If you're interested in adding a small cap or two to your balanced portfolio, then you might want to check out the ones listed below.
Here's what you need to know about these small cap ASX shares:
Audinate Group Limited (ASX: AD8)
Audinate is a digital audio-visual networking technologies provider best known for its industry-leading Dante audio over IP networking solution. This product is used widely across a number of industries and has begun to dominate its market.
For example, management recently revealed that the number of Dante enabled products manufactured by its customers has grown to 2,804. This is a staggering eight times greater than its nearest rival, Cobranet.
This, and its better than expected first quarter update, appears to have impressed analysts at UBS. Last month the broker retained its buy rating and lifted its price target on the company's shares to $8.00.
Mach7 Technologies Ltd (ASX: M7T)
Mach7 is a growing developer of enterprise imaging and informatics solutions for image viewing, storage, and workflow management. Its increasingly popular solutions can be implemented individually or as a comprehensive end-to-end image management and diagnostic viewing platform.
A testament to the quality of its offering is its client base. For example, Mach7 recently announced a seven-year contract with Trinity Health for the license and associated support services for its eUnity enterprise viewer. Trinity Health is the fifth largest healthcare Integrated Delivery Network (IDN) in the United States and will be installing it across multiple facilities within its 92 hospitals.
One broker that is positive on the company's prospects is Morgans. It has recently reiterated its add rating and $1.49 price target on the company's shares. Morgans notes that this contract could be the first of many deals due to its material tender pipeline.
