It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Bank of Queensland Limited (ASX: BOQ)

According to a note out of Goldman Sachs, its analysts have reiterated their buy rating but trimmed their price target on this regional bank’s shares to $9.34. This follows the release of the bank’s half year results, which revealed cash earnings 17% ahead of the broker’s estimates. This was driven by a better-than-expected performance on bad and doubtful debts. And while Goldman has trimmed its longer term earnings estimate to reflect lower interest earning assets and net interest margin assumptions, it remains positive on its outlook and sees plenty of value in its shares. The Bank of Queensland share price ended the week at $7.99.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

A note out of Morgans reveals that its analysts have retained their add rating but trimmed their price target on this pizza chain operator’s shares to $100. The broker has updated its model to take account of recent inflationary pressures and a more cautious view on near-term sales growth in Japan. This has led to a reduction in its earnings estimates for FY 2022. However, it still expects Domino’s to outperform the consensus estimate and continues to see a lot of value in its shares. The Domino’s share price was fetching $81.13 at Thursday’s close.

Pilbara Minerals Ltd (ASX: PLS)

Analysts at Citi have upgraded this lithium miner’s shares to a buy rating with an improved price target of $3.60. According to the note, the broker made the move largely on valuation grounds due to a recent pullback in its share price. In addition, Citi has bumped its lithium price forecasts higher on the belief that it could be a couple of years until the lithium market balances. The Pilbara Minerals share price ended the week at $2.96.

The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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• Why Bank of Queensland, Iluka, New Hope, and Zip shares are falling today
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• Bank of Queensland share price sinks 6% on half-year update
• Why is the Pilbara Minerals share price having such a stellar end to the week?
• Which ASX lithium shares does Macquarie tip to outperform?

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. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Dominos Pizza Enterprises 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Crypto fans were loading up on Shiba Inu (CRYPTO: SHIB) after Robinhood Markets (NASDAQ: HOOD) announced trading availability on Monday morning. The token initially soared as much as 30% on the news, and 12 hours later Shiba Inu was still trading a healthy 17% above where it was when the news broke.

It’s obviously not bad news for Shuba Inu to find its way onto a new exchange. It also helps that Robinhood only had seven digital currencies available before adding four new denominations, including Shiba Inu, on Tuesday.

I’m still not convinced that the initial rally will stick. Let’s go over some of the reasons availability on Robinhood isn’t a game-changer for Shiba Inu fans.

1. Robinhood isn’t as relevant as you might think

There’s no denying that Robinhood Markets shook up the brokerage industry a couple of years ago. Would most of the leading platforms be offering commission-free trading otherwise? The problem now is that the platform has lost its grip on its young trading base.

Robinhood lost traction as 2021 played out. There’s no shortage of metrics that prove it.

• The number of monthly transacting users slipped from 21.3 million in the second quarter to 18.9 million in the third quarter, and then 17.3 million in the fourth quarter.
• Average revenue per user has fallen in three consecutive quarters. Robinhood has gone from generating $137 per user during the first quarter to $64 in the fourth quarter.
• Assets under custody were lower by the end of the year than where they were at the midpoint of 2021.

The pressure points are everywhere. Fewer people are trading, and people are trading less. That’s a bad look for a trading platform, and we haven’t even gotten to the most problematic metric.

Robinhood isn’t just about crypto. It’s also a hotbed for options and stock trading. Stock and options trading has held fairly steady through the final three quarters of 2021, but the same can’t be said for crypto. Robinhood reported transactions-based crypto revenue of $233 million in the second quarter, followed by $51 million in the third and $48 million in the fourth quarter. Put another way, Crypto transactions revenue went from 52% of Robinhood’s business in the second quarter to just 18% by the end of the year.

2. Every spike is different

If being added to Robinhood’s select number of crypto choices is so praiseworthy, shouldn’t all of the digital currencies added to Robinhood experience the same pop? In the same 12 hours of Shiba Inu’s 17% ascent, two of the three other cryptocurrencies rose less than 4%. One has a higher market cap than Shiba Inu, and the other one is lower.

Is there any reason for Shiba Inu to be the one to surge higher? Is it just because Shiba Inu’s a meme coin? There is a bullish case to be made for Shiba Inu; I’m just pointing out that Tuesday’s pop is more based on hype than on the sustainable merits accorded to a crypto that’s been added to Robinhood. You might also want to check in on the uninspiring returns from some of the seven cryptocurrencies that have been trading on the platform for longer.

3. It’s too late for Robinhood to be taken seriously in crypto

Robinhood is trying to make up for the lost time it squandered. It’s finally rolling out a crypto wallet to make its digital currencies easier to move away from the platform, but as we’ve seen in recent quarters, crypto traders have already cleared out.

Investors are smart enough to see through the “free” crypto trading that Robinhood offers, and the folks sticking around the once trailblazing platform tend to be small players these days. Having Shiba Inu coin now available is not detrimental to the crypto, but it’s also not going to matter beyond Tuesday’s initial buzz.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post 3 reasons Robinhood’s addition of Shiba Inu doesn’t matter appeared first on The Motley Fool Australia.

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Rick Munarriz has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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If you’re interested in adding some growth shares to your portfolio in the near future, then the two listed below could be worth considering.

These ASX growth shares have been named as buys and tipped to generate strong returns for investors. Here’s what you need to know about them:

NextDC Ltd (ASX: NXT)

The first ASX growth share to look at is NextDC. It is a data centre operator with a collection of world class centres across key locations throughout Australia.

But NextDC isn’t settling for that. It is also aiming to grow its data centre network with edge centres in regional areas and by expanding into the Singapore and Tokyo markets. Overall, this is positioning the company to capture the increasing demand for data centre capacity thanks to the ongoing structural shift to the cloud.

Citi is a fan of the company. It has a buy rating and $14.55 price target on NextDC’s shares. Based on the latest NextDC share price of $11.17, this implies potential upside of 30% for investors.

TechnologyOne Ltd (ASX: TNE)

Another ASX growth share to look at is enterprise software provider TechnologyOne.

It is in the process of transitioning from a traditional software company into a software-as-a-service (SaaS) focused business. Pleasingly, this transition is going very well and is positioning TechnologyOne to deliver strong recurring revenue growth over the coming years.

In fact, management believes it is on track to achieve its annual recurring revenue (ARR) target of over $500 million by FY 2026. This is almost double its current base ARR of $257.5 million.

Bell Potter is very positive on the company and has been pleased with the transition. The broker has a buy rating and $14.00 price target on its shares at present. Based on the latest TechnologyOne share price of $10.92, this suggests that there is potential upside of over 28% for investors over the next 12 months.

The post Analysts name 2 ASX growth shares to buy with ~30% upside potential appeared first on The Motley Fool Australia.

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• 2 highly rated ASX 200 shares analysts are tipping as buys right now

Motley Fool contributor James Mickleboro owns NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The CSL Limited (ASX: CSL) share price finished the session in the green on Thursday at $264.95, up 0.76%. For many years, this blue-chip behemoth has been a star performer of the ASX. Over the five years leading up to the COVID-19 market meltdown in March 2020, CSL stock ascended by almost 200%.

The pandemic has sent this ASX biotech share on a rollercoaster ride. In the past 12 months, CSL shares reached a 52-week high of $319.78 in November 2021. They then took a tumble to a 52-week low of $240.10 in February. In the year to date, the CSL share price is down by 9%.

Which begs the question: Should you buy the dip?

A 9% discount year-to-date

A 9% dip might not sound significant for an expensive stock like CSL but consider this. Before the pandemic, the CSL share price peaked at an all-time high of $342.75 — which might make today’s price of $264-ish look a little different in terms of a potential buying opportunity.

And here’s what the experts have to say.

Analysts at Citi recently retained their buy rating on CSL and valued the company at $335 per share. That’s an enormous price target that signifies a 26% total shareholder return if it were to eventuate.

“Over the next six months, we expect the market to focus on the strong underlying plasma market demand, and the closure of the Vifor deal, both of which should lead to strength in the share price,” the broker commented in a recent note.

Citi joins an extensive list of analysts advocating CSL, with 87% of coverage saying buy and just 12.5% saying sell. The consensus price target is $316.60, so Citi sits above the consensus with its analysis. So does Macquarie.

What does Macquarie think of the CSL share price?

The broker is bullish on CSL and reckons there will be a strong growth trajectory until FY24, given a variety of catalysts.

It recently noted that CSL’s acquisition of Vifor Pharma lends the biotech giant opportunities in the iron deficiency and kidney disease segments. Not only that, but the Vifor buy enables CSL to diversify into new markets whilst adding new opportunities for research and development (R&D).

It prices CSL at $327 per share on a buy rating, aloft consensus, but not too far off the share’s 52-week high of $319 in November.

The post Should ASX investors buy the dip in the CSL share price? appeared first on The Motley Fool Australia.

More reading

• 2 blue chip ASX 200 shares analysts rate as buys this month
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• How is the CSL share price performing against its sector in 2022?
• 2 of the highest quality ASX 200 shares analysts are tipping as buys

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended CSL Ltd. The Motley Fool Australia has recommended Macquarie 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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