AAXN - Axon dips after JMP Securities cuts to Market Perform

Despite many of Axon's (AAXN) strengths, JMP Securities analyst Joseph Osha cut his recommendation on the stock to Market Perform from Market Outperform, triggering a 1.6% pullback in premarket trade.Shares are fairly valued, adds Osha, saying that his modeled enterprise value to expected 2021 revenue multiple of 11x are already close to the current level.The company is still "well positioned" as it enters the coming year. Axon is the leading name in the law enforcement and tech intersection, dominating the "electroshock weapons business with Taser" and its rapidly growing body cam business.

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Axon dips after JMP Securities cuts to Market Perform