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Buy TASER (TASR) on Any Sustained Weakness, Oppenheimer Says

February 27, 2015 9:51 AM EST
Get Alerts TASR Hot Sheet
Price: $21.90 --0%

Rating Summary:
    3 Buy, 4 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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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.



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Andrew Uerkwitz