Best ASX shares to buy in May 2022

The autumn leaves may be red, but experts are tipping plenty of green for these ASX shares.

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With only two months of the 2022 financial year remaining, we asked our Foolish contributors to compile a list of some of the ASX shares experts are saying to buy in May. Here is what the team came up with:

Tristan Harrison: Airtasker Ltd (ASX: ART)

The Airtasker share price has fallen by around 50% over the last half-year, but the company continues to grow its revenue.

In the FY22 third quarter, Airtasker’s revenue surged by 21.2% to $8.6 million, with a positive operating cash flow of $1 million. Gross marketplace volume for the United Kingdom rose by 138% year on year, while the United States posted task growth of 90% quarter on quarter.

Airtasker co-founder and CEO Tim Fung was “super pleased” with this update, despite the impacts of rainfall and flooding in Australia. The business is also currently investing in new segments of the local services economy in Australia.

Morgans rates Airtasker shares as a buy, with a price target of $1.15. This represents over 140% upside to Friday’s closing price of 47 cents.

Motley Fool contributor Tristan Harrison does not own shares of Airtasker Ltd.

Bernd Struben: Aussie Broadband Ltd (ASX: ABB)

Telecommunications company Aussie Broadband has been growing fast. It is now the fifth-largest NBN provider in Australia, with more than 540,000 active broadband services. Aside from its internet services, the company’s other product lines include VOIP (voice over internet protocol), mobile plans, and entertainment bundles.

Aussie Broadband’s half-year earnings results for the six months through to 31 December were strong. Highlights included a revenue leap of 46% year on year alongside a 45% increase in total broadband services.

The Aussie Broadband share price has surged by around 17% so far in 2022, giving it a market capitalisation of $1.33 billion. The company is a relative newcomer to the ASX, having listed on 16 October 2020.

Motley Fool contributor Bernd Struben does not own shares of Aussie Broadband Ltd.

Brooke Cooper: Telstra Corporation Ltd (ASX: TLS)

The Telstra share price hasn’t had the best start to 2022. It’s flopped 3.35% year to date and closed Friday’s session at $4.04.

But, according to Telstra, the company is in for brighter days ahead, and some brokers agree.

The S&P/ASX 200 Index (ASX: XJO) telco has finally pushed past the challenging NBN rollout. It’s also gearing up to kickstart its T25 strategy – which follows on from what Andy Penn called the company’s “ambitious” and “transformational” T22 strategy.

One of T25’s aims is to further support dividends through a number of cost-cutting and value-adding initiatives.

Brokers Credit Suisse, Morgans, Ord Minnett, and Morgan Stanley are all tipping the Telstra share price to reach at least $4.50 in the next 12 months.

Motley Fool contributor Brooke Cooper does not own shares of Telstra Corporation Ltd.

Sebastian Bowen: BetaShares Global Banks ETF (ASX: BNKS)

Inflation has now become a significant concern for many investors. That’s why this ASX exchange-traded fund (ETF) could be worth looking at in May.

Bank shares are often touted as inflation resistant. This is largely thanks to their ability to rapidly change the interest rates they charge and receive for their services.

This ETF from provider BetaSahres holds a collection (59 at the last count) of the world’s largest bank shares. These come from countries such as the United States, Canada, Britain, China, Japan, and others.

In a world of rising inflation, BNKS could be a worthwhile portfolio addition. This ETF also pays a meaty dividend distribution which, on Friday’s closing price of $6.33, was worth a yield of around 4%.

Motley Fool contributor Sebastian Bowen does not own the BetaShares Global Banks ETF.

James Mickleboro: Goodman Group (ASX: GMG)

Goodman Group could be a top option for investors to consider in May. It is one of the world’s leading integrated commercial and industrial property companies, with a portfolio of high-quality properties across the globe. These properties have exposure to growth markets such as e-commerce and logistics and are, unsurprisingly, in high demand. This has underpinned a sky-high occupancy rate and growing rental income for the company.

Pleasingly, with a material development pipeline and demand unabating, Goodman has been tipped to continue its strong growth in the coming years. For example, analysts at Citi now “forecast c. 23% EPS growth in FY22 and c. 19% EPS CAGR from FY21-FY24.”

The broker also sees value in the Goodman share price with its buy rating and price target of $29.50. Goodman shares closed Friday’s session 2.09% higher at $23.98.

Motley Fool contributor James Mickleboro does not own shares of Goodman Group.

The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Aussie Broadband Limited and BetaShares Global Banks ETF - Currency Hedged. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended Airtasker Limited. The Motley Fool Australia has positions in and has recommended Telstra Corporation Limited. The Motley Fool Australia has recommended Aussie Broadband Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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