fall in the 2008 crash?

AXON fell −85.8% from peak to trough during the global financial crisis (2007–09), versus −56.5% for the S&P 500.

### How much did AXON fall in the COVID crash?

AXON fell −40.8% from peak to trough during the covid crash (feb–mar 2020), versus −34.1% for the S&P 500.

### How much did AXON fall in the 2022 bear market?

AXON fell −44.8% from peak to trough during the 2022 inflation bear market, versus −25.4% for the S&P 500.

### What is AXON’s Sharpe ratio?

Over the 5 years to Oct 30, 2026, AXON’s Sharpe ratio was 0.51 and its Sortino ratio 0.91, versus 0.58 and 0.91 for the S&P 500.

### Is AXON a volatile stock?

AXON’s 5‑year annualized volatility was 51.0%, higher than the S&P 500’s 17.0%, with a beta of 1.47.

### What is least correlated with AXON?

Among large US stocks, the lowest correlations with AXON over the last 60 months were PFE (−0.20), REGN (−0.08), JNJ (−0.07). Its correlation with long Treasuries (TLT) was 0.33 and with gold (GLD) 0.06.

### Does AXON usually beat earnings estimates?

AXON beat the consensus earnings-per-share estimate in 11 of its last 12 quarterly reports through Aug 5, 2026, and the revenue estimate in 11 of 12. The stock moved 15.1% on average, up or down, from the close before each report to the close after it.

### How much does AXON’s CEO make?

Patrick Smith, AXON’s Chief Executive Officer, received $40,001 in total pay for fiscal 2025, including a $31,201 salary and $0 in stock and option awards valued at grant, according to the proxy statement filed with the SEC on Apr 16, 2026. The median S&P 500 CEO received $17.2 million.

### Have members of Congress traded AXON?

Yes. As of Oct 20, 2026, 5 members of Congress had disclosed 10 trades in AXON (5 buys and 5 sales) in STOCK Act disclosures filed with the House and Senate.

### What is AXON’s short interest?

As of the Sep 30, 2026 settlement date, 5.10% of AXON’s float was sold short (3.9 million shares, 3.5 days to cover), according to FINRA short-interest reports. A year earlier it was 2.34%.

### Is AXON diluting shareholders?

Yes. AXON’s diluted share count rose 61.9% over the five fiscal years to fiscal 2025 and rose 27.3% in the latest year. Stock-based compensation was 22.8% of revenue.

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Educational content, not investment advice. Past performance does not guarantee future results.