Are you interested in adding some more ASX shares to your portfolio in June?

Three ASX shares that could be worth considering this month are listed below. Here’s what you need to know about them:

Altium Limited (ASX: ALU)

The first ASX share to look at is Altium. It is an award-winning printed circuit board (PCB) design software provider. Altium could be worth considering due to its leading position in a market exposed to the Internet of Things and artificial intelligence booms. The proliferation of electronic devices is expected to lead to increasing demand for its software over the next decade.

Bell Potter currently has a buy rating and $41.25 price target on its shares. This compares to the latest Altium share price of $27.62.

Life360 Inc (ASX: 360)

Another ASX share to look at is Life360. This growing technology company is responsible for the Life360 mobile app. This market leading app is for families and offers useful features such as communications, driver safety, and location sharing. It also recently acquired Jiobit and items tracking company Tile. These are opening the door to material cross and upselling opportunities to its tens of millions of users.

Bell Potter is bullish on the company’s future and has a buy rating and $7.50 price target on its shares. This compares to the current Life360 share price of $3.12.

Megaport Ltd (ASX: MP1)

Megaport could be another ASX share to consider buying. It offers scalable bandwidth for public and private cloud connections, metro ethernet, and data centre backhaul. Megaport has networking equipment in hundreds of data centres around the world, which has created a software layer that provides an easy way for users to create and manage network connections. This means that through the Megaport network, users can create and run a global network with or without the need for physical infrastructure.

Goldman Sachs currently has a buy rating and $13.10 price target on Megaport’s shares. This compares favourably to the latest Megaport share price of $5.95.

The post 3 fantastic ASX shares that analysts reckon have huge upside potential appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Altium, Life360, Inc., and MEGAPORT FPO. The Motley Fool Australia has recommended MEGAPORT FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The All Ordinaries Index (ASX: XAO) fell today, but three ASX All Ordinaries shares defied the trend.

The All Ords Index fell 1.54% today to 7,318.60 points. For perspective, the S&P/ASX 200 Index (ASX: XJO) also dropped 1.53%.

So let’s take a look at which shares outperformed the index today.

Lake Resources N.L. (ASX: LKE)

The Lake Resources share price jumped 3.9% today. However, in earlier trade, it leapt 7% before pulling back.

The lithium developer’s shares jumped on the day after the company was added to the benchmark ASX 200 index as part of a June 2022 quarterly rebalance. ASX lithium shares including Lake tumbled last week after Argentina set a reference price for lithium carbonate exports of US$53 per kilogram.

However, a S&P Global Commodity Insights publication overnight states that Chinese lithium carbonate producers don’t see “any impact of this announcement” on the spot market in the near term. The source said:

I think overseas prices won’t drop drastically following Argentina’s announcement, though there’s also not enough support for prices to go up that much more,

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price jumped 3.77% today. However, in earlier trade, the company’s share price lifted 7.5% before retreating. Like Lake Resources, Core Lithium also joined the ASX 200 index yesterday.

As my Foolish colleague Bernd reported, investors potentially saw the ASX lithium share sell-off last Wednesday as “overdone”. Lithium shares fell on Wednesday after news of the Argentina reference point on lithium prices, along with a note out from Goldman Sachs.

However, other market analysts including Macquarie are more optimistic on the outlook for ASX lithium shares. Core Lithium is exploring the Finniss Lithium project near Darwin in the Northern Territory. Drill assay results from the project released on 3 June revealed intersections outside the mineral resource at BP33.

Perenti Global Ltd (ASX: PRN)

The Perenti Global share price soared a mammoth 10% today, defying the market trend. Shares jumped after the company announced a huge contract win.

The mining services company has been awarded a contract for the Evolution Mining Ltd (ASX: EVN) Cowal Underground project in NSW. The contract, involving both production and underground development, could be worth a whopping $520 million. Perenti said the project will deliver strong cash flows in return for capital investment.

Commenting on the win, CEO Mark Norwell said:

The Cowal contract represents one of the largest underground mining projects in Barminco’s history, generating revenue of nearly $520 million with an initial term of four years, from a contract commencement date in early July 2022.

The post 3 ASX All Ordinaries shares that had a terrific Tuesday appeared first on The Motley Fool Australia.

More reading

• Core Lithium share price shakes off oversupply concerns to march 8% higher today
• Why is the Lake Resources share price rising 6%?
• Why Core Lithium, Perenti, Strandline, and Yancoal shares are pushing higher
• Here’s why the Perenti share price is rocketing 18% today
• Could the Core Lithium share price be set to take off again in June?

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 Scott Phillips.

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The Piedmont Lithium Ltd (ASX: PLL) share price has reversed all of its gains since the start of the month.

This comes despite the company not releasing any price-sensitive news to the ASX lately.

At market close, shares in the Australian lithium miner finished the day at 80 cents, down 3.03%. This means that its shares have lost 13% in a week.

Let’s take a look at what could be driving the fall around the company’s share price.

What has happened to Piedmont shares?

Investors are continuing to offload Piedmont shares after heavy falls across the lithium sector in the past week.

As widely reported, Goldman Sachs sent shockwaves across the lithium industry following its bearish report.

The United States-based investment behemoth predicted that lithium prices will drop to US$16,000 per tonne in 2023.

Currently, the going price for the battery making ingredient is around US$70,000. This represents a drop of more than 77% in the coming year.

According to Goldman Sachs, the sharp correction is being driven by “fundamental mispricing which has generated an outsized supply response.”

While lithium miners dismissed the negative analysis, investors sidelined with Goldman Sachs, sending lithium stocks south.

On the upside, the broker believes that long-term demand for lithium will remain robust from around 2024.

Piedmont share price summary

Despite the recent fall, the Piedmont share price has risen by almost 9% in 2022.

However, when looking at the longer-term, the company’s shares are down 12% over the past 12 months.

For context, the S&P/ASX 200 Index (ASX: XJO) has tumbled 4.6% in 2022, and 2.5% since this time last year.

Based on today’s price, Piedmont commands a market capitalisation of roughly $453.71 million.

The post Why has the Piedmont Lithium share price cratered 13% in a week? appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras 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 Scott Phillips.

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The Temple & Webster Group Ltd (ASX: TPW) share price had a tough day today.

The company’s share price dropped 10.42% to $3.87. For perspective, the S&P/ASX 200 Index (ASX: XJO) fell 1.53% today.

So what impacted the Temple & Webster share price today?

RBA rate decision

The Temple & Webster share price finished the day well in the red, but it was not the only ASX retail share to drop.

The JB Hi-Fi Limited (ASX: JBH) share price slipped 3.45% today, while Harvey Norman Holdings Limited (ASX: HVN) shares fell 1.16% and the Nick Scali Limited (ASX: NCK) share price dropped 1.85%.

Temple & Webster shares fell in the lead up to and following the Reserve Bank of Australia (RBA) lifting interest rates this afternoon.

The RBA lifted the benchmark interest rate by 0.5 percentage points today to curb inflation, as my Foolish colleague Bernd reported. The cash rate now sits at 0.85%.

A rate hike was widely predicted. Goldman Sachs predicted the 0.50% jump, while other analysts predicted more modest increases of between 0.25 and 0.4%.

Interest rate rises can impact retail shares due to rising costs and consumers having less spare cash to spend on retail including furniture and homewares.

Reserve Bank Governor Philip Lowe said: “Inflation in Australia has increased significantly. While inflation is lower than in most other advanced economies, it is higher than earlier expected.”

City Index senior market analyst Matt Simpson said the rate hike was the first 50 basis point (bps) rise since February 2000. He added:

That’s also 75-bps over the past two meetings, which makes it their most aggressive back to back meeting on record.

I really think the RBA have restored some credibility today by coming out swinging.

Multiple brokers have recently rated the Temple & Webster share price as a buy, including Credit Suisse, UBS, and Morgan Stanley.

In a recent update, the company launched a new online business named The Build with 20,000 products in 39 categories.

Temple & Webster share price snapshot

The Temple & Webster share price has fallen 64% in the past year, and by a similar amount in the year to date. It’s also down 12% over the past month and 17% in a week.

For perspective, the S&P/ASX 200 Index (ASX: XJO) has lost nearly 3% in the past year.

The post Why did the Temple & Webster share price plunge 10% today? appeared first on The Motley Fool Australia.

More reading

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• Could now be a great time to start investing in ASX shares?
• Why I think the Temple & Webster share price is in the buy zone right now

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Temple & Webster Group Ltd. The Motley Fool Australia has recommended Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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