Buy TASER (TASR) on Any Sustained Weakness, Oppenheimer Says
Get Alerts TASR Hot Sheet
Rating Summary:
3 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Join SI Premium – FREE
Oppenheimer analyst Andrew Uerkwitz reiterated an Outperform rating and $28 price target on TASER International (NASDAQ: TASR) following solid Q4 results and the related sell-off. The analyst said they would be buyers on any sustained weakness.
Uerkwitz commented, "Taser reported a very good quarter: revenue beat ($46.8M vs. Street $42.4M), strong bookings (up 61% q/q), record camera/evidence.com sales, y/y growth in adj. EBITDA. On the flip side, with an inventory charge causing GAAP GM and EPS to miss (one time item we're not concerned with), weapons segment down q/q (just lumpiness) along with shifting investors' mindset to new metrics/strategy (ASP per evidence seat came in weaker than modeled), the good wasn't good enough as the stock sold off significantly. We see business more than on-track, like the investment in OpEx, and would be buyers on any sustained weakness."
The elevated OPEX levels slightly offset by higher growth in AXON than previously expected, the firm's 2015E/2016E EPS decreases to $0.44/$0.59 from $0.46 and $0.65.
For an analyst ratings summary and ratings history on TASER International click here. For more ratings news on TASER International click here.
Shares of TASER International closed at $22.69 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Upgrades Citizen Watch (7762:JP) to Buy
- 4D Molecular Therapeutics (FDMT) PT Lowered to $63 at BMO Capital, 'uncertainty remains a lingering overhang until the PhIII readout'
- Cantor Fitzgerald Downgrades Caledonia Mining Corporation (CMCL) to Hold
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Andrew UerkwitzSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!