Keep an eye on these small cap ASX shares…
The post 3 exciting small cap ASX shares to watch this month appeared first on The Motley Fool Australia. –
At the small end of the Australian share market, there are a number of companies with the potential to grow materially in the future.
Three that investors might want to get better acquainted with are listed below. Here’s what you need to know about them:
Adore Beauty Group Limited (ASX: ABY)
The first small cap to watch is Adore Beauty. It is Australia’s leading online beauty retailer. It appears well-placed for growth over the next decade thanks to its leadership position and the structural shift online for beauty sales. Analysts at UBS are positive on its outlook. The broker recently put a buy rating and $5.60 price target on its shares. This compares to the latest Adore Beauty share price of $4.42.
Audinate Group Limited (ASX: AD8)
Another small cap to watch is Audinate. It is the digital audio-visual networking technologies provider behind the Dante audio over IP networking solution. This solution is used across a number of industries and the industry leader by a significant distance. This has put Audinate in a great position to benefit from increasing demand once the pandemic passes. In fact, you only need to look at its third quarter update to see this. For the three months ended 31 March, pent up demand led to Audinate reporting its highest ever quarterly revenue. Morgan Stanley currently has an overweight rating and $10.00 price target. This compares to the latest Audinate share price of $7.79.
Pointerra Ltd (ASX: 3DP)
A final small cap to watch is Pointerra. It provides businesses with a powerful cloud-based solution for managing, visualising, analysing, and sharing massive 3D point clouds and datasets. The company’s clever platform can effortlessly extract vital information from data that would otherwise take many hours to do. Management believes that it has an enormous $500 billion market opportunity globally.
The post 3 exciting small cap ASX shares to watch this month appeared first on The Motley Fool Australia.
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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 AUDINATEGL FPO and Pointerra Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Adore Beauty Group Limited. The Motley Fool Australia owns shares of and has recommended AUDINATEGL FPO. The Motley Fool Australia has recommended Pointerra Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.