If you're interested in adding a little exposure to the small side of the market to your portfolio, then you might want to take a look at the shares listed below.
Here's what you need to know about these rapidly growing ASX small cap shares:
Bigtincan Holdings Ltd (ASX: BTH)
Bigtincan is a leading provider of enterprise mobility software globally. Its software helps businesses increase their sales win rates, reduce expenditures, and improve customer satisfaction. This is achieved by pulling everything from sales content management, coaching and training, document automation, and internal communications into one intuitive, custom-tailored, sales enablement platform.
Demand has been very strong for its platform and continues to be the case today. Management recently reaffirmed that it expects annualised recurring revenue (ARR) in the range of $49 million to $53 million in FY 2021. This represents a 37% to 48% increase year on year. This is still only scratching at the surface of its $6 billion market opportunity.
Analysts at Canaccord Genuity are very positive on its outlook. They have put a buy rating and $1.40 price target on its shares. The Bigtincan share price was changing hands for $1.19 at Friday's close.
MyDeal.com.au Limited (ASX: MYD)
MyDeal.com.au is an online retail marketplace provider that recently landed on the Australian share market following its initial public offering (IPO). It has a focus on furniture, homewares, appliances, technology, baby products, and hardware.
As with many online retailers, MyDeal has been a strong performer this year. During the first quarter of FY 2021, the company delivered gross sales growth of 317% to $56.67 million. This was driven by the accelerating shift to online shopping and a 268% increase in active customers to 669,897 compared to the prior corresponding period.
Analysts at RBC Capital Markets are positive on the company's prospects. They initiated coverage on MyDeal with a buy rating and $1.60 price target. The broker thinks the company is at an inflection point as annualised gross transaction value exceeds $200 million and customer numbers approach 700,000.
