TASER International Inc.’s (TASR - Free Report) subsidiary, Axon has received an order for 720 Axon Body 2 cameras and 100 Axon Flex cameras from Northern Territory Police of Australia.
The order covers a three-year unlimited subscription of 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 second quarter of 2016 and expects to roll out shipments from the first quarter of 2017.
Axon Body 2 & Axon Flex
Introduced in Oct 2015, Axon Body 2 is part of the growing Axon platform that connects cloud, mobile and wearable technologies. The company aims to render law enforcement agencies a distinct transparency through the deployment of body cameras. Axon Body 2 takes the powerful simplicity of its predecessor to the next level with its single-unit design and more advanced capabilities like unlimited HD video recording and industry-leading security enhancements.
The Axon Flex body cameras, powered by Signal technology, maintain a detailed record of every police incident. Axon Signal ensures automatic activation of all cameras in range to ensure minimal risk of user error.
What’s Making Body Cameras So Popular?
Growing demand for AXON body cameras and EVIDENCE.com reflect law enforcement agencies’ shift in focus toward accountability and trust. Thus, with increasing tensions between law enforcement officials and the public, demand for TASER’s products and services have seen a dramatic rise.
Police departments of major cities like Chicago, Dallas, Los Angeles and New York are now deploying Axon Body cameras on their officers. The latest order is one of the several placed by other countries, indicating TASER’s expanding footprint beyond the U.S.
TASER enjoys a steady stream of orders from various police departments. In the last two weeks alone, the company has received a number of contracts for Axon Body 2 cameras and smart weapons.
Even yesterday, TASER received an order for 250 Axon Body 2 cameras and 393 TASER X26P Smart Weapons to El Paso County Sheriff's Office, including a five-year subscription of EVIDENCE.com under the Axon Officer Safety Plan. (Read more: TASER Gets EPSO's Order for Axon Cameras, Smart Weapons)
Moreover, last week, the company got an order for 850 TASER X2 Smart Weapons from the Florida Fish and Wildlife Conservation Commission. (Read more: TASER International Gets Order for X2 Smart Weapon) During the same week, it won another order for 1,015 Axon Flex and Body 2 cameras from the Atlanta Police Department. (Read more: TASER Secures Order for 1,015 Axon Flex & Body 2 Cameras)
TASER specializes in less lethal, conducted energy weapons primarily meant for law enforcement and corrections. the advanced TASER weapon offers better performance than other less lethal options used for this purpose. As a result, the company is now leading the body camera segment.
However, TASER has recently been facing a choppy market conditions due to stiff competition in the industry 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 Allegion Plc (ALLE - Free Report) .
Lakeland Industries’ shares witnessed a 3.9% gain in the last trading session. On an average, the company has delivered a positive earnings surprise of 19.06% in the trailing four quarters. Lakeland sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Alarm.Com carries a Zacks Rank #2 (Buy). The stock gained 3.2% during the last trading session. On an average, the company has delivered a positive earnings surprise of 450.56% in the last four quarters.
Allegion, a Zacks Rank #2 stock, saw its shares gain 1% during the last trading session. On an average, the company has delivered a positive earnings surprise of 11.58% in the four trailing quarters.
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