TASER International Inc. announced that it has changed its name to Axon Enterprise Inc. effective today. According to the company, such a decision reflects its transition from a less-lethal weapons manufacturing to a full solutions provider of cloud and mobile software, connected devices, wearable cameras, and artificial intelligence.

In a bid to lend support to the police department, Axon will provide each and every police officer in the U.S. with free Axon body 2 cameras and related hardware, software, data storage, and training for a year.

Details of the Offer

The free offer includes − a Axon Body 2 camera to every officer, digital evidence data storage with an Evidence.com "Unlimited Pro" license, two mounts to each officer, docking station to securely upload body camera footage and access to the full Axon Academy online training library.

But the free service will expire within a year. In the mean time, if a police department damages the cameras, it will have to pay the full price.

After the free offer period, the police departments will have to decide whether they would opt for paid subscription for the body cameras and other services, based on the usefulness of the technology.

How Will the Offer Benefit Axon?

Axon believes that by offering the body-cameras and other services free of charge, police departments will eventually sign up for the company’s future software offerings.

Moreover, the company is of the view that with this free trial , it will give an opportunity to the departments to test and identify the benefits of body camera technology before purchasing it. This will reduce the risk of purchasing technology without field testing by the officers that might otherwise lead to dismal results.

According to Rick Smith, founder and CEO of Axon, departments that have never used the technology do not have any idea about its requirement.  But as soon as they experience this technology’s utility, the police departments will want to retain it.

A Brief Note on 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 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.

Importance of Body Cameras

Body-cameras have been in the news lately on account of high profile police shootings. In fact, the growing demand for AXON body cameras reflect law enforcement agencies’ shift in focus toward accountability and trust. Thus, with increasing tensions between law enforcement officials and the public, demand for Axon’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.

Moving ahead, the company aims to render law enforcement agencies a distinct transparency through the deployment of body cameras. Also, it intends to produce actionable feedback to enhance performance of the officers.

Our View

Axon specializes in less lethal, conducted energy weapons primarily meant for law enforcement and corrections. The advanced Axon 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.

We believe, the launch of this new program is a big opportunity for the company. Axon is offering the technology on a trial basis with an expectation that the departments will return to them and opt for the paid subscription. Once the departments subscribe for the body camera technology, the company is expected to grow and become a good investment option for investors.

Zacks Rank & Key Picks

Axon currently has a Zacks Rank #3 (Hold). A few better-ranked stocks in the same space are Net 1 UEPS Technologies, Inc. , Alarm.Com Holdings, Inc. (ALRM Quick QuoteALRM - Free Report) and Brady Corporation (BRC Quick QuoteBRC - Free Report) .

Net 1 UEPS Technologies posted an average positive earnings surprise of 14.10% in the trailing four quarters. The company sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Alarm.Com Holdings posted an average positive earnings surprise of 40.56% in the trailing four quarters. The company carries a Zacks Rank #2 (Buy).

Brady Corporation posted an average positive earnings surprise of 20.84% in the trailing four quarters. The company carries a Zacks Rank #2 (Buy).

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