2 explosive ASX tech shares analysts love

These tech shares could be going places…

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Are you looking to gain exposure to the tech sector? If you are, then you may want to look at the two ASX shares listed below.

These tech shares have been given buy rating and are tipped to grow strongly in the future. Here's what you need to know about these ASX tech shares:

A woman on a green background points a finger at graphic images of molecules, a rocket, light bulbs, and scientific symbols as she smiles.

Image source: Getty Images

Altium Limited (ASX: ALU)

The first ASX tech share to look at is this growing electronic design software provider.

Altium is best-known for its Altium Designer and Altium 365 platforms. These platforms are regarded as the best in the industry and are used by many of the world's largest companies such as BAE Systems, Microsoft, and Tesla. Altium looks well-placed for growth over the next decade thanks to the internet of things and artificial intelligence booms. These are driving strong demand for electronic design software.

Bell Potter is a big fan of Altium. Its analysts currently have a buy rating and $42.50 price target on the company's shares. This compares to the current Altium share price of $39.77.

Appen Ltd (ASX: APX)

Another ASX tech share to look at is Appen. It is a leading developer of high-quality, human annotated datasets for machine learning and artificial intelligence (AI).

Through its team of one million+ contractors, Appen prepares or creates the data for the machine learning models of some of the largest tech companies. These includes Amazon, Facebook, and Microsoft.

Given how important high quality data is for machine learning models, demand for its services is expected to rise strongly in the future as investment in AI increases materially.

Citi remains positive on the company. Its analysts currently have a buy rating and $17.10 price target on its shares. The compares to the latest Appen share price of $11.56.

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 Altium and Appen Ltd. The Motley Fool Australia owns shares of and has recommended Altium and Appen 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

Man happy to be holding a blue cloud representing cloud computing.
Technology Shares

3 ASX shares benefiting from the rise of digital infrastructure

Artificial intelligence and cloud computing need the help of these shares.

Read more »

Soldier in military uniform using laptop for drone controlling.
Technology Shares

Why this ASX defence stock is falling today despite a massive 660% run

EOS shares pull back as a contract delay offsets a solid quarterly result.

Read more »

Happy couple looking at a phone and waiting for their flight at an airport.
Technology Shares

ASX tech stock charges higher on big acquisition news

Let's see what the software company has announced this morning.

Read more »

A young man talks tech on his phone while looking at a laptop with a financial graph superimposed across the image.
Technology Shares

These beaten down ASX 200 tech stocks could rise 55% to 60%

Brokers think these stocks could rise strongly from current levels.

Read more »

Hand with AI in capital letters and AI-related digital icons.
Technology Shares

Which junior ASX AI company has rocketed almost 40% on a transformational deal?

Big things could come from this deal, the company's leaders say.

Read more »

Three small children reach up to hold a toy rocket high above their heads in a green field with a blue sky above them.
Technology Shares

Up 13% today. Here's why this $6.6 billion ASX stock is on the move again

Codan shares rocket as earnings guidance jumps more than 60%

Read more »

a man raises his fists to the air in joyous celebration while learning some exciting good news via his computer screen in an office setting.
Technology Shares

Codan FY26 earnings surge more than 60% on strong communications segment

Codan expects FY26 EBIT and NPAT to surge by more than 60%, powered by strong results in both communications and…

Read more »

Two smiling work colleagues discuss an investment at their office.
Technology Shares

Down 30%, why this ASX 200 stock could be a strong buy

A sharp pullback has changed the starting point. The key question now is whether the growth and scalability story still…

Read more »