Those invested in Domino’s Pizza Enterprises Ltd (ASX: DMP) shares might be surprised to hear of the S&P/ASX 200 Index (ASX: XJO) pizza giant’s latest foray. It’s taking on a new market with a trademark spin, promising burgers “made to be delivered”.

But, while the pizza favourite is spruiking a new foray, it’s not far from the company’s stomping ground. Let’s take a closer look.

The Domino’s share price closed Monday’s session at $71.02.

Domino’s ‘bites’ into burgers designed to be delivered

The ASX 200 pizza mogul is taking a slice of the burger market, but its share will retain a definite Domino’s-style spin.

“No more soggy bread rolls and limp lettuce,” promises Domino’s ANX CEO David Burness. “Domino’s is bringing home the burger – on a pizza!”

The news comes as those invested in Domino’s shares await the release of the company’s financial year 2022 earnings, set to drop on 24 August.

The company’s after tax profit slumped 5.3% in the first half, as my Fool colleague Tony reported in February.

It also noted its same store sales growth was expected to miss its long-term target range in the second half.

The shiny new marketing campaign accompanying the burger-style offerings targets what Burness dubs “the delivery generation”.

It was put together by creative agency It’s Friday – which launched in January and boasted the company as a founding client.

Domino’s culinary innovation and development chef Michael Treacy commented on the new offerings, saying:

We live in the golden age of delivery and burgers have yet to ‘ketchup’ … they were simply never designed to be delivered.

What makes our Burger Joint pizzas so incredible is that our premium ingredients were carefully chosen for maximum burger goodness, while ensuring they could be delivered …  just like a Domino’s pizza.

The range – made up of four menu items – dropped in Australia on Monday.

Domino’s share price snapshot

It’s been a rough year so far for the Domino’s share price.

It has slumped 42% since the start of 2022. For comparison, the broader ASX 200 has dumped 7.5% year to date.

Though, it’s still trading higher than it was before the COVID-19 pandemic took hold in 2020.

The post Own Domino’s shares? The ASX 200 pizza giant is biting into a new market appeared first on The Motley Fool Australia.

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More reading

• 2 excellent ASX growth shares to buy – experts
• Experts name 2 beaten down ASX shares that could be going cheap
• Top brokers say Domino’s share price has loads of extra topping in it, here’s why
• Top brokers name 3 ASX shares to buy today
• Why is the Domino’s share price struggling on Monday?

Motley Fool contributor Brooke Cooper 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 Scott Phillips.

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Income investors that are looking for dividend options this week might want to check out the two ASX shares listed below.

Both of these ASX dividend shares have recently been tipped as buys by brokers. Here’s why they are bullish:

Coles Group Ltd (ASX: COL)

The first ASX dividend share that brokers rate as a buy is Coles.

It is of course one of Australia’s big two supermarket operators with over 800 stores around the country. In addition, the company operates a similar number of liquor and express stores.

The team at Citi is very positive on the company. Last week its analysts retained their buy rating and lifted their price target on the company’s shares to $21.00. The broker expects Coles’ sales to be boosted in FY 2023 from rising inflation.

In light of this, Citi is now forecasting fully franked dividends per share of 65 cents in FY 2022 and 75 cents in FY 2023. Based on the current Coles share price of $18.78, this will mean yields of 3.5% and 4%, respectively.

HomeCo Daily Needs REIT (ASX: HDN)

Another ASX dividend share that brokers rate highly is HomeCo Daily Needs REIT.

It is a property company with a focus on convenience-based assets including neighbourhood retail and retail parks.

The team at Goldman Sachs is very positive on the company’s outlook. Its analysts believe HomeCo Daily Needs is well-placed for growth over the medium term thanks to the shift to omni channel retailing and its diversified tenant base.

In light of this, the broker has put a buy rating and $1.65 price target on the company’s shares.

As for dividends, Goldman is forecasting dividends per share of 8 cents in FY 2022 and then 9 cents in FY 2023. Based on the current HomeCo Daily Needs share price of $1.34, this will mean yields of 6% and 6.7%, respectively.

The post Brokers name 2 ASX dividend shares to buy appeared first on The Motley Fool Australia.

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More reading

• 2 little-to-no-debt ASX 200 shares to buy in a downturn: fundie
• Is Coles an underrated ASX 200 dividend share with potential?
• Top brokers name 3 ASX shares to buy next week
• Why has the Coles share price outperformed the ASX 200 by more than 10% in 2022 so far?
• Experts name 2 quality ASX dividend shares to buy with 5%+ yields

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 positions in and has recommended COLESGROUP DEF SET. 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 Telstra Corporation Ltd (ASX: TLS) share price is now attractive, according to fund manager Geoff Wilson from Wilson Asset Management. And the business could soon start generating growth.

Despite a big recovery since October 2020 – the Telstra share price is up around 50% since 30 October 2020 – it’s still slightly lower than where it was five years ago.

The telco has been suffering from a steady shift in households moving onto the NBN. Telstra used to own the infrastructure, so it used to make a much bigger profit margin on each connection. Now it has to compete with every other telco on a level playing field.

However, with economic uncertainty rising due to higher inflation and interest rates, some investors are worried about a potential recession.

But, there is the thought that a telecommunications business could be reliable during a period of economic uncertainty.

What’s attractive about Telstra shares?

Wilson explained to Livewire Markets:

After a decade of no growth in mobile – its major segment – it is seeing growth and mobile will be the last to disconnect in a recession. Mobile use is the new recession-proof. It wouldn’t have been on my radar previously.

I don’t know about you, but I’d agree with that – I’d keep paying for my phone data over most other things in my budget.

In the FY22 half-year result, Telstra CEO Andy Penn explained how the company had been winning in the mobile space:

Our continued focus on mobile network leadership and building value resulted in 5% post-paid handheld average revenue per user (ARPU) growth, 6.3% mobile services revenue growth and $392 million mobile earnings before interest, tax, depreciation and amortisation (EBITDA) growth.

We added 84,000 net retail post-paid mobile services including 62,000 branded with a strong contribution from enterprise. Our branded performance reinforces the benefits of our clear leadership in 5G.

Telstra may be able to increase its ARPU further as it increases prices for users by CPI inflation. Prices could see an annual review.

Lower share prices could be a good thing

Wilson’s comments were about how Telstra could do well during a recession. However, he wasn’t necessarily negative about the widespread lower share prices we are seeing.

He said to Livewire:

You want markets to fall because it allows you to buy fantastic companies cheaply. Find high quality franchises and buy them when they are undervalued.

How much will Telstra earnings grow in the next few years?

According to CMC markets, the telco is expected to generate 13.8 cents of earnings per share (EPS) in FY22. Then, in FY23, EPS is expected to grow to 16.7 cents per share. Finally, in FY24, Telstra is predicted to generate EPS of 18.2 cents.

Telstra share price snapshot

Since the beginning of 2022, the Telstra share price has fallen by 5%.

The post ‘Wouldn’t have been on my radar previously’: Why WAM likes Telstra shares right now appeared first on The Motley Fool Australia.

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More reading

• Looking to buy Telstra shares? Here’s what to watch when the telco giant reports this week
• Own Telstra shares? Here’s what to expect from its FY22 results
• Road to retribution: Can the Telstra share price continue its upwards trajectory under a new CEO?
• Expert says Telstra is a blue chip ASX 200 share to buy
• ‘Competition is key’: Why Telstra shares are in the ACCC naughty corner today

Motley Fool contributor Tristan Harrison 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 positions in and has recommended Telstra Corporation Limited. 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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Shares in Rio Tinto Limited (ASX: RIO) have travelled sideways since the company delivered its half-year results and declared its interim dividend on 27 July.

After the miner registered a mixed financial scorecard for H1 FY22, the Rio Tinto share price has persisted below the psychological $100 barrier.

At Monday’s market close, the mining giant’s shares finished 1.87% higher to $99.57 per share. That means it’s relatively flat compared to the $98.96 recorded before the release of the company’s results.

In contrast, the S&P/ASX 200 Resources Index (ASX: XJR) has climbed 5.5% over the same two-week period.

Rio Tinto shares gear up to trade ex-dividend

Despite investor confidence recently growing in the market, the Rio Tinto share price has failed to gain traction.

It appears that the slump in the price of iron ore is putting selling pressure on companies that derive a large part of their revenue from the steel-making ingredient.

However, there could be a short-term lift on the horizon as Rio Tinto shares will trade ex-dividend on Thursday.

This means you’ll need to buy the miner’s shares before the market close tomorrow to be eligible for the dividend.

Historically, when a company reaches its ex-dividend day, its shares tend to fall after shareholders lock in the latest dividend.

When is payday for Rio shareholders?

For those who secure the Rio Tinto dividend, you’ll receive a payment of $3.837 per share on 22 September.

While the dividend is 52% lower than the previous corresponding period, management said the market environment has become more challenging lately.

Nonetheless, the Rio Tinto interim dividend is the second highest ever, worth $4.3 billion. It represents 50% of the company’s underlying earnings.

The dividend is also fully franked.

Franking credits, otherwise known as imputation credits, are highly regarded in the investing world. This is a type of tax credit that is passed onto shareholders when dividend payments are made by a company.

In addition, investors can elect to participate in Rio Tinto’s dividend reinvestment plan (DRP). The DRP will add a portion of shares to their portfolio instead of them receiving their dividends as cash.

There is no DRP discount rate and the last election date for shareholders to opt-in is 1 September.

Rio Tinto share price snapshot

In 2022, the Rio Tinto share price has remained flat following tough macroenvironmental conditions in the past few months.

The company’s shares reached a year-to-date low of $91.91 on 15 July, before treading higher in the following weeks.

Rio Tinto commands a market capitalisation of roughly $36.28 billion and has an attractive dividend yield of 11.12%.

The post Time is running out to secure the Rio Tinto dividend. Here’s what you need to do appeared first on The Motley Fool Australia.

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More reading

• The iron ore price has slumped 10% in 5 days. Here’s how ASX 200 mining shares have responded.
• ‘The world is changing’: CEO reveals what will help drive Rio Tinto shares in 2023 and beyond 
• ‘We are in for the long haul’: Rio Tinto CEO defends future spending in the face of recession fears
• Which ASX 200 shares will prove to be dividend heavyweights this earnings season?
• ‘Unlocks hidden value’: Rio Tinto share price slides despite $525 million payday

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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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.

What happened 

The stock of Tesla (NASDAQ: TSLA) jumped today after Canaccord analyst George Gianarikas raised his price target for the electric vehicle company’s shares and after the Senate passed the Inflation Reduction Act, which could give some electric vehicle (EV) sales a boost.

The EV stock jumped by 3.7% as of 1:22 p.m. ET on Monday

So what

Gianarikas raised his price target for Tesla’s shares to $881, up from his previous price target of $815, and kept a buy rating on the stock today. 

The analyst believes that Tesla has a built-in advantage over other EV makers because of the company’s lead in manufacturing, its ability to procure EV materials, as well as its autonomous vehicle technology, according to TheFly.com. 

Gianarikas acknowledged that there are concerns for the EV industry right now, but he believes that Tesla’s current position, along with the company’s moves into energy storage and solar, will help keep it ahead of its competition.

Investors were also optimistic about Tesla today after the Senate passed the Inflation Reduction Act yesterday. Among other things, the legislation extends federal tax credits of $7,500 for EVs and removes the previous tax credit cap when an automaker reaches 200,000 EVs sold. 

The bill also adds a new tax credit of $4,000 for consumers who buy a used electric vehicle. 

While not all of Tesla’s vehicles will qualify for the credit (some are too expensive), it’s possible that some consumers could still benefit when buying the company’s lower-priced models.

Now what 

Today’s gains add to Tesla’s recent share price trajectory; they have risen 22% over the past month. 

While Tesla investors no doubt are celebrating these gains, they should also keep a close eye on any new data about rising inflation, a slowing economy, or an increase in EV materials costs, all of which could hurt consumer demand. 

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

The post Here’s why Tesla stock popped today appeared first on The Motley Fool Australia.

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More reading

• Think you can’t afford to buy Tesla shares? Think again…
• Why Tesla and other EV stocks rocketed higher in July
• Why Tesla shares bounced ahead of its stock-split vote
• Why the Tesla share price jumped on Monday
• Tesla Q2 earnings call: 3 must-see quotes from Elon Musk

Chris Neiger 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 Tesla. 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.

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

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Thanks to exceptionally strong coal prices, Whitehaven Coal Ltd (ASX: WHC) shares have been tipped to pay some big dividends in the near term,

But how big will the Whitehaven Coal dividend be? Let’s take a look at what Goldman Sachs is expecting from the coal miner through to FY 2024.

Where is the Whitehaven Coal dividend heading?

Firstly, let’s start with the Whitehaven Coal dividend in FY 2021. Well, actually we can’t, because there wasn’t one.

Due to the company posting a net loss after tax before significant items of $87.3 million, the board determined that a dividend would not be paid.

But what a difference a year makes. Thanks to sky high coal prices, Goldman Sachs is expecting the company to pay a dividend of 47 cents per share in FY 2022. Based on the current Whitehaven Coal share price of $6.04, this will mean a dividend yield of 7.8% for investors.

Though, it is worth noting that this is below the consensus estimate of 63 cents per share, which would mean an even more attractive yield of 10.4%.

What’s next?

The good news is that the Whitehaven Coal dividend is expected to increase again in FY 2023. Goldman is forecasting dividends per share of 84 cents and the consensus estimate is for 120 cents.

This would mean yields of 13.9% or 20%, respectively, for investors in FY 2023.

After which, both Goldman and the market are expecting the company’s dividend to ease back to 67 cents per share and 60 cents per share, respectively, in FY 2024. This will mean yields of 11.1% or 9.9% for that financial year.

Goldman’s forecasts are based on the thermal coal price averaging US$293 per tonne in FY 2022, US$200 per tonne in FY 2023, and US$120 per tonne in FY 2024.

Is the Whitehaven Coal share price good value?

As well as forecasting bumper dividends, the broker sees plenty of value in the Whitehaven Coal share price.

This morning Goldman Sachs has reiterated its buy rating with a trimmed price target of $6.80. This implies potential upside of almost 13% for investors over the next 12 months.

The post Here’s the Whitehaven Coal dividend forecast through to 2024 appeared first on The Motley Fool Australia.

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More reading

• Clearly this is one of the cheapest ASX 200 stocks
• Why did the Whitehaven share price surge 28% in July?
• Here are the top 10 ASX 200 shares today
• How long can ASX coal shares keep this rally up?
• Why is Whitehaven share price climbing 5% today?

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 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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All eyes will be on the National Australia Bank Ltd (ASX: NAB) share price on Tuesday.

This follows the release of the banking giant’s third quarter update this morning.

NAB share price on watch after reporting $1.8bn cash profit

• Unaudited statutory net profit of $1.85 billion
• Cash earnings up 6% over the prior corresponding period to $1.8 billion
• CET1 ratio of 11.6%
• Net interest margin slightly lower compared to first half average
• Cost growth guidance increased to 3% to 4%

What happened during the quarter?

For the three months ended 30 June, NAB reported a 6% increase in cash earnings over the prior corresponding period to $1.8 billion.

This was also a 3% lift over the quarterly average during the first half of FY 2022 including the Citi acquisition. This was driven by a 2% increase in revenue thanks to higher volumes.

NAB’s expenses increased 1% compared to the first half average. This was due to additional full time equivalent hours to support its growth, partly offset by productivity.

Disappointingly, but perhaps not surprisingly, management has revised its FY 2022 cost growth guidance again. It now expects cost growth to be approximately 3% to 4%, which includes a top-up to payroll and customer-related remediation provisions of $60 million to $100 million for existing matters.

This compares to its most recent guidance of 2% to 3%, which was increased from “broadly flat” at the start of the financial year.

How does this compare to expectations?

The good news for the NAB share price is that this update appears to be in line with expectations.

For example, the team at Morgan Stanley were expecting the bank to report a quarterly cash profit of $1.8 billion.

Though, the big question will be how the market reacts to NAB’s cost growth revision.

Management commentary

NAB’s CEO, Ross McEwan, was pleased with the quarter. He commented:

Our performance this quarter is pleasing, highlighting the ongoing execution of our strategy including completing the acquisition of Citigroup’s Australian consumer business (Citi acquisition). Cash earnings in 3Q22 rose 3% compared with the 1H22 quarterly average, and lending and deposit momentum continued (up 2% and 4% respectively over the June quarter excluding the Citi acquisition)

McEwan also revealed that the bank’s loan book remains in a very healthy state despite rising rates and higher inflation. He explained:

As the economy changes, continued low unemployment and healthy household and business balance sheets are helping mitigate the impacts of higher inflation and higher interest rates. The majority of our customers are well placed to manage these challenges, including approximately 70% of customer home loan repayments ahead of schedule. For those customers who need our support, we have a range of options available.

Finally, the CEO appears optimistic on the future thanks to the bank’s strategy.

We have a clear strategy and executing this with discipline is our key priority. We will continue to focus on getting the basics right, managing our bank safely and improving customer and colleague outcomes to deliver sustainable growth and improved shareholder returns.

The post NAB share price in focus following $1.8bn Q3 cash profit and cost growth revision appeared first on The Motley Fool Australia.

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• 5 things to watch on the ASX 200 on Tuesday
• Here is the RBA interest rate outlook according to ASX 200 banks
• Is the NAB share price a buy ahead of next week’s quarterly update?
• How are ASX 200 bank shares responding to the RBA rate increase?
• ‘The great reallocation’: The $4 trillion financing opportunity in front of NAB

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 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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Shares in S&P/ASX 200 Index (ASX: XJO) mineral explorer Chalice Mining Ltd (ASX: CHN) have been on a roll over the last month.

The Chalice Mining share price has gained 32.72% in that time to close Monday’s session at $5.07.

For comparison, the ASX 200 has lifted 6% over the last 30 days.

So, what’s been driving the materials giant’s stock higher lately? Let’s take a look.

Plenty of positive news

The Chalice Mining share price has been rocketing higher recently on the back of multiple exciting releases.

Just over a month ago, the company announced it had uncovered a new nickel-copper-platinum group elements sulphide zone at its Julimar Project in Western Australia. The find marked the first significant sign of orthomagmatic sulphide outside the project’s Gonneville Deposit.

Chalice Mining updated its mineral resource estimate for the Gonneville Deposit on 8 July. Around 70% of the deposit’s resource is now marked as ‘indicated’ – up from about 45%. That brought a significant boost in geological confidence.

Additionally, the company advised drilling and remodelling resulted in an approximate 5% increase in the deposit’s resource mass and contained nickel equivalent metal.

There has also been recent news of an entirely different project. Chalice Mining received a 51% stake in Venture Minerals Ltd (ASX: VMS) ‘s South West Project in mid-July before committing to the second stage of the companies’ joint venture last week.

That could see the ASX 200 company’s stake upped to 70% in return for spending $2.5 million on exploration activities. Such activities will follow up on recently identified nickel and copper targets.

But the Chalice Mining share price’s most significant gain over the last 30 days came from the company’s quarterly results. The stock leapt 8% when the company dropped its earnings report for the three months ended 30 June.

Chalice Mining share price snapshot

However, its recent gains haven’t been enough to boost the stock back into the longer-term green.

The Chalice Mining share price is still 43% lower than at the start of 2022. It’s also fallen 25% since this time last year.

The post Why has the Chalice Mining share price rocketed 33% in a month? appeared first on The Motley Fool Australia.

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• Here are the top 10 ASX 200 shares today
• What’s driving the Chalice Mining share price on Tuesday?
• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX shares today
• These ASX 200 mining shares are getting buried. What’s happening?

Motley Fool contributor Brooke Cooper 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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On Monday, the OZ Minerals Limited (ASX: OZL) share price was the star of the show.

The copper miner’s shares rocketed 35% higher to end the day at $25.59.

Why did the OZ Minerals share price rocket higher?

Investors were bidding the OZ Minerals share price higher after the company confirmed that it had received and rejected a non-binding takeover approach from BHP Group Ltd (ASX: BHP).

The Big Australian tabled an offer of $25.00 per share, which BHP’s CEO, Mike Henry, described as representing “compelling value and certainty” for shareholders.

However, the OZ Minerals board didn’t see things the same way. They rejected the offer on the belief that it “significantly undervalues OZ Minerals.”

What’s next?

Well, the good news for shareholders is that one leading broker believes that OZ Minerals is “still in play.”

According to a note out of Bell Potter, its analysts believe that an improved offer could be on the way from BHP or even from a second suitor. It commented:

In our view this puts OZL completely in play and, with an open register dominated by non-strategic institutional investors, we believe the chances of completion of the acquisition of OZL are high. We also believe this will be seen as an initial offer from BHP and that institutions will want to be compensated for the lack of large-cap investable copper producer options on the ASX.

In the first instance, we expect a higher cash bid from BHP as the deal makes strategic sense and offers production growth in a secure jurisdiction. We also believe the scarcity of comparable assets in comparable jurisdictions makes the chances of a competing counter-offer reasonable.

However, despite the potential for an improved bid, the broker has downgraded OZ Minerals’ shares to a hold rating with a $25.00 price target. It concludes:

[T]he risk-adjusted potential upside is insufficient for us to maintain a Buy rating and we downgrade to Hold, with a strategy to see through to completion of an all-cash acquisition of OZL by BHP or a competing bidder at the current offer price or higher.

The post OZ Minerals ‘completely in play’: Broker on BHP takeover bid appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Tuesday
• Here are the top 10 ASX 200 shares today
• Why Appen, Imugene, OZ Minerals, and Paradigm shares are charging higher
• ASX copper shares explode by up to 34% following BHP takeover bid
• Why is the Copper Mountain share price surging 30% on Monday?

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 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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With the tech sector still down materially since the start of the year, now could be an opportune time to consider an investment.

But which tech shares should you buy? Two highly rated ASX tech shares that Bell Potter has named as buys are listed below. Here’s what you need to know about them:

Life360 Inc (ASX: 360)

The first ASX tech share to look at is Life360. It is the company behind the world’s leading real time, location-sharing app which is used by over 30 million users.

Bell Potter likes the company due to its huge total addressable market and material cross selling opportunities. The broker is also expecting its strong growth to continue in FY 2022. It recently commented:

We expect the core business of Life360 to have another strong quarter in 2Q2022 even though Q2 is traditionally not a strong quarter for the company. We for instance forecast global paying circles and AMR (excl. Jiobit and Tile) increase 40% and 46% y-o-y in Q2 which is not dissimilar to the growth rates achieved in each of the last three quarters. These forecasts are supported by the strong data for April provided at the AGM, the continued strong revenue/store/download data for the app in the US and also the good momentum in the business.

And while Life360 isn’t yet profitable, Bell Potter highlights that the company is “expected to be operating cash flow positive from 4Q2023 and has more than sufficient cash to fund its operations till then.”

Bell Potter has a buy rating and $7.50 price target on the company’s shares.

TechnologyOne Ltd (ASX: TNE)

Another ASX tech share that could be in the buy zone is TechnologyOne.

Bell Potter is very positive on the enterprise software provider due to its shift to a software as a service (SaaS) business model. Its analysts expect this to underpin stronger margins and stellar earnings growth in the coming years.

The broker explained:

The migration [to a fully integrated SaaS solution] is now around three quarters complete and Technology One is starting to reap the benefits of greater recurring revenue and a higher margin. This combination will in our view drive double digit earnings growth for years to come and, as the migration of customers approaches 100%, we expect the multiple to rerate to that of a pure SaaS company.

Last week, Bell Potter retained its buy rating and lifted its price target on the company’s shares to $14.25.

The post Here are 2 excellent ASX tech shares a top broker says are buys appeared first on The Motley Fool Australia.

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More reading

• These 3 ASX tech shares had a cracking day on the ASX today
• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today
• Broker tips TechnologyOne share price to shoot 15% higher
• 5 things to watch on the ASX 200 on Thursday

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 Life360, Inc. The Motley Fool Australia has recommended TechnologyOne Limited. 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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