Insights

2 fast-growing ASX tech shares to buy

Afterpay Ltd (ASX:APT) and this ASX tech share have been named as ones to buy right now. Here’s what you need to know…
The post 2 fast-growing ASX tech shares to buy appeared first on Motley Fool Australia. –

asx blue chip shares

There are a lot of growth shares for investors to choose from on the Australian share market.

Two in the tech sector that come highly rated are listed below. Here’s why they have been named as ones to buy:

Afterpay Ltd (ASX: APT)

Afterpay is a leading payments company with a focus on the buy now pay later (BNPL) market. It is also planning to launch savings accounts and cash flow tools through a partnership with Westpac Banking Corp (ASX: WBC) in the near future. It has been growing at an extraordinary rate over the last few  years thanks to the increasing popularity of the BNPL payment method with both consumers and retailers. So much so, during the first quarter of FY 2021, Afterpay recorded underlying sales growth of 115% to $4.1 billion.

One broker that was pleased with this performance was Morgan Stanley. In response to its quarterly update, the broker retained its overweight rating and $115.00 price target. The Afterpay share price is currently fetching $101.85, which means potential upside of approximately 13% based on this price target.

Pushpay Holdings Ltd (ASX: PPH)

Pushpay is a fast-growing donor management and community engagement provider to the church market. Thanks to the quality of its platform, its leadership position, and the shift to a cashless society, it has been growing at a very strong rate. In fact, earlier this month the company released its half year results and revealed a 48% increase in total processing volume to US$3.2 billion and a 53% increase in operating revenue to US$85.6 million. And thanks to the further widening of its margins, EBITDAF grew 177% to US$26.7 million.

This caught the eye of analysts at Goldman Sachs, who have put a conviction buy rating and $10.35 price target on the company’s shares. Based on the current Pushpay share price of $7.07, this price target implies potential upside of over 46%.

Where to 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 are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of PUSHPAY FPO NZX. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended PUSHPAY FPO NZX. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post 2 fast-growing ASX tech shares to buy appeared first on Motley Fool Australia.

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!