Axon Set to Deliver Its Body 4 Cameras & Axon Evidence to RCMP

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Axon Enterprise, Inc. AXON recently secured a federal government deal to deliver its premier Axon Body 4 body-worn cameras and digital evidence management system — Axon Evidence, to Royal Canadian Mounted Police (RCMP). Once deployed, the company’s Body 4 cameras and Axon Evidence will serve more than 10,000 RCMP officers across rural, urban and remote areas of Canada.

Axon introduced its next-generation body-worn camera, Axon Body 4, in April 2023. With upgraded features such as a bi-directional communications facility and a point-of-view camera module option, this body camera offers enhanced video quality and communication capabilities to law enforcement agencies. 

The Axon Ecosystem helps streamline security operations through a connected network of hardware, software and sensor solutions. Axon Body 4 cameras can be seamlessly integrated with Axon Evidence, which allows safety officers to upload video to a secure cloud environment. Equipped with AI-powered tools and innovative technologies, Axon Evidence enables officers to trace, transcribe and redact crucial footage seamlessly, saving their time in reviewing evidence.

AXON’s Zacks Rank & Price Performance

Axon, with a $46.1 billion market capitalization, currently carries a Zacks Rank #2 (Buy). The company is witnessing strength in its TASER segment, driven by solid demand for its TASER 10 devices and higher cartridge revenues. The addition of new users and associated devices to the Axon network and strong response to Axon body cameras and accessories bode well for the Software and Sensors segment’s growth. 

Driven by strength in its businesses, Axon provided bullish guidance for 2024. The company currently expects revenues of $2.07 billion compared with $2.00-$2.05 billion guided earlier. The metric indicates approximately 32% year-over-year growth.

Adjusted EBITDA is expected to be about $510 million, implying an adjusted EBITDA margin of 24.6%. This represents growth from its previous guided range of $460-$475 million.

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In the past three months, the stock has gained 61.8% compared with the industry’s 23.2% growth.

Other Stocks to Consider

Here are other top-ranked stocks from the same space.

Kadant Inc. KAI presently carries a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

It has a trailing four-quarter average earnings surprise of 17.2%. The Zacks Consensus Estimate for KAI’s 2024 earnings has improved 1.8% in the past 60 days.

Atmus Filtration Technologies Inc. ATMU presently has a Zacks Rank of 2 and a trailing four-quarter earnings surprise of 13.8%, on average. The consensus estimate for ATMU’s 2024 earnings has increased 1.3% in the past 60 days.

Generac Holdings GNRC presently carries a Zacks Rank of 2. GNRC delivered a trailing four-quarter earnings surprise of 10.8%, on average. The Zacks Consensus Estimate for Generac Holdings’ 2024 earnings has increased 5.1% in the past 60 days.

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