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Axon Enterprise Wins Multiple Orders For X2 Smart Weapons

By Zacks Investment ResearchStock MarketsJul 06, 2017 08:23AM ET
Axon Enterprise Wins Multiple Orders For X2 Smart Weapons
By Zacks Investment Research   |  Jul 06, 2017 08:23AM ET
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Axon Enterprise Inc. (NASDAQ:AAXN) has received a number of orders for its TASER X26P and TASER X2 Smart Weapons.

The order comprise multiple orders for its X2s including − 2500 from California Highway Patrol; 1,000 from Alameda County Sheriff's Office; 827 from Mesa Police Department; and a handful of other orders from different Police Departments and County Sheriff’s offices of the U.S.

Additionally, this order covers purchase of Axon’s X26Ps that include − 450 from Philadelphia Police Department; 350 with 192 TASER CAM HD recorders from New York City Department of Homeless Services Police Department; 260 from New Haven Police; 250 from Suffolk County Police Department and a few more from varied Police Departments, County Sheriff’s offices as well as Federal agency.

Apart from this, Axon secured international orders for 100 X26Ps; 100 X26Ps and 25 X2s; 130 X26Ps; 187 X2s and 28 X26Ps; 100 X2s and 50 X26Ps; 100 X2s and 50 X26Ps; 400 X26Ps; 540 X2s; 800 X26Ps, respectively, from different agencies.

It is to be noted that the company obtained these orders in the second quarter of 2017. Currently, it expects to deliver all these weapons in the second and third quarters of 2017.

According to Rick Smith, CEO and co-founder of Axon, these domestic as well as international orders were received from agencies that had adopted TASER weapons quite some time ago and have reported significantly lower incidents of physical injuries to suspects and officers.

A Brief Note on TASER Smart Weapons

The advanced TASER Smart Weapon offers improved performance over other options used by law enforcement agencies. It can temporarily incapacitate virtually any individual regardless of pain tolerance, drug use or body size as they are considered to be the factors to hamper the efficiency of other less lethal options, frequently.

TASER X2 is a smart weapon developed specifically for law enforcement agencies. Packing an upgrade over the older version of TASER weapon, the X2 boasts features like backup shot, dual lasers and a warning arc to ensure accuracy and effectiveness.

The X2 is a dependable and advanced gadget for law enforcement that provides state police agencies with the best technology and training to lower the chances of a deadly encounter.

Need for Smart Weapons

Axon’s electrical weapons have become one of the most trusted tools to be used by law enforcement agencies. Also, a wide variety of suggestions has enabled the company to come up with a product that meets all kinds of customer requirements and can help officers stay safe in the field.

Notably, the new smart weapon is built on an all-digital platform. It can regulate charge output, perform health checks, update firmware over the Internet, and offers analytics on how and when someone uses a device.

Why Axon?

Axon develops, assembles and markets less lethal, conducted energy weapons primarily to be used in the law enforcement and corrections markets. Evidently, the company got an order for 930 TASER X26P Smart Weapons from New South Wales Police in Jan 2017. Furthermore, it secured orders for 800 X26s for Queensland Police Service and 855 TASER X2s for New Zealand Police.

We remind the investors that the company had also announced an order for 1,525 TASER X2 Smart Weapons from San Bernardino County Sheriff's Department and 400 TASER X26P Smart Weapons from Huntsville (AL) Police Department, in Dec 2016.

Price Movement

Axon has outperformed the Zacks categorized Protection-Safety Equipment and Service industry. The company’s current rate of return is 8.6% compared to the industry’s average of 6% in the last three months.

Axon’s high-quality smart weapons enjoy robust demand as law enforcement agencies across the U.S. are increasingly opting for such devices to strengthen their existing infrastructure. This along with the company having gained a handful of international customers, backed by the quality and ease of use of its products, are driving its outperformance. As a result, Axon poses strong competition to the likes of Lakeland Industries Inc. (NASDAQ:LAKE) , G4S (CO:G4S) plc (OTC:GFSZY) and Allegion Plc (NYSE:ALLE) that have also outperformed the industry.

Zacks Rank

Axon currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Zacks Investment Research
Axon Enterprise Wins Multiple Orders For X2 Smart Weapons

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Axon Enterprise Wins Multiple Orders For X2 Smart Weapons

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