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Bull of the Day: Axon (AAXN)

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When publicly-traded companies change their names, it throws everybody off. I understand why they do it. There’s no easier way to reinvent yourself than a name change. Prince, Ron Artest, and ODB all did it. Why shouldn’t companies? Today’s Bull of the Day is one of those companies. The company formerly known as Taser, Axon Enterprise (AAXN - Free Report) .

Axon Enterprise, Inc. develops, manufactures, and sells conducted electrical weapons (CEWs) worldwide. The company operates through two segments, TASER Weapons, and Software and Sensors.. The company also provides Axon Body 2 and Axon Flex 2 that builds upon the Axon Flex camera system; Axon Fleet, an in-car video system; Axon Dock, a camera charging station; TASER Cam HD, a recording device; Axon Signal, a technology; and Signal Sidearm, a device compatible with firearm holsters. In addition, it offers, a cloud-based digital evidence management system that allows agencies to store data and enables new workflows for managing and sharing that data.

No wonder the company decided to rebrand itself. It’s expanded its scope well beyond those electrification devices they use on unruly citizens. Bet you didn’t realize they were a cloud company now. We’ve got them as a Zacks Rank #1 (Strong Buy) and it’s mostly due to analyst action surrounding the current year and next year EPS numbers. Over the last 30 days, analysts have increased their EPS estimates for the current year and next year. The bullish sentiment has pushed up our Zacks Consensus Estimate from 18 cents to 39 cents for the current year while moving next year’s number from 50 cents to 68 cents.

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