These small cap shares have been tipped as buys…
The post Analysts say these small cap ASX shares have big futures appeared first on The Motley Fool Australia. –
Looking for some small cap shares to buy? Then have a look at the ones listed below.
Here’s why they could be worth getting better acquainted with:
Airtasker Ltd (ASX: ART)
The first small cap ASX share to consider is Airtasker. It is a growing online marketplace provider for local services that estimates that it has a total addressable market of $600 billion across Australia, the UK, and the US markets.
It has also just announced an agreement to acquire Australia’s third largest local services platform Oneflare. This is expected to strengthen its offering and give it a strong presence in trades, home improvement and professional services.
Morgans is very positive on the company. It currently has an add rating and $1.15 price target on the company’s shares. Though, that could change in the coming days following the acquisition and the accompanying capital raise.
PlaySide Studios Limited (ASX: PLY)
Another small cap ASX share to that has been tipped as a buy is PlaySide Studios. It is one of the largest video game developers in Australia with a growing portfolio of titles.
In addition, the company has recently announced work for hire deals with a number of industry giants including 2K Games and Activision Blizzard. This appears to demonstrate PlaySide’s growing reputation in the industry and could open the door to other deals in the future if everything goes to plan.
Another potential money spinner is the company’s exposure to NFTs. For example, it recently revealed revenue of $8 million from NFTs related to the Dumb Ways to Die brand. Aussie NBA star Ben Simmons was a buyer of five of these tokens according to records.
Ord Minnett is a fan of PlaySide. It currently has a speculative buy rating and 95 cents price target on its shares.
The post Analysts say these small cap ASX shares have big futures appeared first on The Motley Fool Australia.
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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 Airtasker Limited. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.