Insights

2 buy-rated ASX tech shares with 100% upside in 2022

These tech shares could be bargain buys…
The post 2 buy-rated ASX tech shares with 100% upside in 2022 appeared first on The Motley Fool Australia. –

Due to recent weakness in the tech sector, a number of quality shares have pulled back materially from their highs. This has potentially created a buying opportunity for investors.

Two such shares are listed below. Here’s what you need to know about these buy-rated tech shares:

Nitro Software Ltd (ASX: NTO)

The first ASX tech share for investors look at is Nitro Software. It is the document productivity company behind the Nitro Productivity Suite. This suite provides integrated PDF productivity and eSignature tools to businesses great and small globally. This includes over two-thirds of the Fortune 500.

Bell Potter is bullish on Nitro Software. Particularly given the recent acquisition Connective NV for US$81 million, which the broker described as game-changing.

It commented: “The rationale for the acquisition is it will accelerate and enhance Nitro’s eSign, eID (electronic identity) and document workflow capabilities. It will also position Nitro to become the third global player in the enterprise eSign market along with DocuSign and Adobe.”

Bell Potter has a buy rating and $4.50 price target on the company’s shares. This suggest that the Nitro Software share price could double from the current level of $2.17.

PointsBet Holdings Ltd (ASX: PBH)

Another ASX tech share that is rated highly is PointsBet. It is a growing sports betting operator and iGaming provider that offers innovative sports and racing betting products and services via a scalable cloud-based platform.

PointsBet currently operates in the ANZ and North American markets. The latter is being supported by its deal with US sports broadcaster NBCUniversal. This deal is putting the PointsBet brand in front of millions of sports fans across the United States, which is driving strong customer and revenue growth in the country.

And while its marketing spend has been greater than many were expecting due to fierce competition, Goldman Sachs believes it will bear fruit in the future.

It commented: “Overall we remain positive on PBH, with our thesis underpinned by i) PBH’s leverage to the burgeoning US Sports Betting and iGaming market, which we forecast to be a >US$50 bn TAM opportunity at maturity, ii) our view that PBH remains well-placed to capitalise given its in-house tech stack, iii) upside risk to long-run sustainable margins in Aus and the US, and iv) scalability benefits ahead from NBCUniversal leads and broader coverage from state roll outs.”

Goldman currently has a buy rating and $12.79 price target on the company’s shares. This implies 100% upside from the current PointsBet share price of $6.38.

The post 2 buy-rated ASX tech shares with 100% upside in 2022 appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

More reading

Here’s why the PointsBet (ASX:PBH) share price stormed 5% higher today

2 beaten down ASX tech shares tipped as buys

PointsBet (ASX:PBH) share price falls on mixed broker note

2 exciting small cap shares named as buys

Why BrainChip, PointsBet, PolyNovo, and Syrah shares are pushing higher

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Nitro Software Limited and Pointsbet Holdings 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.

  • This field is for validation purposes and should be left unchanged.

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 - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US & HK* Trades. Click Here!