Why Axon Enterprise Stock Is Plummeting Today

Axon Enterprise (NASDAQ: AXON) stock is moving lower in Thursday's trading. The company's share price was down 10.9% as of 12:30 p.m. ET. Meanwhile, the S&P 500 (SNPINDEX: ^GSPC) was down 0.7%, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) was down 0.8%.The broader market is moving in a bearish direction today after Walmart issued guidance for weak growth, but there's also a company-specific catalyst behind Axon's valuation decline today. Craig-Hallum lowered its rating on Axon from buy to hold. The firm also issued a one-year price target of $625 per share. The price target still suggests potential upside of roughly 18%, but the firm's analysts don't see enough upside potential to justify the risk and recommend buying shares right now.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool