If you’re looking for growth shares to buy, then the tech sector could be a great place to start. In this sector there are a number of companies with the potential to grow materially over the next decade.
With that in mind, I have picked out two top tech options to consider. Here’s what you need to know about them:
BetaShares Global Cybersecurity ETF (ASX: HACK)
The first option for growth shares to consider is actually an ETF. The BetaShares Global Cybersecurity ETF provides investors with access to the leaders in the growing global cybersecurity sector.
This is certainly a great space to be in. Demand for cybersecurity services has been increasing at a rapid rate in recent years and is expected to continue doing so. This is due to the growing threat of cyberattacks on governments and businesses.
There are a total of 40 companies included in the fund that investors will be buying a slice of. These include Accenture, Cisco, Crowdstrike, Fortinet, Okta, Splunk, and VMware.
Whispir Ltd (ASX: WSP)
Another tech share to look at is Whispir. It is a software-as-a-service communications workflow platform provider.
Demand for Whispir’s platform has been growing strongly over the last few years and has continued in FY 2021.
For example, last month it released its third quarter update and revealed that its annualised recurring revenue (ARR) was up 20.3% over the prior corresponding period to $50.3 million. This was driven by continued growth in customers and increased usage.
Pleasingly, with the company recently raising significant capital, it is well-funded to accelerate and execute its growth strategy.
Ord Minnett is very positive on the company’s prospects. Late last month the broker retained its buy rating and $4.25 price target on its shares. This compares very favourably to the current Whispir share price of $2.99.
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
- 3 high quality ETFs for ASX investors in May
- 2 growing small cap ASX shares you need to watch
- 2 exciting ETFs ASX investors need to know about
- Whispir (ASX:WSP) share price charges higher following Q3 update
- 3 excellent small cap ASX shares to watch closely
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 Whispir Ltd. The Motley Fool Australia owns shares of BETA CYBER ETF UNITS. The Motley Fool Australia has recommended Whispir Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post 2 highly rated ASX tech shares for growth investors appeared first on The Motley Fool Australia.
from The Motley Fool Australia https://ift.tt/3b4Fhq9
Leave a Reply