Our market is expected to open on a positive foot on Tuesday and Morgans is recommending these ASX shares to buy if you want to make the most of the next leg in the market rally.

The futures market is tipping a more than 1% gain for the S&P/ASX 200 Index (Index:^AXJO) cum Tuesday after Wall Street hit another record high.

Don’t be put off by high valuations. Morgans is urging investors to maintain an overweight position on equities.

Best ASX investment strategy

The global roll-out of COVID-19 vaccinations paint a bright picture for risk assets. The broker is pro-risk for the next six to 12 months.

“Ultimately, we think investors need to be nimble across multiple themes (value, growth, yield, commodities, tech) as a bumpy road to recovery is likely to see valuations move through over-valued and under-valued territory,” said Morgans.

“Equity investors need to consistently review their exposures, and to not be afraid to re-cycle profits into relative cheaper opportunities which we are finding are regularly presenting in the current climate.”

ASX financial shares to bank on

The broker believes that ASX domestic cyclical shares and those most beaten down by the pandemic represent the best opportunity.

One such group is banks and financials. ASX shares that Morgans believes are worth buying include the Westpac Banking Corp (ASX: WBC) share price and Macquarie Group Ltd (ASX: MQG) share price.

Why you should buy ASX commodity shares

Resources and agriculture shares are also favoured by the broker. Morgans is bullish about commodities due to improving demand, supply-side constraints, inflation worries and expected weakness in the US dollar.

This explains why the BHP Group Ltd (ASX: BHP) share price, Santos Ltd (ASX: STO) share price and Nufarm Ltd (ASX: NUF) share price as also on its buy list.

“Our Best ideas profile several domestic cyclicals and small caps supported by their lower relative valuations and leverage to domestic activity,” added the broker.

Other ASX shares on the buy list

The shares to target here are the People Infrastructure Ltd (ASX: PPE) share price, Corporate Travel Management Ltd (ASX: CTD) share price and Sydney Airport Holdings Pty Ltd (ASX: SYD) share price.

Finally, another thematic to watch is market volatility. The broker noted that some “high-quality names” have been sold-off recently and the dip represents a buying opportunity as well.

Some examples are the CSL Limited (ASX: CSL) share price, Magellan Financial Group Ltd (ASX: MFG) share price and Nextdc Ltd (ASX: NXT) share price.

Who said the ASX lacked buying opportunities?

More reading

• 2 blue chip ASX dividend shares you can buy in April
• These were the worst performing ASX 200 shares last week
• These were the best performing ASX 200 shares last week
• Brokers name 3 ASX shares to buy right now
• 5 of the best ASX shares to buy after the Easter break

Brendon Lau owns shares of BHP Billiton Limited, CSL Ltd., Macquarie Group Limited, Nufarm Limited, Santos Limited, and Westpac Banking. Connect with me on Twitter @brenlau.

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. and People Infrastructure Ltd. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited and Macquarie Group Limited. The Motley Fool Australia has recommended People Infrastructure Ltd. 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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Are you looking to make some additions to your portfolio in April? If you are, the three ASX shares listed below could be great options.

They have been tipped as shares that could generate strong returns for investors in the future. Here’s why they could be five-star stocks:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The first five-star stock to look at is Domino’s. This pizza chain operator could be a good option due to its strong market position and bold growth targets. At the end of the first half of FY 2021, Domino’s had a network of 2,800 stores. This was up 5% from 2,668 stores at the end of FY 2020. Positively, the company still sees significant room for growth over the next decade. In fact, management expects to almost double its network to 5,500 stores by 2033. At the same time, Domino’s is targeting consistently solid organic same store sales growth. If it delivers on these targets, it should result in strong top line growth over the next decade.

Morgans is a fan of the company and has an add rating and $119.00 price target on its shares.

REA Group Limited (ASX: REA)

Another five-star stock to consider buying is REA Group. It is the digital advertising company that operates Australia’s leading property website, realestate.com.au. It also operates a number of complementary websites in the Australian market and internationally. Although market conditions were tough over the last few years, the resilience of its business model allowed REA Group to continue its growth. Pleasingly, with the housing market now booming, demand for listings looks set to increase materially. Combined with new revenue streams and its good cost control, REA Group appears well-placed to accelerate its growth.

One broker that rates REA Group highly is Macquarie. It is very positive on the company’s outlook and has an outperform rating and $171.70 price target on its shares.

ResMed Inc. (ASX: RMD)

A final five-star share to buy is ResMed. This sleep treatment-focused medical device company could be a great long term option due to the quality of its masks and software-as-a-service solution and their growing addressable market. In respect to the latter, demand for its offering looks set to grow in the future as the number of people diagnosed with sleep disorders increases. For example, management estimates that there could be upwards of 1 in 7 people impacted by sleep apnoea, with the vast majority of them undiagnosed. This potentially provides ResMed with a significant runway for growth over the next decade. 

Credit Suisse is bullish on the company. It currently has an outperform rating and $29.50 price target on ResMed’s shares.

More reading

• 5 of the best ASX shares to buy after the Easter break
• 2 ASX growth shares to buy in April
• What brokers think of REA (ASX:REA) share price following acquisition
• Over 1 in 4 Australians are investing in the ASX: report
• 3 of the best ASX shares to buy in April

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited, REA Group Limited, and ResMed Inc. 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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With interest rates unlikely to be going higher in the near future, ASX dividend shares look set to remain the best place to earn a passive income.

But which ASX dividend shares should you buy? Two blue chips that are highly rated are listed below:

BHP Group Ltd (ASX: BHP)

The first ASX dividend share to consider is BHP. This mining giant is expected to generate significant free cash flow in the near term thanks to very favourable commodity prices.

For example, due to sky high iron ore and copper prices, during the first half of FY 2021, the Big Australian reported a 15% increase in revenue to US$25.64 billion and a 21% jump in underlying EBITDA to US$14.7 billion. This led to BHP generating US$5.2 billion of free cash flow, with the vast majority of it returning to shareholders through dividends.

Goldman Sachs expects more of the same in the second half and into next year. As a result, it is forecasting dividends of $2.31 per share in FY 2021 and $2.13 per share in FY 2022.

Based on the current BHP share price of $45.65, this equates to fully franked 5.1% and 4.7% dividend yields. Goldman has a buy rating and $53.40 price target on its shares.

Westpac Banking Corp (ASX: WBC)

Another ASX dividend share to consider is Westpac. Like BHP, Westpac has been performing strongly so far in FY 2021.

In February the bank released its first quarter update and reported a $1.97 billion first quarter cash profit. This was more than double the average quarterly cash profit it recorded during the second half of FY 2020.

But perhaps the most positive aspect of its result was the reversing of provisions. With the Australian economy faring materially better than expected during the pandemic, Australia’s oldest bank reversed ~$500 million of COVID-19 related impairments.

This leaves the bank in a very strong position financially. So much so, some analysts are tipping Westpac to launch capital initiatives such as a share buyback program in FY 2022.

One broker that believes the Westpac share price is in the buy zone is Morgans. It currently has an add rating and $27.50 price target on the bank’s shares.

The broker is also forecasting dividends of $1.32 per share in FY 2021 and then $1.43 per share in FY 2022. Based on the latest Westpac share price of $24.54, this will mean fully franked yields of 5.4% and 5.8%.

More reading

• Brokers name 3 ASX shares to buy right now
• 2 ASX dividend shares to buy this April
• Commonwealth Bank (ASX:CBA) share price and weekly news wrap
• ASX 200 boom as Joe Biden unveils massive infrastructure, tax package?
• Why the BHP (ASX:BHP) share price fell 9.5% in March 

Motley Fool contributor James Mickleboro owns shares of Westpac Banking. 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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If you’re a fan of growth shares, then I have good news for you. The Australian share market is home to a good number of companies growing their earnings at a quick rate.

Two ASX growth shares that could be worth a closer look are listed below. Here’s what you need to know about them:

Kogan.com Ltd (ASX: KGN)

The first ASX growth to look at is Kogan. This leading ecommerce company has been growing at a rapid rate in FY 2021 thanks to the accelerating shift to online shopping. And while the rate that it is growing at will inevitably moderate in the near future, its long term outlook remains very positive.

This is thanks to the structural shift online, its growing customer base, acquisitions and expansions, and increasing Exclusive Brands sales. Credit Suisse is very positive on the company. Its analysts currently have an outperform rating and $20.85 price target on its shares. This compares to the current Kogan share price of $12.47.

Pro Medicus Limited (ASX: PME)

Another growth share to look at is Pro Medicus. It is a leading provider of radiology information systems (RIS), Picture Archiving and Communication Systems (PACS), and advanced visualisation solutions. The company notes that it provides products and services that combine speed, scalability, stability, and smarts. This is to help eliminate administrative tasks and workarounds, optimise the efficiency of clinical and administrative staff, and maximise profits.

Pro Medicus has been growing its earnings at a rapid rate over the last decade. And thanks to increasing demand for its technology from some of the biggest healthcare institutions in the world, it appears well-placed to continue this positive form for the foreseeable future. Goldman Sachs is a fan of the company and recently upgraded Pro Medicus’ shares to a buy rating with a $53.80 price target. The Pro Medicus share price last traded at $43.29.

More reading

• 3 outstanding ASX shares to buy and hold
• These were the worst performing ASX 200 shares in the Q1 of 2021
• Here’s why the Pro Medicus (ASX:PME) share price is charging higher
• These were the worst performing ASX 200 shares in March
• 2 exciting ASX growth shares to buy next month

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Pro Medicus Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd. The Motley Fool Australia has recommended Kogan.com ltd and Pro Medicus Ltd. 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 Risks to Australia of a 3°C Warmer World report from the Australian Academy of Science found reaching net zero emissions by 2050 is crucial to avoiding massive challenges to Australia’s way of life.

It states that even if Australia becomes carbon neutral, the globe will probably reach average global surface temperatures of 3^oC more than the pre-industrial period. Additionally, it is believed that this will occur by 2100. It’s crucial that ASX listed companies aim for net-zero emissions and get onboard the carbon revolution. This commitment will help avoid massive challenges for Australia’s cities. Additionally, it would help protect the environment and industries, as well as our food and health systems.

The report was also optimistic that Australia can well and truly rise to meet this challenge. We have a skilled workforce, robust industries and tonnes of renewable energy resources.

We’ve had a look around for ASX listed environmentally friendly companies with aims to be carbon neutral.

Here are 3 companies proving it’s possible to reach net-zero emissions

Vulcan Energy Resources Ltd (ASX: VUL)

Vulcan Energy is working towards becoming the world’s first zero-carbon lithium producer for electric vehicle batteries. It plans on doing so by using geothermal energy to drive lithium production. In this process, there is no need for evaporation, mining or fossil fuels.

Vulcan has a brine lithium resource, located in Germany. The company says it has enough lithium to power Europe’s lithium needs for years to come.

First ever comprehensive #NetZeroBy2050 plan for global energy sector coming in May. @VulcanEnergyRes & our #ZeroCarbon #Lithium project will be there every step of the way with baseload #renewable heat & power #ClimateAction #renewableenergy #COP26 @IEA https://t.co/p1iPMcdtB0 pic.twitter.com/s0GOQqjRGB

— Vulcan Zero Carbon Lithium® (@VulcanEnergyRes) March 29, 2021

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Mercury NZ Ltd (ASX: MCY)

Mercury is a New Zealand energy provider leading the way in renewable power. It generates electricity from hydro, solar, wind, and geothermal methods. It also provides customers with natural gas.

The company has committed to converting its entire vehicle fleet to electric powered vehicles. So far, its converted more than 69% of its fleet.

Mercury has submitted its information to the CDP (formerly the Carbon Disclosure Project). Additionally, it has received an A- for its climate-friendly initiatives. This puts them in the top 5 companies in New Zealand.

Happy World Rivers Day to the Waikato River. The mighty source of life and energy for thousands of Kiwis and the backbone of our 100% renewable generation. pic.twitter.com/sfqt56kOYH

— Mercury (@MercuryNZ) September 23, 2020

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Australian Mines Ltd (ASX: AUZ)

Australian Mines’ proposed Sconi Project, to be located in Queensland, is set to mine cobalt and nickel sulphate. It aims to supply its minerals for the electric vehicle market. It is to mine and process ore into battery precursor material on site, thus making it a low-cost operation.

Australian Mines was the first mineral resources company in Australia to be certified carbon neutral. The company employs energy-saving initiatives alongside offsetting any unavoidable emissions.

Australian Mines says it has become the first mineral resources company to be certified a “Carbon Neutral Organisation” under the Australian Government’s Climate Active program | https://t.co/8JClT3PgzT #AustralianMines #Sconi @climate_active #CarbonNeutralMining #futureofmining pic.twitter.com/8NX6xJgbeg

— International Mining (@im_mining) August 19, 2020

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More reading

• Why green bonds are raising the Mercury (ASX:MCY) share price
• 3 attractive ASX shares currently in a dip
• Why Kathmandu, Pushpay, Sigma, & Vulcan shares are storming higher
• Why the Vulcan Energy (ASX:VUL) share price is charging 9% higher
• Why the Mercury (ASX:MCY) share price is surging today

Motley Fool contributor Brooke Cooper 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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Last week the S&P/ASX 200 Index (ASX: XJO) bounced back from a poor start to end the period flat at 6,828.7 points

Acting as a drag on proceedings last week were the shares listed below. Here’s why they were the worst performers on the ASX 200:

Webjet Limited (ASX: WEB)

The Webjet share price was the worst performer on the ASX 200 last week with a 7.9% decline. The online travel agent’s shares came under pressure after the announcement of a convertible note offering to raise $250 million. The net proceeds from the offering will be used to repay $43 million of Webjet’s existing term debt, fund potential acquisitions, and for capital management or general corporate purposes. Investors appear disappointed that the company is raising funds and diluting them again.

Gold Road Resources Ltd (ASX: GOR)

The Gold Road share price was out of form and sank 7.8% over the four days. This was despite there being no news out of the gold miner. However, weakness in the gold price could’ve been partly to blame for this. At one stage last week, the price of the precious metal dropped to a three-week low.

Eagers Automotive Ltd (ASX: APE)

The Eagers Automotive share price wasn’t far behind with a decline of 7.75% last week. Some of this decline is attributable to the auto retailer’s shares going ex-dividend on Wednesday. Eligible Eagers Automotive shareholders can now look forward to receiving its 25 cents per share final dividend later this month on 20 April.

Inghams Group Ltd (ASX: ING)

The Inghams share price was a poor performer and fell 6.7% over the period. Investors were selling this poultry company’s shares after it announced the sudden exit of its CEO, Jim Leighton. According to the release, Mr Leighton is leaving the CEO role to return to the United States due to personal reasons. He will be placed by non-executive director, Andrew Reeves. Mr Reeves was previously the CEO of George Weston Foods.

More reading

• These were the best performing ASX 200 shares last week
• These were the best performing ASX 200 shares in the Q1 of 2021
• These were the worst performing ASX 200 shares in the Q1 of 2021
• ASX 200 rises, Webjet sinks, Boral climbs
• Why the JB Hi-Fi (ASX:JBH) share price surged 19% in March

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. 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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It was a reasonably mixed week for the S&P/ASX 200 Index (ASX: XJO) last week. The benchmark index overcame a weak start to end it flat at 6,828.7 points

However, this couldn’t stop some ASX 200 shares from recording strong gains. Here’s why these shares were the best performers on the index last week:

Iluka Resources Limited (ASX: ILU)

The Iluka share price was the best performer on the ASX 200 last week with a 7.5% gain. This appears to have been driven by a broker note out of Ord Minnett. On Monday, the broker upgraded the mineral sands producer’s shares to a buy rating with an $8.10 price target. It made the move to reflect stronger prices and expansion plans at the Eneabba project.

Champion Iron Ltd (ASX: CIA)

The Champion Iron share price wasn’t behind and climbed 7.4% over the four days. Last week, analysts at Macquarie looked into the resources sector and upgraded iron ore and other base metal price forecasts notably to reflect strong demand and prices. This led to the broker retaining its outperform rating and putting a $7.00 price target on Champion Iron’s shares.

Boral Limited (ASX: BLD)

The Boral share price was on form and rose 6.7% higher over the week. Investors were buying the building products company’s shares after announcing the completion of the sale of its 50% share in the USG Boral joint venture to Gebr Knauf KG. The two parties agreed a price of US$1.015 billion (A$1.33 billion) for the business. A good portion of this will support a share buyback for up to 10% of its issued capital.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price was a positive performer and climbed 5.8% last week. This was despite there being no news out of the rare earth producer. However, with its shares falling reasonably hard last month, this appears to have been driven by bargain hunters swooping in. The Lynas share price is still down almost 8% since this time last month.

More reading

• These were the best performing ASX 200 shares in the Q1 of 2021
• These were the worst performing ASX 200 shares in the Q1 of 2021
• ASX 200 rises, Webjet sinks, Boral climbs
• Why the JB Hi-Fi (ASX:JBH) share price surged 19% in March
• Here’s why ASX cannabis shares are lighting up today

Motley Fool contributor James Mickleboro 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 Altium Limited (ASX: ALU) share price could be a good one to think about right now.

Altium is a high quality business that provides software tools for the design process of the latest technology and items.

In February 2021, Altium reported its FY21 half-year result. It included a continuing operating revenue decline of 4% to US$80 million, expense growth of 3% to US$53 million, a 15% decline of earnings before interest, tax, depreciation and amortisation (EBITDA) to US$27 million and profit before tax fell 23% to US$20.7 million.

Altium said that the decline reflects the economic slowdown caused by extreme COVID-19 conditions in the US and Europe, and a challenging environment, post-COVID in China, for license compliance activities.

The CEO of Altium, Aram Mirkazemi, gave some thoughts about the rest of FY21:

While there is emerging optimism as COVID-19 vaccines are rolling out, we continue to view fiscal 2021 as a pre-vaccine year for our flight path to 2025. Therefore, in weighing stronger execution momentum expected for the second half with lingering macroeconomic uncertainty, our full year revenue guidance is at the lower end of the range, from US$190 million to US$195 million (ex-TASKING) and EBITDA margin in the range of 37% to 39%.

3 reasons why the Altium share price could be a buy

Financial strength and goals

Over the long-term, Altium is aiming to dominate and transform its industry. It’s looking to achieve US$500 million of annual revenue and have 100,000 subscribers over the next four or so years.

Despite the difficult operating conditions, Altium is still in a strong financial position. At the end of the half-year it had US$88.3 million of cash and is still debt free. It doesn’t capitalise its research and development expenditure. It still generated US$16.6 million of profit after tax and US$18.7 million of group operating cash flow.

It wasn’t as though it was all negative either – Octopart revenue grew strongly, rising 19% to US$10.8 million as electronic manufacturing rebounded during the half.

Altium 365

In the HY21 result, Altium 365 was a particularly bright spot and it carries a lot of the company’s hopes for the future with its cloud model and collaboration tools for engineers.

At the end of December 2020, Altium said it had 9,300 active monthly users and 4,400 monthly active accounts (up 83% and 69% respectively since July).

Mr Mirkazemi said:

Altium 365 is key to our future success through indirect monetization from our CAD software tools and, in time, direct monetization from the broader ecosystem. I am most heartened by the strong adoption of Altium 365 and, with our Netflix organisational changes behind us, I am confident of a much stronger second half. Early signs are positive for this.

Lower Altium share price

Just like any investment, the value of a potential idea is important. Since 21 October 2020, the Altium share price has fallen by around 33%. That means that the long-term value on offer from Altium shares could be better than most of the last six months.

According to Commsec, the Altium share price is valued at 43x FY23’s estimated earnings.

More reading

• 5 of the best ASX shares to buy after the Easter break
• Is the ASX tech sector in for more pain?
• Where to reinvest your Commonwealth Bank (ASX:CBA) dividends
• ASX 200 Weekly Wrap: ASX 200 gets its mojo back
• 2 ASX shares rated as strong buys by brokers

Tristan Harrison owns shares of Altium. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Altium. 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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It’s important that those investing in ASX shares keep up to date on current events, and what’s more current right now than chocolate? I’m sure many readers will be munching on an egg or two while reading this article. If that is the case, maybe its time to put your money where your mouth is and invest in some chocolatey ASX shares.

Here are 3 sugary shares you can find on the ASX.

Shares for chocolate lovers 

Candy Club Holdings Ltd (ASX: CLB) 

While not necessarily a chocolate making company, Candy Club deserves its spot on this list.

To be honest, a lolly subscription service is genius. And, experts do say to invest in companies you understand. I’m sure most Australians would understand the appeal of a box of lollies arriving on your doorstep each month.  

Candy Club’s selection of adorable sugary treats, some of which are indeed chocolate, may well be your next great investment.

Candy Club’s share price is experiencing a sugar high. It’s up more than 73% year to date, and 462.5% over the last 12 months. 

The company has a market capitalisation of around $69 million, with approximately 308 million shares outstanding. 

Keytone Dairy Corp Ltd (ASX: KTD)

Milk chocolate is a favourite for many come Easter time, and this dairy company has got you covered in more ways than just milk.

Keytone Dairy is the owner of fudging making brand, Gran’s. Gran’s promises delicious, handcrafted, luxury fudge. If that doesn’t sound like an Easter Sunday afternoon snack, I don’t know what does.

The Keytone Dairy share price has had a bit of a rough trot in March, so those who believe in chocolatey fudge may just find themselves a bargain.

Keytone Dairy has a market capitalisation of around $46 million, with approximately 273 million shares outstanding.

FFI Holdings Ltd (ASX: FFI)

FFI Holdings is possibly better known as Fresh Food Industries. The Australian owned and operated food supplier has been around since 1979. Generally a wholesaling company, you may not see too many of its chocolatey products on supermarket shelves. But, there’s a strong likelihood you’ve enjoyed them in muffins, cookies or ice creams in eateries all around Australia.

The company’s shares are up by 25% over the last 12 months.

FFI Holdings has a market capitalisation of around $64 million, with approximately 10 million shares outstanding.

More reading

• 3 stellar ASX growth shares to buy next week
• Brokers name 3 ASX shares to buy right now
• 3 exciting small cap ASX shares that could be destined for big things
• 3 outstanding ASX shares to buy and hold
• 3 reasons why Rural Funds (ASX:RFF) is a great ASX dividend share

Motley Fool contributor Brooke Cooper 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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Looking for a growth share or two to buy after the Easter break? Three that could be worth considering are listed below.

All three have been growing strongly in recent years and look well-placed for more of the same during the 2020s. Here’s what you need to know about these ASX growth shares:

Appen Ltd (ASX: APX)

Appen is a leading developer of high-quality, human annotated datasets for machine learning (ML) and artificial intelligence (AI). It has been growing at a very impressive rate over the last few years thanks to the explosive growth in AI and ML spending. And while the pandemic has stifled its growth, the future remains very bright. With AI and ML markets expected to continue their strong growth for many years to come, Appen appears well-placed to deliver above-average growth over the next decade. Ord Minnett currently has a buy rating and a $24.75 price target on its shares.

Megaport Ltd (ASX: MP1)

Megaport is an elasticity connectivity and network services company. Its increasingly popular service allows businesses to increase and decrease their available bandwidth in response to their own demand requirements. This is instead of a user being tied to a fixed service level on long-term and expensive contracts. Demand for its service has been growing very strongly, leading to stellar recurring revenue growth. Goldman Sachs is a fan of Megaport thanks to its positive long term growth outlook. The broker has a buy rating and $15.55 price target on its shares.

Pushpay Holdings Group Ltd (ASX: PPH)

Pushpay is a fast-growing donor management platform provider for the faith and not-for-profit sectors. It has been growing its earnings at a rapid rate over the last few years and more of the same is expected in FY 2021 following a very strong first half. Looking further ahead, Pushpay is targeting a 50% share of the medium to large US church market. This is a US$1 billion opportunity and many multiples of its current revenue. Given the quality of its offering and favourable industry tailwinds, it looks well-placed to achieve this. Goldman Sachs is also a fan of Pushpay. It currently has a buy rating and $2.59 price target on its shares.

More reading

• These were the worst performing ASX 200 shares in the Q1 of 2021
• 2 rapidly growing ASX tech shares to buy in April
• Is the ASX tech sector in for more pain?
• The FINEOS (ASX:FCL) share price is now 30% off its August highs
• 3 of the best ASX shares to buy in April

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends MEGAPORT FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Appen Ltd and PUSHPAY FPO NZX. The Motley Fool Australia has recommended MEGAPORT FPO and PUSHPAY FPO NZX. 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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