Axon Enterprise ( (AXON) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Axon Enterprise’s stock took a hit, dropping over 16% due to a downgrade by Northcoast Research analyst Keith Housum. The downgrade from “Buy” to “Neutral” was influenced by Axon’s split with Flock Safety, a former partner now a competitor in license plate recognition and crime center technology. Concerns about Axon’s valuation and skepticism about its future earnings also played a role. Flock Safety’s higher pricing plans for new customers may affect Axon’s growth, especially after its Fusus acquisition. These issues have led to a negative outlook for Axon’s stock.
More about Axon Enterprise
YTD Price Performance: -0.51%
Average Trading Volume: 848,805
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $54.14B
For further insights into AXON stock on TipRanks’ Stock Analysis page.
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