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Axon downgraded to Outperform from Strong Buy at Raymond James
The Fly

Axon downgraded to Outperform from Strong Buy at Raymond James

Raymond James downgraded Axon to Outperform from Strong Buy with a $223 price target. Shares are up 130% from their lows in May 2022, and while execution has been nearly flawless during this period, the inevitability of mean reversion vs. other software stocks, decelerating growth off of a larger base and less room for multiple expansion leave the firm searching for a near-term positive catalyst, the analyst tells investors in a research note. TASER 10 could create some near-term topline and margin choppiness before it earns a spot as a flagship product, the firm adds.

Published first on TheFly

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