Axon Enterprise (NASDAQ: AXON) stock is getting hit with a sharp valuation pullback in Wednesday's trading. The company's share price was down 12.1% as of 11:15 a.m. ET, and had been off as much as 20.7% near the market open.

Axon published its third-quarter results yesterday afternoon, reporting sales that topped Wall Street's forecast but earnings that fell short of the average analyst target. Investors were also looking for stronger forward guidance.

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Source Fool.com