2 exciting ASX mid cap tech shares to buy in 2021

Damstra Holdings Ltd (ASX:DTC) and this mid cap ASX tech share come highly rated. Here’s what you need to know about them…

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At the mid cap side of the market there are a good number of options for investors to choose from.

In fact, there are so many it can be hard to decide which ones to choose over others.

Two mid cap shares that come highly rated are listed below. Here’s what you need to know about them:

Damstra Holdings Ltd (ASX: DTC)

Damstra is a $291 million integrated workplace management solutions provider to multiple industry segments. It provides a cloud-based workplace management platform which is used by businesses globally to track, manage, and protect their workers and assets.

Among its offering are products which have become highly sought after in the current environment, such as fever detection and mobility tracking. Damstra has also recently strengthened its offering with an acquisition. It acquired Vault Intelligence, which is a software company offering solutions which combine health, safety, compliance, and risk management.

Analysts at Morgan Stanley are positive on its prospects. The broker currently has an overweight rating and $2.00 price target on Damstra’s shares. This compares to the current Damstra share price of $1.56.

Nitro Software Ltd (ASX: NTO)

Another mid cap share to watch closely is Nitro Software. It is a $600 million software company which is aiming to drive digital transformation in organisations around the world across multiple industries.

The company’s core solution is the Nitro Productivity Suite. It provides integrated PDF productivity, eSignature, and business intelligence (BI) tools to customers through a horizontal, software-as-a-service and desktop-based software suite.

The company notes that its software solution is highly scalable, serving large multinational enterprises and government agencies, as well as small businesses and individual users. At present, Nitro has over 2.2 million licensed users and over 11,000 business customers across 144 countries. This includes over 68% of the Fortune 500 and three of the Fortune 10.

Analysts at Morgan Stanley are also positive on Nitro and have an overweight rating and $3.50 price target on its shares. The Nitro share price is currently trading at $3.14.

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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 Damstra Holdings Ltd. The Motley Fool Australia has recommended Damstra Holdings Ltd and Nitro Software Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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