Axon price target lowered to $700 from $825 at Citizens

Citizens lowered the firm’s price target on Axon (AXON) to $700 from $825 and keeps an Outperform rating on the shares. The company reported solid Q1 results and raised its FY26 revenue guidance as the acquisitions of Fusus and Dendrone hitting their stride, the analyst tells investors in a research note. While Axon had a strong performance in the quarter, the lackluster reaction was likely due to the flat adjusted EBITDA margin outlook, along with the tempered free cash flow expectations, the firm says.