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TASER (TASR) Hits New 52-Week High on Strong Q2 Results
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Shares of TASER International Inc. hit a new 52-week high of $30.15 on Aug 5. The stock eventually closed a little lower at $29.26, having gained roughly 69.23% so far this year and outperforming the 6.8% gain of the S&P 500 over the same period.
TASER has a market cap of $1.54 billion. Over the past 52 weeks, the company’s shares have ranged from a low of $13.56 to a high of $30.15. Average volume of shares traded over the last three months is approximately 1.0 million.
What’s Driving the Stock?
Last week, TASER posted better-than-expected second quarter 2016 results, wherein both earnings and revenues beat the Zacks Consensus Estimate by a respective 133.3% and 9.5%. Revenues also increased 26% year over year. The upside was attributable to higher sales from the TASER Weapon and Axon segments. Revenues from TASER Weapons jumped 20% year over year.
AXON and EVIDENCE.com revenues surged 49% to $13.2 million. Segment bookings increased 38.4% to $72 million as of Jun 30, 2016 from $52.1 million in the preceding quarter. Bookings also surged 135.2% year over year in the quarter.
TASER enjoys a stable financial position. The company had cash and cash equivalents of $37.3 million as of Jun 30, 2016. Net cash from operating activities was $3.2 million in the quarter as against cash used in operating activities of $2 million a year ago. Free cash flow was $2.5 million versus free cash outflow of $13.2 million a year ago.
The company also witnesses a steady flow of contracts from various police departments that adds to its top line. In an attempt to improve transparency and restore public trust, police departments are now deploying officers with body cameras so as to ensure judicious use of firearms as well as fewer appeals against alleged police brutalities. TASER International’s AXON body-worn video cameras are, thus, in demand, with the company winning orders from both domestic and international police departments. These hot-selling body cameras also come with a cloud storage service – EVIDENCE.com.
Demand for TASER’s products and services saw a steep rise, particularly in the U.S. due to increasing tensions between law enforcement officials and the public. The company’s entry into the wearable camera space was thus a big positive that contributed to its results.
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TASER (TASR) Hits New 52-Week High on Strong Q2 Results
Shares of TASER International Inc. hit a new 52-week high of $30.15 on Aug 5. The stock eventually closed a little lower at $29.26, having gained roughly 69.23% so far this year and outperforming the 6.8% gain of the S&P 500 over the same period.
TASER has a market cap of $1.54 billion. Over the past 52 weeks, the company’s shares have ranged from a low of $13.56 to a high of $30.15. Average volume of shares traded over the last three months is approximately 1.0 million.
What’s Driving the Stock?
Last week, TASER posted better-than-expected second quarter 2016 results, wherein both earnings and revenues beat the Zacks Consensus Estimate by a respective 133.3% and 9.5%. Revenues also increased 26% year over year. The upside was attributable to higher sales from the TASER Weapon and Axon segments. Revenues from TASER Weapons jumped 20% year over year.
AXON and EVIDENCE.com revenues surged 49% to $13.2 million. Segment bookings increased 38.4% to $72 million as of Jun 30, 2016 from $52.1 million in the preceding quarter. Bookings also surged 135.2% year over year in the quarter.
TASER enjoys a stable financial position. The company had cash and cash equivalents of $37.3 million as of Jun 30, 2016. Net cash from operating activities was $3.2 million in the quarter as against cash used in operating activities of $2 million a year ago. Free cash flow was $2.5 million versus free cash outflow of $13.2 million a year ago.
The company also witnesses a steady flow of contracts from various police departments that adds to its top line. In an attempt to improve transparency and restore public trust, police departments are now deploying officers with body cameras so as to ensure judicious use of firearms as well as fewer appeals against alleged police brutalities. TASER International’s AXON body-worn video cameras are, thus, in demand, with the company winning orders from both domestic and international police departments. These hot-selling body cameras also come with a cloud storage service – EVIDENCE.com.
Demand for TASER’s products and services saw a steep rise, particularly in the U.S. due to increasing tensions between law enforcement officials and the public. The company’s entry into the wearable camera space was thus a big positive that contributed to its results.
TASER INTL INC Price and Consensus
TASER INTL INC Price and Consensus | TASER INTL INC Quote
TASER shares the space with the likes of Digital Ally Inc. (DGLY - Free Report) , Brady Corp. (BRC - Free Report) and Allegion Plc (ALLE - Free Report) .
It currently has a Zacks Rank #3 (Hold).
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