2 fantastic ASX tech shares analysts rate as buys

Here are two tech shares that are highly rated…

| More on:
a woman holds her hand out under a graphic hologram image of a human brain with brightly lit segments and section points.

Image source: Getty Images

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

If you’re looking for tech shares, then look no further. Listed below are two ASX shares which have been tipped for strong growth in the future.

Here’s why analysts have rated them as buys:

Hipages Group Holdings Ltd (ASX: HPG)

The first ASX tech share to look at is Hipages. This leading Australian-based online platform and software as a service (SaaS) provider connects consumers with over 30,000 trusted tradies (and growing). It also provides tradies with the Tradiecore app, which is designed to ease the burden of everyday admin for trade businesses.

And while the first half of FY 2022 was disappointing due to the impact of lockdowns on its tradie subscriptions, Goldman Sachs remains positive and expects a big improvement in the second half.

It commented: “Despite near term volatility, nothing in this result changes our positive view on HPG: we believe HPG presents a compelling long term growth opportunity as it scales to become the leading trade services marketplace in Australia.”

The broker currently has a buy rating and $3.60 price target on its shares.


Another tech share that could be a buy is NEXTDC. It is a leading data centre operator which appears well-placed to benefit from the structural shift to the cloud thanks to its world class network of centres and expansion into Asia and edge centres. Citi certainly expects this to be the case and is forecasting strong growth over the coming years.

The broker said: “NXT delivered a strong result with increasing utilisation of Gen 2 assets driving solid revenue growth and margin expansion, while revenue metrics improved HoH (revenue per MW up 7% HoH). While the current backlog underpins FY23e earnings, we have lowered our forecasts to reflect a slower ramp and conversion of the pipeline. We maintain our Buy call and see the conversion of Hyperscale customer commitments in Sydney and Melbourne as the next key catalyst.”

Citi has a buy rating and $14.55 price target on NEXTDC’s shares.

Motley Fool contributor James Mickleboro owns NEXTDC Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns and has recommended Hipages Group Holdings Ltd. The Motley Fool Australia owns and has recommended Hipages Group 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

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Earnings Results

Nuix share price tumbles following $23m loss in FY22

Nuix shares dropped into the red on Thursday...

Read more »

Young man in shirt and tie staring at his laptop screen watching the Paladin Energy share price tank today
Earnings Results

Codan share price sinks 10% despite record profit

How did Codan track for the 2022 financial year?

Read more »

A gold bear and bull face off on a share market chart
Technology Shares

Does the bull beat the bear for this ASX tech share?

Let's take a look at the bull and bear cases for this ASX tech share.

Read more »

A boy is about to rocket from a copper-coloured field of hay into the sky.
Technology Shares

Guess which ASX tech share is soaring 16% on a new Google deal

This tech share has had a great past 12 months.

Read more »

Man ponders a receipt as he looks at his laptop.
Technology Shares

Xero share price dips 5% on weaker UK performance

The ASX market darling is feeling the heat after providing an update at its AGM.

Read more »

a man sits in casual clothes in front of a computer amid graphic images of data superimposed on the image, as though he is engaged in IT or hacking activities.
Earnings Results

Data#3 share price dips despite 19% leap in FY22 dividend

The ASX tech share said ongoing supply chain issues had impacted its performance over the year.

Read more »

A hipster looking man with bushy beard and multiple arm tattoos sits on the floor against a sofa reading a tablet with his hand on his chin as though he is deep in thought.
Industrials Shares

Why did the Novonix share price nosedive 6% today?

We check what happened to shares in the battery material technology company on Wednesday.

Read more »

a man sits at a computer in deep thought with hand on chin in a darkened room as though it is late and night and he is working on cybersecurity issues.
Earnings Results

ReadyTech share price slips despite earnings increase

The software as a service provider has notched a solid year.

Read more »