3 of the best ASX shares you can buy today

Xero Limited (ASX:XRO) and these ASX shares have been named as some of the best shares to buy right now. Here’s what you need to know…
The post 3 of the best ASX shares you can buy today appeared first on The Motley Fool Australia. –

Investor with palm up and graphic illustration of asx small cap tech shares charts shooting from his hand

If you’re currently searching for a few shares to add to your portfolio, then you could do a lot worse than the ones listed below.

Here’s why these ASX shares come highly rated right now: Ltd (ASX: KGN)

Kogan is one of Australia’s leading ecommerce companies and the country’s answer to Amazon. It has been growing at a very strong rate in recent years and particularly in FY 2021 thanks to the acceleration of the shift to online shopping.

Last year Kogan raised a significant amount of funds via a capital raising. However, unlike many other companies that required funds to keep their operations afloat, Kogan raised the funds for acquisitions. It has since put these funds to work with the acquisition of furniture retailer Matt Blatt and New Zealand-based ecommerce company Mighty Ape. Both should given its sales growth a boost in the second half of FY 2021.

Analysts at Canaccord Genuity are very bullish on its outlook, particularly given the Mighty Ape acquisition. The broker sees significant synergies from the deal. Canaccord Genuity has a buy rating and $25.00 price target on Kogan’s shares.


Another ASX share to look at is NEXTDC. It is a leading data centre-as-a-service provider with a growing network of centres in key locations across Australia.

As with Kogan, NEXTDC has been a big winner from COVID tailwinds. On this occasion, it is the acceleration of the shift to the cloud. This has underpinned a significant increase in demand for capacity in its data centres and strong sales and earnings growth.

Looking ahead, the company now has its eyes on the Asian market and has opened up offices in a number of key locations. If this expansion is a success, it would give it a significant runway for growth over the next decade and beyond.

Analysts at Morgan Stanley are positive on the company. They currently have an overweight rating and $14.60 price target on its shares.

Xero Limited (ASX: XRO)

Finally, we have cloud business and accounting software company Xero. It has been growing at a rapid rate in recent years and, pleasingly, this has continued in FY 2021.

In November, Xero released its half year results and reported operating revenue growth of 21% over the prior corresponding period to NZ$409.8 million. This led to Xero’s annualised monthly recurring revenue (AMRR) growing 15% to NZ$877.6 million and was driven by a 19% increase in total subscribers to 2.45 million.

Goldman Sachs is very positive on the company and has a buy rating and $157.00 price target on its shares. The broker believes that Xero has a multi-decade runway for strong revenue growth ahead of it.

Where to 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 are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ltd and Xero. The Motley Fool Australia has recommended ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post 3 of the best ASX shares you can buy today 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!