There are a large number of ASX shares to choose from on the Australian share market.
Three that come highly rated are listed below. Here’s why these ASX shares are being tipped as buys:
Healius Ltd (ASX: HLS)
The first ASX share to look at is Healius. It is one of Australia’s largest pathology and diagnostic imaging providers. This makes it extremely well-placed to benefit greatly from increasingly strong demand for COVID-19 testing. This certainly was the case in the first quarter when Healius reported a 43.7% increase in quarterly revenue over the prior corresponding period to $689.9 million. More of the same is expected over the remainder of FY 2022.
Earlier this week, Morgans upgraded the company’s shares to an add rating with a $5.79 price target.
Life360 Inc (ASX: 360)
Another share to look at is Life360. Through its eponymous Life360 app, the company operates in the digital consumer subscription services market. It has a focus on products and services for digitally native families, where all members of the household are connected by smartphones. At the last count, the company had a massive 33.8 million monthly active users are using its app. This is supporting stellar recurring revenue growth and provides it with countless opportunities to monetise its user base further in the future.
Bell Potter is bullish on Life360. It currently has a buy rating and $16.25 price target on its shares.
SEEK Limited (ASX: SEK)
A final ASX share to consider is this job listings company. While SEEK was hit hard by the pandemic, it bounced back very strongly in FY 2021. It reported a 1% increase in revenue to $1,591 million and a 58% jump in net profit after tax (excluding significant items) to $141 million. The good news is that more of the same is expected in the coming years as the Australian economy recovers from COVID-19.
Credit Suisse is a fan of SEEK and has an outperform rating and $39.50 price target on its shares.
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Motley Fool contributor James Mickleboro owns Life360, Inc. and SEEK Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Life360, Inc. The Motley Fool Australia has recommended SEEK 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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