2 top ASX shares that could be strong buys

These ASX shares could be top options right now…

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Are you wanting to make some new additions to your portfolio? If you are, then you may want to look at the shares listed below.

Here’s why analysts are tipping these top ASX shares as buys:

Aristocrat Leisure Limited (ASX: ALL)

The first ASX share to look at is Aristocrat Leisure. It is one of the world’s leading gaming technology companies. While the pandemic weighed heavily on its poker machine business, it has bounced back to life over the last few months. This has been driven by the increasing popularity of its machines with players and casinos.

In addition to this, its digital business continues to flourish and generate significant recurring revenues for the company. Among its most popular titles are RAID: Shadow Legends, Mech Arena, and Vikings: War of Clans.

Pleasingly, with both businesses now pulling together, the company appears well-positioned for growth over the 2020s. The team at Credit Suisse certainly appear to believe this is the case.

Last week the broker retained its outperform rating and lifted its price target on the company’s shares to $50.30.

Life360 Inc (ASX: 360)

Another ASX share to look at is Life360. It operates in the digital consumer subscription services market. The company’s focus is on products and services for digitally native families, where all members of the household are connected by smartphones.

Life360 has been growing at a rapid rate in recent years thanks to its increasingly popular app. At the end of the first half of FY 2021, the Life360 app had 32.3 million Global Monthly Active Users (MAU). This was up by approximately 4 million in just the space of three months thanks partly to a highly successful marketing campaign on TikTok.

The company is now focusing on monetising its user base through cross selling opportunities. One of those is via the acquisition of wearables company Jiobit. It provides GPS tracking for kids and pets.

The team at Bell Potter are very positive on Life360 and see plenty of monetisation opportunities. As a result, they currently have a buy rating and $10.75 price target on the company’s shares.

Should you invest $1,000 in Life360 right now?

Before you consider Life360, you'll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Life360 wasn't one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

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 Life360, Inc. The Motley Fool Australia has no position in any of the stocks mentioned. 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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