As previously reported, Craig-Hallum downgraded Axon (AXON) to Hold from Buy with a $625 price target The firm remains enthusiastic about the long-term prospects for the company and expects very strong Q4 results and FY25 when the company reports on February 25th. However, Craig-Hallum sees a more balanced risk/reward following a powerful rally in shares over the past year with the stock trading at all-time high multiples. The firm cites Q1 as a seasonally slower period for the business with the stock typically underperforming. In addition, Craig-Hallum sees hiring freezes and some Federal spending reductions as near-term risk factors that could impact the stock multiple.
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