3 rapidly growing ASX tech shares to buy

These tech shares are growing rapidly…

| More on:
Monadelphous share price rio tinto A small rocket take off from a laptop, indicating a share price surge

Image source: Getty Images

The tech sector is home to a number of companies growing at a rapid rate.

Three that have been standout performers recently are listed below. Here’s what you need to know about these growing tech shares:

Bigtincan Holdings Ltd (ASX: BTH)

The first tech share to look at is Bigtincan. It is a fast-growing sales enablement platform provider. In FY 2021, the company reported a 48% increase in annualised recurring revenue (ARR) to $53.1 million. Positively, it has just announced an agreement to acquire US-based Brainshark. It is an industry-recognised and multi-awarded leader in its field of sales coaching, learning and readiness. Management expects this to lead to combined ARR of $119 million in FY 2022. This will be up 124% year on year.

Morgan Stanley is very positive on the company. Earlier today it put an overweight rating and $2.10 price target on its shares.

Hipages Group Holdings Ltd (ASX: HPG)

Another ASX tech share to look at is Hipages. It is a leading Australian-based online platform and software as a service (SaaS) provider connecting consumers with trusted tradies. At the last count, there were over 34,000 tradies using the platform. This has been driving very strong growth across key metrics. For example, in FY 2021 Hipages outperformed its upgraded full year revenue guidance with a 22% year on year jump to $55.8 million.

Goldman Sachs currently has a buy rating and $4.10 price target on its shares.

PointsBet Holdings Ltd (ASX: PBH)

A final tech share to look at is PointsBet. It is a sports betting and iGaming provider with operations in the ANZ and US markets. It has been growing even quicker than the others, delivering a whopping 228% increase in full year turnover to $3,781.4 million in FY 2021. Underpinning this impressive result was a 117% increase in Australian active clients to 196,585 and a 661% increase in US active clients to 159,321.

Credit Suisse is bullish and has an outperform rating and $13.30 price target on its shares.

Wondering where you should 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 over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

Motley Fool contributor 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 has recommended BIGTINCAN FPO, Hipages Group Holdings Ltd., and Pointsbet Holdings Ltd. The Motley Fool Australia owns shares of and has recommended BIGTINCAN FPO. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Technology Shares

Technology Shares

Droneshield share price leaps 10% amid strong Ukrainian demand

The company's anti-drone systems are employed by militaries, law enforcement and private enterprises across the world.

Read more »

Two boys lie in the grass arm wrestling.
Technology Shares

Novonix share price fights to stay in the green on Monday

Tech is leading the ASX today.

Read more »

Person pointing at an increasing blue graph which represents a rising share price.
Share Gainers

Why is the Nitro Software share price rallying 5%?

Tech shares are showing signs of life again on Monday.

Read more »

Three analysts look at tech options on a wall screen
Technology Shares

Why are ASX 200 tech shares having such a stellar start to the week?

ASX 200 tech shares are outperforming the benchmark today.

Read more »

A woman wearing glasses has an uncertain look on her face as she bites her lip, she's just read some news on her phone.
Technology Shares

What’s with the Dicker Data share price today?

Shares in the hardware, software and cloud distributor are up and down today.

Read more »

Three analysts look at tech options on a wall screen
Technology Shares

3 ASX tech shares we’re sticking with: Forager

Share prices have plunged, we know. But if the business is still performing then the market will catch up sooner…

Read more »

Opinions

Here’s why I think ASX-listed Appen could be a potential takeover target

Why I think Appen could find itself in the crosshairs of private capital...

Read more »

A businessman points to and arrow going up on a graph, indicating a share price rise for an ASX company
Technology Shares

Why did the Link share price surge 11% on Friday?

It's been a tumultuous week for the Link share price.

Read more »