3 rapidly growing ASX tech shares to buy

These tech shares are growing rapidly…
The post 3 rapidly growing ASX tech shares to buy appeared first on The Motley Fool Australia. –

The tech sector is home to a number of companies growing at a rapid rate.

Three that have been standout performers recently are listed below. Here’s what you need to know about these growing tech shares:

Bigtincan Holdings Ltd (ASX: BTH)

The first tech share to look at is Bigtincan. It is a fast-growing sales enablement platform provider. In FY 2021, the company reported a 48% increase in annualised recurring revenue (ARR) to $53.1 million. Positively, it has just announced an agreement to acquire US-based Brainshark. It is an industry-recognised and multi-awarded leader in its field of sales coaching, learning and readiness. Management expects this to lead to combined ARR of $119 million in FY 2022. This will be up 124% year on year.

Morgan Stanley is very positive on the company. Earlier today it put an overweight rating and $2.10 price target on its shares.

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. At the last count, there were over 34,000 tradies using the platform. This has been driving very strong growth across 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 currently has a buy rating and $4.10 price target on its shares.

PointsBet Holdings Ltd (ASX: PBH)

A final tech share to look at is PointsBet. It is a sports betting and iGaming provider with operations in the ANZ and US markets. It has been growing even quicker than the others, delivering a whopping 228% increase in full year turnover to $3,781.4 million in FY 2021. Underpinning this impressive result was a 117% increase in Australian active clients to 196,585 and a 661% increase in US active clients to 159,321.

Credit Suisse is bullish and has an outperform rating and $13.30 price target on its shares.

The post 3 rapidly growing ASX tech shares to buy 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

Top brokers name 3 ASX shares to buy today

Why Bigtincan, Lovisa, SILK, & WiseTech shares are charging higher

Bigtincan (ASX:BTH) share price rockets 20% with capital raising update
2 rapidly growing ASX shares rated as buys

Bigtincan (ASX:BTH) share price halted ahead of $116 million Brainshark acquisition

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 BIGTINCAN FPO, Hipages Group Holdings Ltd., and Pointsbet Holdings Ltd. The Motley Fool Australia owns shares of and has recommended BIGTINCAN FPO. 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.

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!