The brokerage firm reduced its stock target for Axon Enterprise to $320 from $350 amid valuation adjustments.
Citizens cut its price target for Axon Enterprise (AXON) to $320 from $350, citing valuation concerns. The adjustment reflects a reassessment of the company’s growth prospects relative to its current market position.
Prior to the revision, Axon’s stock had traded near $340, aligning with broader market expectations. The new target suggests a potential downside of approximately 6% from recent levels.
The move follows a period of volatility for defense and technology stocks, with investors recalibrating expectations amid shifting macroeconomic conditions.