With so many shares to choose from on the Australian share market, it can be hard to decide which ones to buy over others.
To narrow things down, I have picked out three options that are highly rated to consider:
Pushpay Holdings Group Ltd (ASX: PPH)
The first ASX share to look at is Pushpay. It is a leading donor management and community engagement platform provider for the faith sector. Pushpay has also boosted its offering with acquisitions. The most recent being the US$150 million acquisition of Resi Media. It is a US-based market-leading streaming solutions provider, servicing more than 70% of the Outreach 100 largest churches in the US. Management notes that it broadens Pushpay’s core product offering and enhances its value proposition to customers, strengthening its digital technology strategy and maintaining its position at the forefront of innovation in the faith sector.
Jarden currently has a buy rating and NZ$2.24 (A$2.15) price target on its shares.
ResMed Inc. (ASX: RMD)
Another ASX share to look at is ResMed. It is a medical device company with a focus on the sleep treatment market. Thanks to its industry-leading products, wide distribution network, and successful acquisitions, ResMed has been growing at a very strong rate over the last few years. The good news is that thanks to its significant market opportunity and the growing prevalence of sleep disorders, it has been tipped to continue doing so for the foreseeable future. Its near term performance is also being boosted by a major product recall from a competitor.
Morgan Stanley is positive on the company and has an overweight rating and $40.20 price target on ResMed’s shares.
Zip Co Ltd (ASX: Z1P)
A final ASX share to look at is Zip. This buy now pay later (BNPL) provider has been growing at a strong rate over the last few years thanks to the increasing popularity of the payment method and its international expansion. This has continued in FY 2022, with Zip recently revealing record quarterly revenue of $136.8 million during the first quarter. This was up 89% year on year and 8% quarter on quarter. The good news is the company still has a very long runway for growth over the next decade thanks to its massive global market opportunity.
Analysts at Morgans are positive on Zip. They currently have an add rating and $8.56 price target on its shares.
Should you invest $1,000 in Zip right now?
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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. owns shares of and has recommended PUSHPAY FPO NZX and ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia owns shares of and has recommended PUSHPAY FPO NZX. The Motley Fool Australia has recommended 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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