Don’t be stunned if TASER International, Inc. (NASDAQ:TASR), the company that produces the well-known stun guns of the same name, sees the current market goodwill towards it continue into the future, according to Fox Business News’ Charles Payne.
As Fox Business News’ Charles Payne explained on Friday, however, there is plenty to like about the TASER International, Inc. (NASDAQ:TASR) stock long before the civil unrest in St. Louis, with orders for their stun guns continuing to pour in, including 5,400 from Houston. However, it’s a rapidly expanding video equipment division that is also drawing a lot of positive attention from investors.
“There’s also a new camera product that’s linked to the website called evidence.com, and one study alone, they said that one police department used it, they said it brought citizen complaints down almost 88% and the use of violence down by 59%. In the most recently completed quarter, bookings for that camera and that website: $11 million, up more than the two previous quarters combined, and $2 million a year earlier. This thing is starting to catch fire,” Payne said.
Payne feels TASER International, Inc. (NASDAQ:TASR)’s stock has been perpetually weakened because of the perception of their products, and that a strong camera division could help them change that perception. Payne also added that TASER International, Inc. (NASDAQ:TASR)’s sales and margins were not only strong in the U.S, but in several other countries as well, including the U.K, Singapore, Australia, and Korea.
“Ultimately, I think it’s going to change hands north of $20 a share,” Payne concludes.
TASER International, Inc. (NASDAQ:TASR)’s stock has soared more than 20% since Thursday’s close, partially due to the continuing civil unrest in Missouri as a result of the shooting death of unarmed black teenager Michael Brown on August 9.