Looking for tech shares? Check out these shares…
The post 3 exciting ASX tech shares to buy this month appeared first on The Motley Fool Australia. –
If you’re looking to add a bit of tech exposure to your portfolio, then you might want to look at the shares listed below.
Here’s why these tech shares could be top options:
The first tech share to look at is Kogan. It is an ecommerce company which has been benefitting greatly from the shift to online shopping. And while inventory issues hit its margins significantly in FY 2021, this is only expected to be a short term headwind. After which, Kogan and its businesses appear well-placed to benefit from the structural shift online.
Credit Suisse has an outperform rating and $14.06 price target on its shares. Its analysts remain confident in Kogan’s long term growth prospects.
PointsBet Holdings Ltd (ASX: PBH)
Another tech share to consider is PointsBet. It is a growing sports wagering operator and iGaming provider. PointsBet offers innovative sports and racing betting products and services via a scalable cloud-based platform. It currently operates in the ANZ and United States markets and has delivered significant growth in both. Positively, it is still only scratching at the surface of its massive opportunity in the lucrative US market.
Goldman Sachs is a big fan of PointsBet and currently has a buy rating and $14.75 price target on its shares. The broker believes it can grow at a rapid rate over the coming years.
Zip Co Ltd (ASX: Z1P)
A final tech share to look at is Zip. This buy now pay later (BNPL) provider has been growing at a rapid rate over the last few years thanks to the popularity of the payment method with consumers and merchants and its global expansion. Zip is now expanding its offering to give users access to savings accounts and even cryptocurrency.
The team at Jefferies are happy with the company’s strategy. Earlier this week, the broker put a buy rating and $8.28 price target on its shares. Jefferies believes Zip’s shares are cheap in comparison to its rivals.
Should you invest $1,000 in Zip right now?
Before you consider Zip, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Zip wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of August 16th 2021
PointsBet (ASX:PBH) share price falls amid ‘exclusive’ agreement
Top broker says Zip (ASX:Z1P) share price can rise 22%
Down 4%, why the PointsBet (ASX:PBH) share price is close to 12-month lows
ASX 200 rises, Zip falls, Brambles sinks
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 Kogan.com ltd, Pointsbet Holdings Ltd, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd. 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.