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3 tech shares on my watch list

Australia is rapidly increasing its presence as a force in the tech world.

Here are three companies that could be worth keeping an eye on.

Domacom Australia Limited (ASX: DCL)

The Domacom Australia Limited share price gained 40 per cent on Tuesday as the tech company continues its charge into 2018.

Domacom Australia, founded by Arthur Naoumidis, who also founded Praemium Ltd (ASX: PPS), is a fractional investment platform that allows investors to buy stakes in properties in Australia from $2,500.

The company utilises the “latest internet technology” to support its investment platform that allows crowd-funding for property assets such as the development of a bio fuels plant in northern New South Wales.

For financial year (FY) 2017, Domacom reported a loss of $6.1 million.

Energy One Limited (ASX: EOL)

The Energy One Limited share price has also enjoyed recent gains, notching up almost 10 per cent on Tuesday.

Energy One has done well for shareholders since listing last year, rising by more than 110 per cent in less than 12 months.

Energy One provides software and services to energy, environmental and carbon trading markets.

In FY 2017 Energy One reported revenue of $6.1 million, up 18 per cent on the previous year.

The company’s net profit after tax dropped to $307,000 in FY 2017 down from $464,000 the year before “due to one off acquisition costs and additional overseas marketing and research expenses”.

Rhipe Ltd (ASX: RHP)

The Rhipe Ltd share price gained 3.61 per cent on Tuesday with the company’s shares now trading for about 86 cents.

Rhipe Ltd, with a market value of about $112 million, provides a range of services which assist business in their transition to the cloud.

In FY 2017 the company reported revenue of $157 million, up 15 per cent on the previous year.

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Motley Fool contributor Steve Holland has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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