These days there certainly isn’t a great deal you can buy at the local Woolworths Limited (ASX: WOW) supermarket with a single dollar coin.
But that’s not the case on the share market. Right now there are a number of quality tech shares trading at prices below $1.00 going largely unnoticed by the market.
Here’s why I think they could be worth taking a closer look at:
The Freelancer Ltd (ASX: FLN) share price just scrapes in under a dollar, closing on Tuesday at 92 cents. As the world’s largest freelancing and crowdsourcing marketplace by a number of users and projects, I believe Freelancer is in a strong position to profit from the rise of the gig economy. After all, at present Freelancer boasts well over 24 million employers and freelancers using its platform globally.
The Mitula Group Ltd (ASX: MUA) share price last traded at 90 cents. This online classified advertising website aggregator could be one to watch in my opinion. Earlier this week the company released a positive trading update which revealed a record $8.2 million in revenue in the March quarter. This was an impressive 30.2% increase on the prior corresponding period. With no debt, a healthy cash balance, and strong sales growth, Mitula could have a bright future ahead of it.
The Nearmap Ltd (ASX: NEA) share price closed at 54 cents yesterday, down around 17% year-to-date. Whilst its share price performance has disappointed this year, the aerial imaging company’s business performance has been reasonably impressive. In March the company revealed that it was experiencing its strongest trading quarter year-to-date, with the addition of $3 million worth of incremental annualised contract value. I believe the company has huge potential, especially if it can make in-roads into the lucrative U.S. market.
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