If you’re looking for some new ASX shares to add to your portfolio then you may want to look at the two listed below.
Here’s what analysts are saying about them:
Hipages Group Holdings Ltd (ASX: HPG)
The team at Goldman Sachs is very positive on this tradie marketplace provider. The broker believes Hipages is well-placed to grow at a strong rate over the long term as it builds out its ecosystem. Goldman was also pleased with the acquisition of Builderscrack, which gives the company a firm footing in the New Zealand market.
Goldman commented: “We believe HPG is very well-placed to execute on its strategy to build out its leading tradie services marketplace and the acquisition of Builderscrack is an attractive opportunity to replicate the HPG strategy in the NZ market.”
“We see meaningful growth opportunity from here: HPG currently captures only 2.4% of industry GMV; of the GMV it does service, the take rate is low compared to other vertical marketplaces. We forecast a 24% revenue CAGR and a 38% EBITDA CAGR from FY21-FY24E,” it added
Goldman Sachs has a buy rating and $5.15 price target on Hipages’ shares.
Webjet Limited (ASX: WEB)
This online travel agent is rated as a buy by the team at Morgans. Its analysts appear to believe that investors will reap the rewards of being patient with its shares. This is due to the belief that Webjet will come out of the pandemic as a much stronger and profitable business with a larger market share.
The broker commented: “WEB is targeting to return to pre-COVID booking levels in the 2H23. Management continues to maintain its aspirational market share targets and wants to reduce the company’s cost base by 20% when it returns to scale. This means that WEB should be materially more profitable post COVID.”
Morgans currently has an add rating and $6.60 price target on Webjet’s shares.
The post Analysts name 2 excellent ASX shares to buy now appeared first on The Motley Fool Australia.
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More reading
- Potential buys: 2 excellent ASX shares
- Why is the Webjet (ASX:WEB) share price underperforming Helloworld in December?
- How are ASX 200 travel shares faring over the holiday season?
- 4 fantastic ASX growth shares to buy
- ASX travel shares in focus on global flight cancellations
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 Hipages Group Holdings Ltd. The Motley Fool Australia has recommended Hipages Group Holdings Ltd. and Webjet Ltd. 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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