3 exciting tech shares to watch

While the U.S. share market may be home to many of the world’s biggest tech companies, I think the local share market has a few up and coming stars of its own.

Three which are at the top of my watchlist at the moment are listed below. Here’s why I like them:

ELMO Software Ltd (ASX: ELO)

This cloud-based talent management software solutions company is certainly one to watch in my opinion. In FY 2017 the company delivered revenue of $17 million, up 26% year-on-year and 4% ahead of its prospectus forecast. Its earnings result was even better, with EBITDA coming in 42% ahead of its forecasts at $1.2 million. Pleasingly, management expects a similarly strong performance in FY 2018.

LiveHire Ltd (ASX: LVH)

LiveHire is a talent technology company focused on the recruitment side of the market. Its recruitment platform has been growing in popularity at an explosive rate and I don’t think it is hard to see why. The platform allows its users to create a pool of pre-qualified job candidates that they can access when they need to recruit, saving recruiters both time and money. Unlike ELMO, though, its earnings have yet to really take off. Cash receipts are growing at a strong rate, but at present they fail to justify its market capitalisation in my opinion. I would keep it on your watchlist for now.

Livetiles Ltd (ASX: LVT)

This exciting digital workplace platform provider has made significant progress in the last few months in relation to its aim of gaining a leadership position in the massive artificial intelligence market. This included agreements with Microsoft and Clean Energy Smart Manufacturing Innovation Institute. The Microsoft agreement in particular appears to be a potential game-changer and will see its LiveTiles Bots product promoted to the tech giant’s business customers. Its shares are starting to get a touch expensive, though, so investors may want to hold out for a pullback.

Whilst waiting for LiveTiles to fall into the buy zone, these tech shares could be great investments.

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Cochlear or REA Group.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended ELMOSFTWRE FPO. The Motley Fool Australia has recommended LIVETILES FPO. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.