Here are a couple of highly rated tech shares…
The post 2 exciting ASX tech shares that are highly rated appeared first on The Motley Fool Australia. –
If you’re looking for some exposure to the tech sector, then you might want to look at the shares listed below.
Here’s why these ASX tech shares have been rated as buys:
PointsBet Holdings Ltd (ASX: PBH)
The first tech share to look at is PointsBet. It is a growing sports wagering operator and iGaming provider offering innovative sports and racing betting products and services in the ANZ and US markets via its scalable cloud-based platform.
It is the company’s US operations that are getting the market most excited. Thanks to changes in regulations in the lucrative market and the company’s partnerships, PointsBet appears well-placed to capture market share and grow its sales over the next decade.
One of those partnerships is with the country’s largest sports broadcaster NBCUniversal. This is a game-changer for PointsBet and gets its brand in front of NBC’s 184 million viewers.
Goldman Sachs is a big fan of the company. It currently has a buy rating and $17.20 price target on PointsBet’s shares. The broker notes that the US sports betting and iGaming market is forecast to be worth US$53 billion at maturity. Goldman believes this gives it a very long runway for growth, particularly given its position as the number four/five player in the key market.
WiseTech Global Ltd (ASX: WTC)
Another ASX tech share to look at is WiseTech Global. It is the logistics solutions company behind the popular CargoWise One platform. This platform allows users to execute complex logistics transactions and manage freight operations from a single, easy to use system.
WiseTech Global has been experiencing strong demand for its platform from many of the largest logistics companies in the world. Combined with a host of bolt-on acquisitions in recent years to strengthen its offering, this has underpinned very strong revenue and earnings growth.
Pleasingly, with its customers now the ones making acquisitions, WiseTech Global has been benefiting from increasing usage from existing customers as they expand. And with this trend expected to continue, it bodes well for the company’s growth in the coming years.
Morgan Stanley is positive on WiseTech Global. Its analysts currently have an overweight rating and $35.00 price target on its shares.
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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 shares of and has recommended Pointsbet Holdings Ltd and WiseTech Global. The Motley Fool Australia owns shares of and has recommended WiseTech Global. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.