5 Best NASDAQ Stocks with High Upside Potential

In this article, we will list the 5 Best NASDAQ Stocks with High Upside Potential. Please visit 12 Best NASDAQ Stocks with High Upside Potential to see the extended list and the methodology behind it.

5. Axon Enterprise Inc. (NASDAQ:AXON)

Average Upside Potential: 59.57%

Axon Enterprise Inc. (NASDAQ:AXON) is one of the best NASDAQ stocks with high upside potential. On May 6, Axon reported strong Q1 2026 financial results, with total revenue reaching $807 million, a 34% increase year-over-year. Growth was driven by a 35% rise in Software & Services revenue and a 33% increase in Connected Devices due to demand for TASER 10, Axon Body 4, and counter-drone systems. Reflecting this momentum, the company has raised its full-year revenue growth outlook to 30%–32%.

The company continues to expand its AI ecosystem, with AI product revenue witnessing over 700% growth compared to last year. Innovations include Axon Vision and Axon Guardian for real-time threat detection, Axon Assistant (which has surpassed one million uses), and Form One, a universal tool for automating paperwork. These tools are designed to integrate seamlessly into a CJIS-compliant environment to improve officer safety and operational efficiency.

Additionally, Axon Enterprise Inc. (NASDAQ:AXON) is seeing rapid adoption of its counter-drone technologies, bolstered by the federal Safer Skies Act. With its recent focus on judicial workflow tools like Brief One and AI Case Compass, the company is transitioning from simple evidence capture to providing an integrated intelligence and review platform, positioning itself as a central operating system for public safety.

Axon Enterprise Inc. (NASDAQ:AXON) provides public safety technology solutions. It offers conducted energy devices, such as TASER devices, body cameras, and cloud-based digital evidence management software to law enforcement agencies and enterprises.