3 ASX tech shares to watch in 2018

The tech space is poised to be one of the most exciting sectors in the ASX in 2018.

Here are three companies that will be worth looking out for…

Adacel Technologies Limited (ASX: ADA)

Adacel Technologies Limited has watched its share price tumble in the past month.

In November Adacel shares were trading for as much as $3.09 but have come down sharply since and are now going for around $2.46.

The aviation software and training company, with a market value of about $196 million, recorded a profit of $7.9 million on revenues exceeding $42 million for financial year (FY) 2017.

But the company is forecasting profit growth of 35 per cent for FY 2018.

However the loss of a contract with the Federal Aviation Administration amid directors offloading shares are factors which are unlikely to inspire confidence in investors.

Rightcrowd Ltd (ASX: RCW)

Rightcrowd, a security software developer, is new to the ASX having listed in September.

The company saw its share price rise to 35 cents in October, before dropping to its current price of 30 cents.

Rightcrowd claims to be able to improve physical security systems with its technology and offers protection against cyberattacks which gives the company exposure to both the physical security market and the cyber security industry, which are reportedly worth $100 billion per year each.

Rightcrowd has announced that it has contracted sales revenue of $5 million to be delivered in FY 2018 which exceeds the $4.1 million achieved by the company in FY 2017.

All this means that Rightcrowd is looking like the best of the three companies to look out for in 2018.

Fastbrick Robotics Ltd (ASX: FBR)

The Fastbrick Robotics share price has shed about 44 per cent since August with shares in the company now trading for about 16 cents.

Despite the recent slide Fastbrick Robotics shareholders have still seen returns over the past year exceeding 50 per cent.

The company, a robotics business with a market cap of about $170 million, developed a machine called the Hadrian X which Fastbrick claims is capable of laying 1,000 bricks per hour.

Fastbrick has stated that it intends to use the machine to tap the “Brick and Block” sector of the global construction space it said is worth US$1.3 trillion.

As such, Fastbrick appears to be a company with great potential and worth keeping an eye on in 2018.

If you’re interested in learning about more tech opportunities, you can have a look at this…

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Motley Fool contributor Steve Holland has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Adacel Technologies Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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