Looking for tech shares? Check out these shares…
The post Zip (ASX:Z1P) and these ASX tech shares are rated as buys 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:
Nitro Software Ltd (ASX: NTO)
The first tech share to look at is this fast-growing global document productivity software company. Nitro’s cloud-based software allows organisations to drive better business outcomes through 100% digital document processes and fast, efficient workflows. At the last count, the company had over 2.8 million licensed users and 12,000+ business customers in 155 countries. This helped underpin a 50% increase in its annual recurring revenue during the third quarter.
In response to that update, Bell Potter retained its buy rating and lifted its price target to $4.50.
PointsBet Holdings Ltd (ASX: PBH)
Another tech share to consider is PointsBet. It is a sports wagering operator and iGaming provider offering innovative sports and racing betting products and services via a scalable cloud-based platform. It has been growing at a rapid rate over the last few years thanks to its growing customer base in both the ANZ and US markets. Pleasingly, this positive form is expected to continue, with Goldman Sachs forecasting very strong growth over the coming years as its US expansion gathers pace. This expansion will be supported by its game-changing deal with US sports broadcaster NBCUniversal.
Goldman currently has a buy rating and $12.79 price target on the company’s shares.
Zip Co Ltd (ASX: Z1P)
A final tech share to look at is Zip. Thanks to the ever-increasing popularity of the buy now pay later (BNPL) payment method with consumers and merchants, Zip has been growing at a rapid rate in recent years. Pleasingly, this has continued in FY 2022. Following a strong first quarter, Zip delivered a record month in October. It reported over $770 million in transaction volume for the month, which was a 94% increase on the prior corresponding period. It also annualises at over $9 billion. This is still only a fraction of its global market opportunity.
Shaw and Partners is very bullish on Zip. The broker believes Zip’s shares trade on undemanding multiples. In light of this, its team has a buy rating and lofty $16.10 price target.
The post Zip (ASX:Z1P) and these ASX tech shares are rated as buys appeared first on The Motley Fool Australia.
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.
*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 Pointsbet Holdings Ltd and ZIPCOLTD FPO. The Motley Fool Australia has recommended Nitro Software Limited and Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.