Axon price target lowered to $625 from $720 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Axon (AXON) to $625 from $720 and keeps a Buy rating on the shares after attending the Axon Week event. The company should be positioned to be an AI winner in the long run through the integration of its hardware offerings into its AI portfolio, which should use unique data collected through camera footage along with existing data stored on Axon Evidence to improve performance of end users across law enforcement and enterprise end markets, the analyst tells investors in a research note. The firm adds however that its reduced price target reflects an industry-wide multiple compression across software companies.