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Could these small cap ASX shares be the next Nearmap?

If your risk profile allows it, I think having a little exposure to the small side of the share market can be a very good thing for a portfolio.

Especially if you can identify and invest in a small cap share that goes onto bigger and better things.

A prime example of this is Nearmap Ltd (ASX: NEA). Over the last five years the aerial imagery technology and location data company’s shares have risen from 41 cents up to $3.60.

This is a gain of 778% and would have turned a $20,000 investment into a massive $175,000.

But which shares are the ones to buy now? Below you will find three top small caps which I think could be destined for big things in the future:

Audinate Group Limited (ASX: AD8)

Audinate is a fast-growing provider of digital audio-visual networking technologies. I think it is well worth keeping a close eye on the company due to its award-winning Dante audio over IP networking solution. Dante is used extensively across the professional live sound, commercial installation, broadcast, public address, and recording industries globally.

LiveTiles Ltd (ASX: LVT)

LiveTiles is a digital workplace platform provider. Its popular software allows users to easily create dashboards, employee portals, and corporate intranets. The company has strong links with global tech giant Microsoft and counts many blue chip companies as customers. In the first three quarters of FY 2019 the company has tripled its annualised recurring revenue to $34.5 million and is targeting $100 million by the end of June 2021.

Straker Translations Ltd  (ASX: STG)

Straker Translations is a translation services platform provider. It uses a combination of artificial intelligence and human intelligence to provide highly efficient language translation services at scale. Strong demand for its services from new and existing customers led to the company reporting an impressive 44% increase in revenue to NZ$24.6 million in FY 2019. I believe that more of the same is coming over the next few years, especially considering its global market opportunity is expected to be worth US$66 billion per annum by 2022.

These 3 stocks could be the next big movers in 2020

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

*Returns as of 6/8/2020

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended AUDINATEGL FPO and Nearmap Ltd. The Motley Fool Australia has recommended Straker Translations. 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 Scott Phillips.

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