Axon Jumped 7% Today. Here’s What Could Fuel More Upside in 2026

Axon Enterprise's stock rose 7% as investors anticipated its Q2 earnings report, driven by strong growth in software, AI, and drone products, which are expanding beyond its traditional TASER and body camera businesses. Despite a premium valuation, analysts see potential for further upside, especially with new offerings like Draft One and Dedrone. The company's valuation model suggests a target price of around $700 by 2028, contingent on sustained high revenue growth and increased operating leverage from its growing software segment.