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2 exciting small cap ASX shares to buy

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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.

Where to invest $1,000 right now

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.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends MACH7 FPO. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of AUDINATEGL FPO. The Motley Fool Australia has recommended AUDINATEGL FPO and MACH7 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 Scott Phillips.

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