Looking for investment ideas this month? Below are three options to consider next week.
Here’s what you need to know about these highly rated ASX shares:
BetaShares Global Cybersecurity ETF (ASX: HACK)
The first ASX share for investors to look at is an ETF. The BetaShares Global Cybersecurity ETF provides investors with exposure to the leaders in the global cybersecurity sector. This is a sector that is heavily under-represented on the ASX. Which is a big shame given how demand for cybersecurity services is forecast to grow materially in the future. Among the companies in the fund that you’ll be owning a slice of are cybersecurity giants Accenture, Cloudflare, Crowdstrike, Okta, and Palo Alto Networks.
REA Group Limited (ASX: REA)
Another ASX share to consider is property listings company REA Group. It is best-known for the realestate.com.au website, which has been dominating the ANZ market for years. This continued in FY 2021, with the company recording an average of 121.9 million monthly visits to its website. This was up 35% year on year and is 3.3 times greater than its nearest competitor. In light of this dominance, the booming housing market, and new acquisitions and revenue streams, REA Group has been tipped to grow strongly in the coming years by the team at Macquarie. As a result, the broker has an outperform rating and $192.00 price target on its shares.
TechnologyOne Ltd (ASX: TNE)
A final ASX share to look at is TechnologyOne. It is Australia’s largest enterprise software company, providing a global software as a service (SaaS) ERP solution that transforms business and makes life simple for its customers. At the last count, there were well over 1,000+ leading corporations, government agencies, local councils and universities being powered by its software. This has underpinned strong recurring revenue growth and is expected to continue doing so in the coming years. For example, management is targeting annual recurring revenue (ARR) of over $500 million by FY 2026. This is almost double its current base ARR of $257.5 million. Bell Potter is a fan and has a buy rating and $15.00 price target on its shares.
Should you invest $1,000 in TechnologyOne right now?
Before you consider TechnologyOne, 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 TechnologyOne wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of August 16th 2021
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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. owns and has recommended BETA CYBER ETF UNITS. The Motley Fool Australia owns and has recommended BETA CYBER ETF UNITS. The Motley Fool Australia has recommended REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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