Piper Sandler lowered the firm’s price target on Axon (AXON) to $753 from $893 and keeps an Overweight rating on the shares. The firm notes shares were down about 20% after hours given the roughly in line print most aren’t used to seeing from this management team, slowdown in some of the lead metrics, and high-multiple to begin with. While the quarter itself wasn’t inspiring, Piper actually thinks there’s a lot to like underneath.
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