Looking for some small cap shares to add to your portfolio? Then have a look at the three listed below.
Here's why analysts have named them as buys:
Airtasker Ltd (ASX: ART)
The first small cap ASX share to consider is this online marketplace for local services. It has been growing at a rapid rate in recent years and has been tipped to continue this trend in the future by the team at Morgans. This is due to the broker's belief that the company has a very attractive business model and a significant market opportunity that is in the early stages of ecommerce adoption. Morgans has an add rating and $1.27 price target on the company's shares.
MoneyMe Ltd (ASX: MME)
Another small cap ASX share that is rated as a buy is MoneyMe. It is a financial technology company that leverages artificial intelligence to deliver highly automated credit products and customer experiences. It has also been growing at a solid rate in recent years and appears well-placed for more of the same in the future. Particularly given its recent acquisition of the SocietyOne business for $132 million. Morgans is positive on the company's future, noting that its diverse product suite now combined with the complementary customer base of SocietyOne has the potential to drive further top line growth. The broker has an add rating and $2.60 price target on its shares.
PlaySide Studios Limited (ASX: PLY)
A final small cap ASX share that could be a buy is PlaySide Studios. It is Australia's largest publicly listed video game developer. The company provides titles in a range of categories, including self-published games based on original intellectual property and games developed in collaboration with studios. The latter includes studios such as Disney, Pixar, Warner Bros, and Nickelodeon. PlaySide has also been dabbling, with big success, with NFTs and announced material work for hire deals with a number of games publishing giants. This went down well with the team at Canaccord Genuity, which has put a buy rating and $1.30 price target on its shares.