TASER International Inc.’s (TASR - Free Report) subsidiary, Axon has won an order for 1,015 Axon Flex and Body 2 cameras from the Atlanta Police Department (“APD’).
The order includes a five-year unlimited subscription for EVIDENCE.com – TASER’s cloud-based digital evidence management platform – for storage, handling and sharing of data from the body cameras and other digital evidence sources.
The company received the order in the third quarter and shipments will be rolled out in eight-month phases beginning 2017.
Axon Flex Body Cameras
Axon Flex body cameras, powered by Axon Signal technology, keep a detailed record of every police incident in a bid to maintain transparency between law enforcement agencies and the public. Axon Signal ensures automatic activation of all cameras in range to ensure minimal risk of user error.
Axon Body 2 Cameras
Introduced in Oct 2015, Axon Body 2 is part of the growing Axon platform that connects cloud, mobile and wearable technologies. The deployment of body cameras is aimed to render police agencies a distinct transparency. The new Axon Body 2 takes the powerful simplicity of its predecessor to the next level with its single-unit design, which is equipped with more advanced capabilities like unlimited HD video recording and industry leading security enhancements.
What’s Driving Demand for Body Cameras?
Growing demand for AXON body cameras and EVIDENCE.com reflect law enforcement agencies’ shift in focus toward accountability and trust. Demand for TASER’s products and services have seen an impressive rise, particularly in the U.S., following increasing tensions between law enforcement officials and the public.
Police departments of many major cities like Chicago, Dallas, Los Angeles and New York are thus deploying Axon Body cameras on their officers.
Last week, Axon won an order for 1,050 Axon Body 2 cameras from Cincinnati Police Department. The department said that it is planning to deploy 700 cameras by 2016 end. (Read more: TASER Secures Order for 1,050 Axon Body 2 Cameras)
TASER develops, assembles and markets less-lethal, conducted energy weapons primarily for use in the law enforcement and corrections markets. Its advanced TASER weapon offers improved performance over other less-lethal force options used by law enforcement agencies. The company is now leading the police body camera segment.
According to Rick Smith, CEO and co-founder of TASER, with the current order, the company’s Axon solution has been opted by over 50% of the major cities in the U.S. This demonstrates that over 30 largest agencies of the country have seen the potential of this solution.
However, the company has been going through a volatile phase due to stiff competition in the space and cyclical sales of its products.
Zacks Rank & Key Picks
TASER currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space include Lakeland Industries Inc. (LAKE - Free Report) , Alarm.Com Holdings, Inc. (ALRM - Free Report) and Ascent Capital Group, Inc. (ASCMA - Free Report) . While Lakeland Industries sports a Zacks Rank #1 (Strong Buy), both Alarm.Com and Ascent Capital carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>