Due to the quality on offer in it, the tech sector could be a great place to make long term investments.
But which shares should you look at? Two exciting ASX tech shares that have been given buy ratings are listed below. Here’s why they might be shares to buy:
Life360 Inc (ASX: 360)
Life360 is a San Francisco-based company that provides families with a market leading app that create tools that remove uncertainty from modern life.
Among its many features are real-time location sharing and notifications and driving safety features like Crash Detection and Roadside Assistance.
Life360’s app is proving to be very popular with families. In fact, at the last count, the company had more than 25 million monthly active users (MAU) across 195 countries. And that’s at a time with low levels of mobility because of the pandemic.
Bell Potter is a fan of Life360. Its analysts currently have a buy rating and $7.70 price target on its shares. The broker notes that the company is carving out a significant global footprint with its family app at the core. Furthermore, it is expecting the company to benefit greatly once the pandemic passes and people are on the move again.
Volpara Health Technologies Ltd (ASX: VHT)
Another ASX tech share to look at is Volpara. It is a New Zealand-based healthcare technology company best known for its VolparaEnterprise software solution.
VolparaEnterprise is a cost-effective, mission-critical tool that helps clinics deliver the highest-quality breast imaging services. This high quality software has been growing rapidly in popularity, leading to strong market share gains.
So much so, at the end of the third quarter of FY 2021, Volpara reported that its software was used in over 27% of screenings for women in the United States.
As well as the core VolparaEnterprise product, Volpara has been developing and acquiring complementary software. These add-ons are expected to drive a significant increase in average revenue per user (ARPU) in the future. In fact, management estimates that its whole suite is worth US$10 per user. This is notably more than its current ARPU of US$1.22.
Morgans is a big fan of Volpara. Earlier this month the broker put an add rating on its shares and lifted its price target to $1.94.
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.
*Returns as of February 15th 2021
More reading
- 2 little known small cap ASX shares to buy
- Here’s an ASX tech share flying under the radar: fundie
- Top brokers name 3 ASX shares to buy today
- Why AGL, Clover, QBE, & Volpara shares are pushing higher today
- 2 small cap ASX shares with huge potential
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 recommends VOLPARA FPO NZ. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Life360, Inc. The Motley Fool Australia has recommended VOLPARA FPO NZ. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post 2 stellar ASX tech shares to buy in April appeared first on The Motley Fool Australia.
from The Motley Fool Australia https://ift.tt/3lYCAdR
Leave a Reply