Are you interested in adding some more ASX shares to your portfolio?
Five ASX shares that could be worth considering this month are listed below. Here's what you need to know about them:
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Altium Limited (ASX: ALU)
Altium is an award-winning printed circuit board (PCB) design software provider. It could be worth considering due to its leading position in a market exposed to the Internet of Things and artificial intelligence booms. The proliferation of electronic devices is expected to lead to increasing demand for its software over the next decade. Credit Suisse currently has an outperform rating and $35.00 price target on its shares.
Appen Ltd (ASX: APX)
Appen and its million-plus team of crowd sourced experts prepare the data that goes into artificial intelligence and machine learning models. It does this for some of the biggest tech companies in the world such as Google and Facebook. With this market expected to grow materially in the future, Appen looks well-placed to benefit. Macquarie is a fan and has an outperform rating and $27.00 price target on Appen's shares.
Cochlear Limited (ASX: COH)
Cochlear is one of the world's leading hearing solutions companies and has a long track record of delivering earnings growth. While the pandemic is weighing on its performance right now, it looks well-placed for growth over the long term. This is thanks to the ageing populations tailwind and its industry leading products. Earlier this week Macquarie put an outperform rating and $241.00 price target on its shares.
IDP Education Ltd (ASX: IEL)
IDP Education is a provider of international student placement services and English language testing services. It was also hit hard by the pandemic. However, the company has been tipped to win market share and resume its rapid growth once the crisis passes and trading conditions return to normal.
Kogan.com Ltd (ASX: KGN)
Kogan is a rapidly growing ecommerce company which has been benefitting greatly from the shift to online shopping. Pleasingly, this trend is expected to continue over the long term, which should be supportive of its growth. The company has also bolstered its growth through value accretive acquisitions. This includes the acquisition of online retailer Mighty Ape for $122 million. Credit Suisse has outperform rating and $21.08 price target on its shares.
