2 highly rated ASX tech shares to buy this month

Damstra Holdings Ltd (ASX:DTC) and this ASX tech share could be great options for ASX investors. Here's what you need to know…

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If you're currently looking for some ASX tech shares to add to your portfolio, then you might want to take a look at the options listed below.

Here's why these ASX tech shares could be in the buy zone:

asx tech shares

Image source: Getty Images

BetaShares Asia Technology Tigers ETF (ASX: ASIA)

The first tech share is actually an ETF that gives your exposure to a group of tech shares. The BetaShares Asia Technology Tigers ETF provides Australian investors with easy access to 50 of the largest technology and ecommerce companies that have their main area of business in Asia (excluding Japan).

This means you'll be buying a piece of tech giants such as Alibaba, Baidu, JD.com, Samsung, and Tencent Holdings.

In respect to Alibaba, it is widely regarded as the Amazon of China. At the end of the September quarter, the company had 757 million annual active customers across its Alibaba, Taobao, and Tmall brands. From this, the company is estimated to control a massive 56% of China's e-commerce market.

BetaShares notes that due to its younger and tech-savvy population, Asia is surpassing the West with technological adoption. As a result, this area of the economy is expected to be a growth sector for a long time to come.

Damstra Holdings Ltd (ASX: DTC)

Another ASX tech share to look is this integrated workplace management solutions provider.

It provides a cloud-based workplace management platform which is used by businesses globally to track, manage, and protect their workers and assets. This is becoming increasingly important for businesses and can potentially save significant costs relating to workplace injuries. 

Damstra has been growing strongly over the last couple of years thanks to increasing demand. This strong form has continued in FY 2021, with Damstra delivering a solid half year result in February.

For the six months ended 31 December, Damstra reported a 29.6% increase in revenue to $13.3 million. And while it posted a 4% decline in EBITDA to $2.5 million, this was due to the impact of the acquisition of the loss-making Vault Intelligence business during the half.

Shaw and Partners is positive on the company. It currently has a buy rating and $1.93 price target on its shares.

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 owns shares of and has recommended BetaShares Asia Technology Tigers ETF. The Motley Fool Australia has recommended Damstra Holdings Ltd. 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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