If you are looking to bolster your portfolio with some ASX tech shares, you may want to look at the two listed below that have been tipped as buys by Goldman Sachs.
Hereâs what the broker is saying about these ASX tech shares:
Readytech Holdings Ltd (ASX: RDY)
The first ASX tech share that Goldman Sachs has named as a buy is Readytech.
It is a leading provider of mission-critical software-as-a-service (SaaS) solutions for the education, employment services, workforce management, government and justice sectors.
Goldman is very positive on the company’s outlook and is forecasting stellar growth in the coming years. So much so, its analysts believe Readytech will deliver on its FY 2026 revenue target of $140 million to $160 million a year earlier than planned in FY 2025. This will be a big jump from FY 2022âs revenue of $78.3 million.
In light of this strong growth potential, Goldman Sachs has put a buy rating and $4.30 price target on its shares.
Xero Limited (ASX: XRO)
Another ASX tech that Goldman Sachs rates as a buy right now is Xero.
It is a cloud-based accounting platform provider to small and medium sized businesses globally.
Thanks to the popularity of its offering, the stickiness of its platform, and its global expansion, Xero has been growing its top line and subscriber numbers at a strong rate for years.
The good news is that Goldman notes that even with 3.3 million subscribers, it is still only scratching at the surface of its globally market opportunity. It is partly because of this “compelling global growth story” that Xero is the broker’s “preferred large cap technology name in ANZ.”
Goldman Sachs currently has a buy rating and $111.00 price target on Xeroâs shares.
The post Goldman Sachs names 2 quality ASX tech shares to buy right now appeared first on The Motley Fool Australia.
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More reading
- These 3 ASX shares have halved this year. I’d buy 2 of them: advisor
- The Xero share price just hit a new 52-week low. Is it time to buy?
- Here are 3 top ASX growth shares that analysts rate as buys
- What’s the outlook for ASX 200 tech shares in the second quarter?
- Could ASX 200 shares represent a ‘phenomenal opportunity’ right now?
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 positions in and has recommended Readytech Holdings Ltd and Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended Readytech Holdings 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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