3 fantastic ASX shares that analysts reckon have huge upside potential

Investor riding a rocket blasting off over a share price chart

Investor riding a rocket blasting off over a share price chart

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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Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

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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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