2 quick-growing small cap ASX shares to watch

Here are a couple of growing small caps to watch…
The post 2 quick-growing small cap ASX shares to watch appeared first on The Motley Fool Australia. –

Are you interested in small cap ASX shares? If you are, then you may want to look at the ones listed below.

Both these small cap ASX shares have been given buy ratings and are tipped for big things in the future. Here’s why they should be on your watchlist:

Adore Beauty Group Limited (ASX: ABY)

The first small cap to watch is Adore Beauty. It operates a beauty-focused integrated content, marketing, and ecommerce platform that partners with a broad and diverse portfolio of brands and products.

This strategy has worked wonders and led to Adore Beauty’s active customers growing strongly to almost 1 million, which is underpinning strong sales growth.

Pleasingly, while this is a large number, it is still only a small portion of an Australian beauty market worth $11 billion a year at present. This gives Adore Beauty a long runway for growth over the next decade.

UBS is a fan of the company. It currently has a buy rating and $6.00 price target on its shares.

BlueBet Holdings Ltd (ASX: BBT)

Another small cap ASX share to watch carefully is this mobile-first online wagering provider.

BlueBet allows users to bet on all Australian and international racing and sports through its website and app. Thanks to the increasing popularity of mobile sports betting, its sales and customer numbers have been growing strongly in recent years.

Pleasingly, though, BlueBet is still scratching at the surface of a huge market opportunity in both Australia and the United States. And while the latter market will not be easy to crack, BlueBet is forming partnerships with industry players in an attempt to gain access.

The team at Morgans is very positive on BlueBet. The broker currently has add rating and lofty $2.60 price target on its shares.

Morgans recently commented: “We remain attracted to BBT’s opportunity to increase its Australian market share (currently just ~1.2%) and significant, long-term growth potential from its US market entry.”

The post 2 quick-growing small cap ASX shares to watch 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 August 16th 2021

More reading

3 compelling reasons the Adore Beauty (ASX:ABY) share price could be a top buy

3 hot ASX tech shares to buy in 2022

Are these 2 ASX tech shares good buys in December?

2 small cap ASX shares to get excited about

Is the BlueBet (ASX:BBT) share price a serious bargain after losing 23% in a month? Here’s what Motley Fool analyst Trevor Muchedzi says

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. has recommended Adore Beauty Group Limited. The Motley Fool Australia has recommended Adore Beauty Group Limited and BlueBet Holdings 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!