2 exciting ASX 200 tech shares to buy

Here are two highly rated tech shares…
The post 2 exciting ASX 200 tech shares to buy appeared first on The Motley Fool Australia. –

While the Australian tech sector may pale in comparison to the US tech sector, that doesn’t mean there aren’t any high quality options for investors to choose from.

Two highly rated ASX 200 tech shares are listed below. Here’s why they could be in the buy zone:

Life360 Inc (ASX: 360)

The first ASX 200 tech share to look at is Life360. It is the growing technology company behind the eponymous Life360 mobile app. This increasingly popular app offers families useful features such as communications, driver safety, and location sharing.

During the third quarter of FY 2022, Life360 continued its stellar growth. It revealed the addition of a further 1.5 million monthly active users (MAU) to 33.8 million, which underpinned a 48% year on year increase in Annualised Monthly Revenue (AMR) (excluding acquisitions) to US$120.1 million.

Speaking of which, the company has recently acquired wearables company Jiobit and items tracking company Tile. Both these companies have large addressable markets and provide Life360 with significant cross and upselling opportunities.

Bell Potter is a big fan and has a buy rating and $16.25 price target on its shares.

Megaport Ltd (ASX: MP1)

Another ASX 200 tech share to look at is Megaport. It is the global leading provider of elastic interconnection services. Using Software Defined Networking (SDN), Megaport’s global platform enables customers to rapidly connect their network to other services across the Megaport Network.

They can then be directly controlled by users via mobile devices, their computer, or Megaport’s open API. At the last count, Megaport was connecting more than 2,300 customers in over 760 enabled data centres globally. And with more and more infrastructure shifting to the cloud, Megaport looks well-placed to grow its customer numbers strongly over the 2020s.

The team at Macquarie is bullish on the company’s prospects. So much so, the broker recently put an outperform rating and $24.00 price target on its shares. Macquarie believes the company is well-placed to grow ahead of consensus expectations.

The post 2 exciting ASX 200 tech shares to buy 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 more than eight 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 August 16th 2021

More reading

2 ASX shares to buy and hold for 10 years+

Could 2022 be the year ASX 200 tech shares get some love?

3 excellent ASX growth shares analysts are excited about

This top fund manager just called these leading ASX shares a buy

Top broker names the best ASX tech shares to buy in 2022

Motley Fool contributor James Mickleboro owns Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Life360, Inc. and MEGAPORT FPO. The Motley Fool Australia has recommended MEGAPORT FPO. 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!