Axon Enterprise (AXON) stock has dropped 35% from its 12-month high, reflecting investor rotation out of high-multiple growth names and broader macro concerns rather than fundamental business deterioration. Despite the recent pullback, a valuation model suggests a potential 22% annualized upside through 2027, with a target price of $624. Sustained high revenue growth, improved profitability, and a premium earnings multiple will be critical for Axon to realize this long-term upside, with upcoming earnings being a key determinant for future stock movement.
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Axon Enterprise Stock Is Down 35% From Its Highs. Here’s Why 22% Annualized Upside Through 2027 Is Still on the Table
Axon Enterprise (AXON) stock has dropped 35% from its 12-month high, reflecting investor rotation out of high-multiple growth names and broader macro concerns rather than fundamental business deterioration. Despite the recent pullback, a valuation model suggests a potential 22% annualized upside through 2027, with a target price of $624. Sustained high revenue growth, improved profitability, and a premium earnings multiple will be critical for Axon to realize this long-term upside, with upcoming earnings being a key determinant for future stock movement.