Motley Fool Australia

2 stellar mid cap ASX shares to buy in April

2 asx tech shares to buy represented by hand holding up 2 fingers
Image source: Getty Images

If you’re looking for some investment options for April, then you might want to take a look at the mid cap space.

At this side of the market, there are a number of companies with the potential to grow materially over the next decade or two. This could lead to their shares generating outsized returns for investors if everything goes to plan.

With that in mind, here are two mid cap ASX shares to consider buying:

Nearmap Ltd (ASX: NEA)

The first mid cap ASX share to look at is Nearmap. It is a $990 million aerial imagery technology and location data company with operations in Australia and North America.

Nearmap’s leading products give businesses instant access to high resolution aerial imagery, city-scale 3D datasets, and integrated geospatial tools. The beauty of this, is that users can undertake virtual site visits anywhere there is coverage without leaving the home or office. The company notes that this enables informed decisions, streamlined operations, and meaningful cost savings.

Another positive is that Nearmap has recently bolstered its offering with the launch of several new products and add-ons. This includes an artificial intelligence product which has significant potential.

Goldman Sachs is positive on the company and believes Nearmap can grow its revenue by a CAGR of 15% per annum between FY 2020 and FY 2023. In light of this, the broker has placed a buy rating and $2.95 price target on its shares.

Nuix Limited (ASX: NXL)

Another mid cap ASX share to consider is Nuix. It is a growing provider of investigative analytics and intelligence software.

The company’s Discover, Workstation, and Investigate platforms allow users to transform huge amounts of data from various sources (such as emails, social media, and communications) into actionable intelligence. This is proving particularly important in investigations where there can be hundreds or thousands of files to comb through.

One broker that believes Nuix has a bright future ahead of it is Morgan Stanley. As a result, earlier this month the broker put an overweight rating and $10.75 price target on its shares.

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.

*Returns as of February 15th 2021

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. recommends Nuix Pty Ltd. The Motley Fool Australia owns shares of and has recommended Nearmap Ltd. The Motley Fool Australia has recommended Nuix Pty Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Related Articles…

Latest posts by James Mickleboro (see all)