Broker names 2 exciting ASX shares to buy with 80% upside potential

These ASX shares could be heading a lot higher…

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If you’re looking for ASX shares to buy, then you may want to add the two shares listed below to your watch list.

Both of these shares are rated as buys by Goldman Sachs with huge upside potential over the next 12 months.

Here’s what you need to know about these growing ASX shares:

Hipages Group Holdings Ltd (ASX: HPG)

The first ASX share to look at is Hipages. It is a leading online platform and software as a service (SaaS) provider that connects consumers with trusted tradies.

The Hipages platform helps tradies grow their business by providing job leads from homeowners and organisations looking for qualified professionals, while also enabling them to optimise their business through its SaaS product.

Goldman Sachs is a very big fan of Hipages. It believes that “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. So, with the Hipages share price currently fetching $1.96, this suggests potential upside of 84% for investors over the next 12 months.

Nitro Software Ltd (ASX: NTO)

Another ASX share that is highly rated is Nitro Software. It is the document productivity software company behind the Nitro Productivity Suite that is aiming to drive digital transformation in organisations around the world.

Goldman Sachs is very positive on Nitro’s long term growth potential. It said: “The market [is] currently pricing in long-term growth and margin assumptions that understate Nitro’s potential, in our view. We are positive on Nitro’s structural growth opportunity, reflected in our DCF scenario analysis implying an attractive asymmetric risk/reward skew.”

It currently has a buy rating and $2.60 price target on its shares. Based on the current Nitro share price, this implies potential upside of 77% for investors.

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 Hipages Group Holdings Ltd. The Motley Fool Australia owns and has recommended Hipages Group Holdings Ltd. The Motley Fool Australia has recommended 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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