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If you’re wanting to take advantage of recent weakness in the tech sector, then you might want to look at the shares listed below.

These ASX tech shares come highly rated right now. Here’s why:

Appen Ltd (ASX: APX)

The first ASX tech share to look at is this global leader in the development of high-quality, human annotated datasets for machine learning and artificial intelligence.

Appen works and has worked with some of the biggest tech companies in the world. This includes Facebook, Microsoft, and Apple. In respect to the latter, Appen helped with the development of its Siri smart assistant.

The company also has a strong position in the government sector thanks to its acquisition of Figure Eight. This is a big positive as governments across the world are investing billions into artificial intelligence.

And while demand has softened during the pandemic due to the postponement of many projects, it is expected to rebound strongly once the crisis passes.

One broker that is positive on Appen is Citi. It currently has a buy rating and $30.90 price target on its shares. This compares to the current Appen share price of $15.17.

Pushpay Holdings Group Ltd (ASX: PPH)

Another ASX tech share that is highly rated is Pushpay.

It is a payments company with a focus on the church market. Pushpay’s platform brings churches into the digital age with donation and community engagement solutions.

While Pushpay was already growing at a rapid rate before COVID-19, the pandemic has given its growth a lift over the last 12 months. This is due to the pandemic accelerating the digitisation of the church, leading to a surge in demand for its offering.

Whether or not this has pulled forward sales from future periods is difficult to say, so the company’s growth could potentially slow in FY 2022. But it certainly appears to be worth sticking with Pushpay due to its long term growth potential.

Especially given management’s bold aspirational targets. It is aiming to win a 50% share of the medium to large church market in the United States. This is estimated to be worth a massive US$1 billion in revenue. This is almost six times greater than the annualised revenue of US$85.6 million it delivered in the first half of FY 2021. 

Goldman Sachs is bullish on Pushpay. It has a conviction buy rating and a $2.59 price target on its shares. This compares to today’s Pushpay share price of $1.71.

More reading

• 2 stellar ASX shares growing rapidly
• 5 things to watch on the ASX 200 on Tuesday
• 3 of the best ASX shares to buy this month
• 2 ASX growth shares that could generate huge returns for investors
• 2 great ASX payment shares to buy

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 Appen Ltd and PUSHPAY FPO NZX. The Motley Fool Australia has recommended 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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More reading

• 2 exciting ASX tech shares that are highly rated by analysts
• Is the Blackmores (ASX:BKL) share price in the buy zone?
• 2 strong ASX 200 shares offering good income
• 2 growing ASX dividend shares for income investors
• 5 things to watch on the ASX 200 on Friday

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Kate O’Brien owns shares of Apple and Rio Tinto Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), and Apple. 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 Blackmores Limited (ASX: BKL) share price was out of form on Thursday.

The health supplements company’s shares dropped 4.5% to $80.60.

Why did the Blackmores share price tumble lower?

Investors were selling the company’s shares yesterday following the release of its shareholder update.

While no sales or profit data was provided, the update did reveal that trading conditions remain tough.

This is due to pressures in the daigou channel because of COVID-19, a milder cold and flu season, and a shift in shopping trends.

Is this a buying opportunity?

Yesterday’s decline means the Blackmores share price is now trading 9% lower than its 52-week high.

However, one leading broker believes investors should be sitting tight and waiting for a better entry point.

According to a note out of Goldman Sachs, its analysts have retained their neutral rating and cut the price target on its shares to $74.80.

Based on the current Blackmores share price, this implies potential downside of over 7%.

What did Goldman say?

Goldman was happy with the progress of its expansion into India and its investment in digital and supply chain projects. It expects the latter to improve efficiency and drive gross margin improvements.

However, it has concerns over its short term performance.

Goldman said: “Short-term outlook remains uncertain due to ongoing discounting pressure in the market and uncertainty in travel recovery. Capital expenditure is expected to accelerate from 2H22. Dividend payout ratio target has been reduced to 30-60%. Overall, while longer-term growth and expansion opportunities look positive, we think short-term uncertainties remain material. We revise our FY22E and FY23E EBIT forecasts by -8.6% and -5.1% respectively/ Our revised 12m Target Price on BKL is A$74.80. We maintain our Neutral rating on BKL.”

Goldman isn’t the only broker that is unsure about Blackmores at present. On Thursday, Citi put a sell rating and lowly $59.20 price target on Blackmores’ shares. It has concerns over demand in the lucrative China market.

More reading

• 5 things to watch on the ASX 200 on Friday
• Why the Blackmores (ASX:BKL) share price is under pressure today
• A2 Milk (ASX:A2M) share price sours amid international student uncertainty
• Why Blackmores, Cleanspace, PointsBet, & Treasury Wine shares are sinking
• Top brokers name 3 ASX shares to sell today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Blackmores Limited. 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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There are some S&P/ASX 200 Index (ASX: XJO) shares that are strong and offer good levels of income.

In this environment where interest rates are so low, but the future is uncertain, it could be interesting to look at businesses offer solid yields:

Magellan Financial Group Ltd (ASX: MFG)

Magellan is a large funds management business with a market capitalisation of around $8.75 billion.

The fund manager is currently rated as a buy by Morgans, which has a price target of $58.26 on Magellan.

It’s expecting the funds management business to pay a partially franked dividend of $2.06 per share. That translates to a partially franked dividend yield of 4.25%. Magellan has been steadily growing its ordinary dividend as the funds management profit keeps growing.

In the FY21 half-year result the profit before tax and performance fees generated by the funds management business grew 8% to $256.2 million and the interim dividend went up 5% to $0.97 per share. The dividend also grew in FY20, despite all of the impacts of COVID-19.

In March 2021, the total funds under management (FUM) went up 5.4% to $106 billion, which can help drive underlying profit higher. It experienced net inflows of $206 million for the month.

Not only is the ASX 200 share growing its core funds management business, but it has been making investments itself into other private businesses to help generate long-term growth. Examples include Barrenjoey and Guzman y Gomez.

According to Morgans, the Magellan share price is valued at 21x FY21’s estimated earnings.

Wesfarmers Ltd (ASX: WES)

Wesfarmers is a business that has built a track record for paying dividends to shareholders. It had been steadily growing its dividend for a number of years prior to the the Coles Group Ltd (ASX: COL) divestment. Wesfarmers has continued to do well with its dividend.

In the FY21 half-year result the board decided to increase the interim dividend by 17.3% to $0.88 per share. That was supported by a 16.6% increase in continuing operations revenue to $17.8 billion and a 25.5% increase in continuing operations earnings per share (EPS) to $1.25 per share. This leaves plenty of the profit left in the hands of the business to invest for more growth.

A year ago the ASX 200 share was seeing a lot of growth for Bunnings and Officeworks as people invested in their homes with projects and ensuring they could continue to work or learn at home.

In the FY21 half-year result, those trends are continuing. Excluding Catch, online sales across the group more than doubled for the half. Including Catch, online sales were over $2 billion for the six-month period. Bunnings saw underlying earnings before tax increase by 35.8% to $1.275 billion, which is the key profit centre of Wesfarmers.

Growth of the dividend is expected for FY21. According to the estimates on Commsec, Wesfarmers is expected to pay a dividend of $1.76 per share in this financial year.

That translates to a fully franked dividend yield of 3.1%.

Retail sales growth is expected to moderate in the last few months of FY21 because of the strong sales in the early months of COVID-19 in 2020, particularly for Bunnings and Officeworks.

However, it’s pursuing other avenues of growth. It recently announced the joint approval of its final investment decision for the Mt Holland lithium project.

Management said the group will continue to develop and enhance the portfolio, building on its capabilities and platforms to take advantage of growth opportunities within existing businesses and to pursue investments and transactions that create value for shareholders over the long-term.

More reading

• 5 things to watch on the ASX 200 on Friday
• ASX 200 recovers, Redbubble sinks, Megaport jumps
• 2 high quality ASX shares for your retirement portfolio
• Wesfarmers’ (ASX:WES) Bunnings open to hosting COVID vaccine hubs
• What’s happening with the Wesfarmers (ASX:WES) share price today?

Motley Fool contributor Tristan Harrison owns shares of Magellan Financial Group. The Motley Fool Australia owns shares of COLESGROUP DEF SET and Wesfarmers Limited. 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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One positive in this low interest rate environment is that the Australian share market is not short of options for income investors.

For example, the two ASX dividend shares listed below are all expected to provide generous yields to investors in 2021. Here’s why they could be top options for income investors:

Accent Group Ltd (ASX: AX1)

While the name Accent may not be familiar, the brands that it owns certainly will be. Accent is the retail conglomerate behind footwear brands including HypeDc, Platypus, and The Athlete’s Foot.

It has been growing its earnings and dividends at a strong rate in recent years and has been tipped to continue doing so in the years to come.

According to a note out of Bell Potter, its analysts have pencilled in dividends per share of 11.9 cents in FY 2021, 12.2 cents in FY 2022, and 12.9 cents in FY 2023. Based on the latest Accent share price, this equates to fully franked yields of 4.6%, 4.7%, and 5%.

Bell Potter currently has a buy rating and $2.65 price target on the company’s shares.

Coles Group Ltd (ASX: COL)

Another option to consider is Coles. It is of course one of the “big two” supermarket operators in Australia. It also has convenience and liquor stores.

Due to its strong market position, growing own brand offering, and focus on automation, the supermarket giant has been tipped to grow at a solid rate long into the future.

As a result, analysts at Goldman Sachs are forecasting dividends per share of 62 cents in FY 2021, 67 cents in FY 2022, and 73 cents in FY 2023. Based on the current Coles share price, this will mean attractive fully franked yields of 3.9%, 4.2%, and 4.6%, respectively, over the coming years.

Goldman Sachs currently has a buy rating and $20.70 price target on its shares. 

More reading

• Wesfarmers’ (ASX:WES) Bunnings open to hosting COVID vaccine hubs
• Coles (ASX:COL) share price rises on “supercharged” renewable targets
• 2 ASX dividend shares with fully franked yields of almost 5%
• Why Accent, Bank of Queensland, Freelancer, & Zip shares are pushing higher
• Why the Australian Primary Hemp (ASX:APH) share price is up 5%

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET. The Motley Fool Australia has recommended Accent Group. 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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On Thursday the S&P/ASX 200 Index (ASX: XJO) was back on form and charged notably higher. The benchmark index rose 0.8% to 7,055.4 points.

Will the market be able to build on this on Friday? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set to end the week on a disappointing note. According to the latest SPI futures, the ASX 200 is expected to open the day 24 points or 0.35% lower this morning. This follows a poor night of trade on Wall Street, which saw the Dow Jones, S&P 500, and Nasdaq all fall 0.9%. This follows reports that President Biden is eyeing a capital gains tax hike in the US.

Oil prices rebound

Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) will be on watch after oil prices rebounded. According to Bloomberg, the WTI crude oil price is up 0.5% to US$61.63 a barrel and the Brent crude oil price is up 0.4% to US$65.57 a barrel. News that Libya is reducing production gave prices a lift.

Gold price softens

Gold miners Newcrest Mining Ltd (ASX: NCM) and St Barbara Ltd (ASX: SBM) could have a subdued finish to the week after the gold price softened. According to CNBC, the spot gold price is down 0.5% to US$1,784.30 an ounce. Positive economic data put pressure on the precious metal.

Blackmores rated as neutral

The Blackmores Limited (ASX: BKL) share price may be fully valued according to Goldman Sachs. This morning the broker responded to its shareholder briefing by reaffirming its neutral rating and cutting its price target on the health supplements company’s shares to $74.80. Goldman notes that its short-term outlook remains uncertain due to ongoing discounting pressure in the market and uncertainty in travel recovery.

Iron ore price pulls back

The shares of BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) could come under a spot of pressure today after the iron ore price pulled back overnight. According to Metal Bulletin, the benchmark iron ore price dropped 2.4% to US$183.62. Both mining giants’ US-listed shares fell around 2% last night.

More reading

• ASX 200 recovers, Redbubble sinks, Megaport jumps
• Wesfarmers’ (ASX:WES) Bunnings open to hosting COVID vaccine hubs
• Woodside (ASX:WPL) share price slides despite 22% revenue increase
• Why the Blackmores (ASX:BKL) share price is under pressure today
• ASX 200 up 0.2%: AMP sinks, Redbubble crashes, Megaport jumps

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Blackmores Limited. 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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One area of the market which is home to a number of quality options for investors is the mid cap space.

But with so many to choose from, which ones should you consider buying? Two to consider are as follows:

Jumbo Interactive (ASX: JIN)

Jumbo Interactive is an online lottery ticket seller. Although it is best-known as the operator of the Oz Lotteries website, there’s a lot more to it.

The company also has its software as a service (SaaS) business – Powered by Jumbo.

This part of the business allows lottery operators to take their lotteries online without having to invest in a development team and build a website.

Management estimates that the business has a US$303 billion global total addressable market. And pleasingly, with just ~7% of this market online at the moment, it is well-placed to benefit from the ongoing shift to online lottery playing.

Last week analysts at Morgan Stanley put an overweight rating and $15.20 price target on its shares.

Life360 Inc (ASX: 360)

Another mid cap share to look at is Life360.

It is a Silicon Valley based technology company that operates a platform for busy families.

Life360’s popular app allows families to communicate and protect their loved ones. This is achieved through features such as messaging, driver safety, and location sharing.

At the end of December, it had more than 26 million monthly active users located in 195 countries.

And while usage fell during COVID because of lockdowns, demand is expected to increase materially once people are on the move again.

Though, it is worth noting that these headwinds haven’t impeded its growth. It is targeting Annualised Monthly Revenue in the range of US$110 million to US$120 million this year. This will be a 23% to 34% increase year on year.

Bell Potter is a fan of the company. The broker currently has a buy rating and $6.00 price target on its shares.

More reading

• 2 exciting mid cap ASX shares with long runways for growth
• Top brokers name 3 ASX shares to buy today
• 2 of the best mid cap ASX shares to buy
• 2 quality mid cap ASX shares with strong growth potential
• EML Payments (ASX:EML) and these ASX shares just hit new highs

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 Jumbo Interactive Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Life360, Inc. The Motley Fool Australia has recommended Jumbo Interactive Limited. 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 wanting to boost your portfolio with some top growth shares, then you may want to look at the two listed below.

Here’s why these top ASX growth shares have been tipped as ones to buy right now:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

This leading pizza chain operator could be a quality option for growth investors.

Thanks to its dominance of the local market and its expanding international operations, Domino’s has been growing its sales and earnings at a solid rate over the last decade.

The good news is that management doesn’t believe its growth is anywhere near complete. In fact, the company still believes it can double its store footprint over the next ten years or so. And that’s just in the markets it is currently active. It is also looking for acquisition opportunities which could give it an even larger footprint in the future.

One broker that sees value in its shares is Morgans. It currently has an add rating and $119.00 price target on its shares. This compares to the current Domino’s share price of $106.08.

Zip Co Ltd (ASX: Z1P)

Another ASX growth share that is rated highly is Zip. It is a fast-growing buy now pay later (BNPL) provider with operations across the world.

While its local operations are undoubtedly strong, it is the company’s US-based Quadpay business which is getting investors excited.

Quadpay has been growing at a rapid rate since its acquisition. Pleasingly, with a $5 trillion market opportunity in the US, there’s still a significant runway for growth ahead of it.

In addition to this, the company has recently launched in the UK and has plans to enter other regions in the future.

Morgans is also very positive on Zip. So much so, last week the broker put an add rating and $10.39 price target on its shares. This compares to the latest Zip share price of $8.89.

More reading

• Why your ASX 200 shares aren’t going up with the market 
• Why Megaport, Pointerra, Regis Resources, & Zip are charging higher
• Zip Pay (ASX:Z1P) share price rising after ‘global leader’ agreement
• BrainChip and Zip were among the most traded ASX shares last week
• Why Accent, Bank of Queensland, Freelancer, & Zip shares are pushing higher

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 ZIPCOLTD FPO. 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 Bruce Jackson.

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Australia is continuing to face delays of its COVID-19 vaccine rollout and it’s likely to cost the country billions.

Australia’s vaccine rollout was already delayed before the AstraZeneca vaccine was found to put those under 50 at risk of deadly blood clots.

A report by the McKell Institute has found the original delays in our vaccine rollout could result in 15 days of lockdown – each costing the economy more than $123 million.

Now, the golden egg in our basket has broken, what could the economic impact be?

How delayed is Australia’s vaccine rollout so far?

Originally, 4 million Australians were to be vaccinated by the end of March.  Instead, just 1.65 million Australians have been vaccinated. 

The McKell Institute’s report, Counting the Cost of Australia’s Delayed Vaccine Rollout, found to avoid more lockdowns at least 65% of Australians must be vaccinated.

If the rollout continues at its current speed that could take approximately 518 days, or just under 1.5 years.

For Australia to be fully vaccinated by October, the vaccination rollout would have to be up to 15 times faster.

What could delays cost Australia’s economy?

The report found, so far, 13.7% of days have seen an Australian capital city in a COVID-19-induced lockdown.

When most front-line healthcare and quarantine workers receive vaccines, the percentage of likely days in lockdown decreases to approximately 9.5%. 

The report also tallied the costs of various lockdowns around Australia. It found a conservative figure would be roughly $123 million per day.

If Australia’s vaccine rollout continues at its current speed, Australian capitals could see another 49 days of lockdown. This could potentially cost the economy more than $6 billion.

Even if Australia increased its vaccination rollout to 15 times its current speed tomorrow, we would likely see an extra 11.1 days of lockdowns – costing upwards of $1.36 billion.

More reading

• ASX 200 recovers, Redbubble sinks, Megaport jumps
• 2 high quality ASX shares for your retirement portfolio
• Why the Computershare (ASX:CPU) share price will be on watch on Friday
• Aussie adds digital home loans in an effort to keep up with the big four
• 2 exciting e-commerce ASX shares growing rapidly

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The S&P/ASX 200 Index (ASX: XJO) rose 0.8% to 7,055 points, despite being down earlier in the day.

Here are some of the highlights from the ASX today:

Megaport Ltd (ASX: MP1)

The Megaport share price went up by almost 10% after releasing its quarterly update.

In the three months to 31 March 2021, it saw 8% quarter on quarter growth of its monthly recurring revenue to $6.8 million. Total revenue went up 5% to $19.6 million compared to the second quarter of FY21. In March 2021, its customer number reached 2,117, an increase of 4% quarter on quarter. The number of ports rose 5% quarter on quarter, whilst total services went up 4%.

Megaport CEO Vincent English said:

As we enter the final quarter of FY21, we have a strong pipeline of new customers, driven by increased requirements from digital transformation initiatives. We see this as an indication that enterprises now have greater line of sight to post-pandemic normal and that overall IT budgets are improving. Our growth in ports and underlying revenue in the second half of the third quarter was strong, and we expect to see this trend continue.

Mr English went on to say that it’s on track to be breakeven on the earnings before interest, tax, depreciation and amortisation (EBITDA) level on an annualised basis, by June 2021.

Megaport was the best performer in the ASX 200.

Redbubble Ltd (ASX: RBL)

The Redbubble share price fell 23% today after revealing a trading update as well as a strategy shift.

Redbubble noted that its business is seasonal when delivering its third quarter numbers.

Marketplace revenue went up 54% to $103.4 million and gross profit grew 55% to $39.8 million. EBITDA rose $8.5 million to $2.2 million and earnings before interest and tax (EBIT) climbed 91% to a loss of $0.9 million.

Redbubble is determined to create the world’s largest marketplace for independent artists and it’s going to invest heavily to do so. The company believes that it has an enormous addressable market with consumer goods. It sees tremendous potential benefits from growing the business over the medium and long term.

The new ASX 200 share wants to generate a lot of revenue growth, with a target of $1.25 billion of marketplace revenue over the medium-term.

It’s going to invest, but this is going to mean that the EBITDA margin (of marketplace revenue) will remain in the mid single digit range over an annual period.

When it reaches $1.25 billion of marketplace revenue, it expects to generate EBITDA margins of 10% to 15%.

Australian Pharmaceutical Industries Ltd (ASX: API)

The API share price fell over 1% after the business announced its FY21 half-year result.

COVID-19 has impacted its CBD and large shopping centre stores, causing a decline in foot traffic and sales.

Total revenue was down 2.6% to $2 billion. EBIT dropped 25.2% to $29.4 million and net profit after tax (NPAT) fell 29.3% to $15.9 million.

The business has been working on reducing costs and investing in online capabilities. It’s also opening new Clear Skincare clinics to fuel future growth.

API’s board decided to pay a dividend of 1.5 cents per share. This was an increase from last year where no dividend was paid due to COVID-19.

The pharmacy business said that it remains confident about the growth potential of its two retail businesses and the reliability of its pharmacy distribution cash-generating business.

More reading

• 2 exciting e-commerce ASX shares growing rapidly
• Wesfarmers’ (ASX:WES) Bunnings open to hosting COVID vaccine hubs
• Redbubble (ASX:RBL) share price crashes 20% on increased investments
• Why Megaport, Pointerra, Regis Resources, & Zip are charging higher
• Why AMP, Challenger, Pilbara Minerals, & Redbubble shares are tumbling lower

Tristan Harrison 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 has recommended MEGAPORT FPO. 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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