There are a large number of ASX shares to choose from on the Australian share market.
Three that come highly rated are listed below. Here's why these ASX shares are being tipped as buys:
Healius Ltd (ASX: HLS)
The first ASX share to look at is Healius. It is one of Australia's largest pathology and diagnostic imaging providers offering a range of services. Thanks largely to elevated demand for COVID-19 testing, during the first quarter, Healius reported a 43.7% increase in group quarterly revenue over the prior corresponding period to $689.9 million. And with testing demand remaining strong because of the Omicron variant, the company looks well placed to deliver a very strong result in FY 2022.
Morgans is positive on Healius and has an add rating and $5.79 price target on its shares.
Life360 Inc (ASX: 360)
Another ASX share to look at is Life360. It operates in the digital consumer subscription services market and has a focus on products and services for digitally native families. This is where all members of the household are connected by smartphones, which is most families these days. A massive 33.8 million monthly active users are using its app at present, which is underpinning stellar recurring revenue growth. Life360 also has significant opportunities to monetise its user base further in the future through cross and upselling opportunities and acquisitions.
Bell Potter is bullish on Life360. It has a buy rating and $15.25 price target on the company's shares.
SEEK Limited (ASX: SEK)
This job listings company could be another ASX share to buy. Although SEEK was hit hard initially by the pandemic it has bounced back very strongly. SEEK reported a 1% increase in revenue to $1,591 million and a 58% jump in net profit after tax (excluding significant items) to $141 million in FY 2021. Pleasingly, it looks set to build on this in the coming years as the Australian economy recovers from COVID-19.
Credit Suisse is a fan and has an outperform rating and $39.50 price target on its shares.
