Life360 Inc (ASX:360) and this ASX mid cap share have been given buy ratings. Here’s what you need to know about them…
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If small caps are a little too risky for your liking, then maybe mid cap ASX shares would be more suitable. These are often well-established companies that still have significant runways for growth ahead of them.
With that in mind, I have picked out two mid cap ASX shares that are rated highly. Here’s what you need to know about them:
Life360 Inc (ASX: 360)
Life360 is a San Francisco-based technology company. The company’s core offering, the Life360 mobile app, is a market leading app for families. Its features range from communications to driving safety and location sharing. At the end of March, it had more than 28 million monthly active users globally.
Despite facing tough trading conditions during COVID-19 (lockdowns, lower mobility), Life360 still delivered a 39% increase in normalised revenue to US$81.6 million during the 12 months ending 31 December. This strong form has continued during the first quarter of FY 2021.
Positively, with COVID-19 headwinds starting to ease, management is confident that this trend will continue. It is targeting Annualised Monthly Revenue in the range of US$110 million to US$120 million, which will be a 23% to 34% increase year on year.
Bell Potter is a fan of the company. The broker currently has a buy rating and $6.00 price target on its shares.
Bravura Solutions Ltd (ASX: BVS)
Another mid cap ASX share to look at is Bravura. It is a leading provider of software solutions for the wealth management and funds administration industries.
Bravura has a portfolio of solutions that are both high quality and have significant market opportunities. This is particularly the case for the Sonata wealth management platform, which is used by a number of large financial institutions.
After a couple of years of significant headwinds from Brexit and COVID-19, Bravura looks to be back on the right path again.
It recently reaffirmed its guidance for FY 2021 net profit after tax of $32 million to $35 million and second half revenue growth of 10% half on half.
Goldman Sachs is a fan of the company. Last week it retained its buy rating and lifted its price target on the company’s shares to $3.90. The broker believes it has a massive growth opportunity in the UK and ANZ markets.
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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 Bravura Solutions Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Life360, Inc. The Motley Fool Australia has recommended Bravura Solutions Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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