2 highly rated ASX tech shares tipped for strong long term growth

These tech shares could have bright futures…
The post 2 highly rated ASX tech shares tipped for strong long term growth appeared first on The Motley Fool Australia. –

If you’re interested in gaining some exposure to the tech sector, then you might want to take a look at these highly rated options.

Both of the tech shares listed below have been tipped to grow strongly over the long term. Here’s what you need to know about them:

Dubber Corp Ltd (ASX: DUB)

The first tech share to look at is Dubber. It is a software company that provides businesses with a scalable call recording service. This service has been adopted as core network infrastructure by multiple global leading telecommunications carriers in North America, Europe and the Asia Pacific.

The company’s cloud-based technology allows businesses to record, manage, and analyse their phone calls and communications.

Demand for its offering has been growing strongly over the last couple of years, leading to a significant increase in active customers and revenue. This was on show in its recent third quarter update, which revealed a 20% increase in annualised recurring revenue (ARR) over the three months to $34 million. This was also a 158% increase over the prior corresponding period.

Since then, Dubber has signed a potentially game-changing deal with global giant Cisco. This will see Cisco Webex Calling and Cisco Unified Communications Manager Cloud (UCM) now include Dubber call recording as part of all services at no additional cost to users. This gives Dubber significant upselling opportunities.

Shaw and Partners currently has a buy rating and $3.03 price target on its shares. This may mean investors would be best waiting for a pullback before considering an investment.

Nearmap Ltd (ASX: NEA)

Another ASX tech share to look at is Nearmap. It is an aerial imagery technology and location data company.

Its technology shifts location analysis out of the field and into the office, providing businesses with the tools to scale quickly and bring their most important initiatives to life.

Thanks to increasing demand for its services in North America, Nearmap has been growing at a solid rate in FY 2021. So much so, it recently upgraded its Annual Contract Value (ACV) guidance to between $128 million and $132 million from between $120 million and $128 million. This will be a 20% to 24% increase from $106.4 million in FY 2020.

Looking ahead, management appears confident in its growth trajectory. It is targeting annualised contract value (ACV) growth of 20% to 40% per annum over the long term, with underlying churn of less than 10%.

Morgan Stanley remains bullish on the company despite its recent legal issues. It currently has an overweight rating and $3.20 price target on its shares.

The post 2 highly rated ASX tech shares tipped for strong long term growth 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 May 24th 2021

More reading

2 exciting ASX tech shares that have been named as buys

4 ASX shares to gain exposure to international market growth: fund manager

2 growing ASX shares that deserve your attention

2 top ASX shares for growth investors

Why Dubber, Megaport, Sezzle, & Worley shares are storming 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 shares of and has recommended Dubber Corporation and Nearmap Ltd. The Motley Fool Australia owns shares of and has recommended Dubber Corporation and Nearmap 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!