These tech shares could be in the buy zone…
The post 3 ASX tech shares to buy appeared first on The Motley Fool Australia. –
The tech sector is home to a number of companies with strong growth potential.
Three that are highly rated are listed below. Here’s what you need to know about these tech shares:
BetaShares Global Cybersecurity ETF (ASX: HACK)
The first ASX tech share to consider is actually an ETF that gives investors exposure to a group of tech companies. The BetaShares Global Cybersecurity ETF gives investors access to the leading companies in the global cybersecurity sector. This includes quality companies such as Accenture, Cisco, Cloudflare, Fortinet, Okta, Splunk, Zscaler, Crowdstrike. Given the rising threat of cyber attacks, demand for their services is expected to grow strongly over the 2020s.
Hipages Group Holdings Ltd (ASX: HPG)
Another ASX tech share to look at is Hipages. It is a leading Australian-based online platform and software as a service (SaaS) provider connecting consumers with trusted tradies. There are currently over 34,000 tradies using the platform, which is underpinning strong growth across all its key metrics. For example, in FY 2021 Hipages outperformed its upgraded full year revenue guidance with a 22% year on year jump to $55.8 million. Goldman Sachs is very bullish on its growth prospects. As a result, it currently has a buy rating and $4.35 price target on its shares.
PointsBet Holdings Ltd (ASX: PBH)
A final ASX tech share to look at is PointsBet. It is a sports betting and iGaming provider with operations in the ANZ and US markets. PointsBet has been growing at a rapid rate, reporting a whopping 228% increase in full year turnover to $3,781.4 million in FY 2021. This was driven by a 117% increase in Australian active clients to 196,585 and a 661% increase in US active clients to 159,321. Credit Suisse is confident this strong form will continue. It has an outperform rating and $13.30 price target on its shares.
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*Returns as of August 16th 2021
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 BETA CYBER ETF UNITS, Hipages Group Holdings Ltd., and Pointsbet Holdings Ltd. The Motley Fool Australia owns shares of and has recommended BETA CYBER ETF UNITS. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.