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Taser maker Axon plunges on Q3 miss, lowered 2026 rev outlook

By Reuters News

** Public safety tech firm Axon Enterprise's AXON.O shares plunge 16.2% to $320.58 and are biggest S&P 500 losers on Fri after qtrly report disappoints

** AXON hits lowest levels since Aug 2024; stock on track for steepest daily pct decline since Feb 2025

** Maker of Tasers late Thurs posted Q3 rev of $909 mln, up 28% yr/yr, but below LSEG estimate of $937.6 mln; adj EPS in qtr of $1.72 shy of avg analysts' expectation of $1.88

** Co also announced increased stake in autonomous security drone firm Skydio to 37% with $1.2 bln investment

** It now sees full-year 2026 rev of approx $3.61-$3,.63 bln, representing 30% annual growth, but down from prior guidance of 32%-34% growth, due to three Federal Dedrone deployments totaling approx $130 mln being pushed into 2027

** At least 5 brokerages slash their PTs reacting to report: UBS chops from $470 to $380, lowest on Wall Street, per LSEG; JP Morgan cuts PT from $755 to $610, TD Cowen reduces from $800 to $650

** Avg rating of 22 analysts is "buy"; median PT of $575 down from $700 a month ago

** With the decline, AXON down ~44% YTD, well underperforming 5% advance in S&P 500 Industrials .SPLRCI and SPX's ~8% rise

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