Insights

2 ASX 200 tech shares Citi rates as buys

Here are two buy-rated tech shares…
The post 2 ASX 200 tech shares Citi rates as buys appeared first on The Motley Fool Australia. –

If you’re not sure which ASX shares to buy, then the two listed below could be worth considering.

These ASX 200 tech shares have been tipped as buys by the analysts at Citi. Here’s what they are saying about them:

Appen Ltd (ASX: APX)

The first ASX 200 tech share that Citi rates highly is Appen. It is an artificial intelligence data services company preparing the data that goes into the artificial intelligence and machine learning models of some of the biggest tech companies in the world such as Google and Facebook. While a reduction in investment from tech giants in these activities at the height of the pandemic weighed on demand for Appen’s services, the tide does now appear to be turning. Particularly given a recent update from rival Telus, which Citi highlights as pointing to improving trends for artificial intelligence data projects.

Citi currently has a buy rating and $17.10 price target on Appen’s shares. This compares to the latest Appen share price of $11.80.

NEXTDC Ltd (ASX: NXT)

Another ASX 200 tech share that Citi is a fan of is NEXTDC. It is one of the Asia-Pacific region’s leading data centre operators. NEXTDC has been growing at a consistently strong rate for years thanks to the structural shift to the cloud. This has led to increasing demand for capacity in its growing network of world class data centres across Australia. More of the same is expected in FY 2022, with the company guiding to operating earnings growth of 19% to 22% year on year. Citi appears confident this solid form with continue beyond FY 2022 thanks to accelerating cloud adoption and digitisation.

The broker currently has a buy rating and $15.40 price target on the company’s shares. This compares to the latest NEXTDC share price of $12.47.

The post 2 ASX 200 tech shares Citi rates as buys appeared first on The Motley Fool Australia.

Should you invest $1,000 in Appen right now?

Before you consider Appen, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Appen wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

These were the best performing ASX 200 shares last week

NEXTDC (ASX:NXT) share price drops on AGM update

5 things to watch on the ASX 200 on Friday

2 explosive ASX tech shares analysts love

2 fantastic ASX growth shares to buy right now

Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Appen Ltd. The Motley Fool Australia owns shares of and has recommended Appen Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!