3 exciting small cap ASX shares to watch

Here are three small caps to watch closely…

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Are you looking to add a small cap share or two to your portfolio in the near future? If you are, then you might want to consider one of the ASX shares listed below.

Here’s what you need to know about these exciting small cap shares:

Alcidion Group Ltd (ASX: ALC)

The first small cap share to watch is this healthcare informatics solutions company. Alcidion provides software which has been designed to improve the efficacy and cost of delivering services to patients and reduce hospital-acquired complications. One of its solutions is Patientrack. It helps clinicians know a patient’s status in real-time. This means that doctors can intervene and prevent patient deterioration faster than ever before. Patientrack uses predictive algorithms to support time-critical care.

Bell Potter currently has a buy rating and 45 cents price target on its shares.

Nitro Software Ltd (ASX: NTO)

Nitro Software is another small cap ASX share to watch. It is a software company that is aiming to drive digital transformation in organisations around the world. Its key solution is the Nitro Productivity Suite. This provides integrated PDF productivity and electronic signature tools to customers through a horizontal, software-as-a-service, and desktop-based software solution. Nitro counts businesses of all shapes and sizes as customers. This includes a number of the largest companies in the world.

Bell Potter is also a fan of Nitro. It currently has a buy rating and $1.98 price target on its shares.

Volpara Health Technologies Ltd (ASX: VHT)

A final small cap ASX share to watch is Volpara. It is a provider of software that uses artificial intelligence imaging algorithms to assist with the early detection of breast and lung cancer. Volpara has been growing its top line at a rapid rate in recent years thanks to market share gains and its expanding average revenue per user (ARPU) metric. Pleasingly, thanks to acquisitions over the last couple of years and its growing product portfolio, the company’s ARPU metric is expected to rise significantly in the coming years. This could be supportive of further strong growth over the 2020s

Morgans is bullish on Volpara. It currently has an add rating and $1.94 price target on its shares.

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*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 and has recommended Alcidion Group Ltd and VOLPARA FPO NZ. The Motley Fool Australia owns and has recommended VOLPARA FPO NZ. The Motley Fool Australia has recommended Alcidion Group Ltd and Nitro Software Limited. 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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