2 quality tech options for ASX investors in June

Here are two ASX tech options that have caught the eye in 2021…
The post 2 quality tech options for ASX investors in June appeared first on The Motley Fool Australia. –

There are a number of companies in the tech sector that are growing at a strong rate currently.

Two tech options that you might want to get better acquainted with are listed below. Here’s what you need to know about them:

BetaShares Global Cybersecurity ETF (ASX: HACK)

The first option for investors to consider is actually an ETF rather than a single tech share. The BetaShares Global Cybersecurity ETF provides investors with access to the leading tech companies in the growing global cybersecurity sector.

This sector certainly is a great place to be right now. With the threat of cyberattacks on governments and businesses continuing to grow, demand for cybersecurity services has been increasing at a rapid rate. Positively for these companies, with more services moving to the cloud, this demand doesn’t look likely to stop growing any time soon. This bodes well for the growth of the companies included in the BetaShares Global Cybersecurity ETF.

There are a total of 40 companies included in the fund that investors will own a slice of. These include Accenture, Cisco, Crowdstrike, Fortinet, Okta, Splunk, and VMware.

Megaport Ltd (ASX: MP1)

Another ASX tech share to look at is Megaport. It is a provider of elastic interconnection services across data centres globally.

Its provides a software layer that gives users an easy way to create and manage network connections. Through the Megaport network, businesses can deploy private point-to-point connectivity between any of the locations on Megaport’s global network infrastructure.

The company has been benefiting greatly from the shift to the cloud over the last few years. Pleasingly, this has continued in FY 2021 with the company reporting Monthly Recurring Revenue (MRR) growth of 37% to $6.3 million at the end of the first half. If you annualise this, it works out to be revenue of $75.6 million, which is already 30% higher than FY 2020’s revenue of $58 million.

Positively, this strong form was maintained in the third quarter. Megaport recently reported MRR of $6.8 million. This was an 8% increase since the end of December and annualises to $81.6 million.

This went down well with analysts at UBS. Last month the broker retained its buy rating and lifted its price target to $17.10.

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

These are the 10 most shorted shares on the ASX

2 strong ETFs for ASX investors

2 international ETFs for ASX growth investors

3 ASX shares growing at a rapid rate

Got money to invest? Here are 2 ASX shares that could be buys

The post 2 quality tech options for ASX investors in June appeared first on The 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!