Taser Analyst Sees Stock Moving Significantly Higher

A TASER International, Inc. (NASDAQ: TASR) analyst at Craig-Hallum Capital Group said in a note Thursday that the company is positioned for "above-average" growth on the top and bottom line. The analyst also pointed to data from the San Diego Police Department, which is deploying a body camera test, that shows that there was a 41 percent reduction in complaints, a 60 percent reduction in allegations and a 47 percent reduction in the use of force.

As police departments throughout the country come under increased scrutiny, the analyst said that the San Diego results will be used by other large departments as reasons to enter their own pilot programs.

Critically, as these tools take hold, the analyst said that other analysts will shift their view of Taser from a hardware company to a SaaS company. The company, therefore, should be valued on the fastest-growing segment of the business – software revenue.

At the moment, the analyst has a $30 price target on Taser.

Shares traded recently at $24.32, up 1.5 percent.