Australia's tech sector may pale in comparison to what can be found on Wall Street. But that doesn't mean there aren't any high-quality ASX 200 tech shares to buy on the local market.
For example, three highly rated tech shares that have been named as buys are listed below. Here's what you need to know about them:
Altium Limited (ASX: ALU)
Altium could be an ASX 200 tech share to buy right now. It is the electronic design software provider behind the Altium Designer and Altium 365 platforms. These are the leaders in the field when it comes to printed circuit board (PCB) design. And given how almost all electronic devices have PCBs inside them, it's a great field to lead.
Morgan Stanley is a fan of the company and has an overweight rating and a $50.00 price target on its shares.
Life360 Inc (ASX: 360)
Another ASX 200 tech share that is highly rated is location technology company, Life360.
It has been growing at an explosive rate in recent years and has been tipped to continue its growth long into the future. This is thanks to its "US$12bn global TAM with a large opportunity to expand its product suite, grow average revenue per paying circle (ARPPC), increase payer conversion, and lift penetration rates outside of the US," according to Goldman Sachs.
It is for this reason that the broker has a buy rating and a $10.50 price target on its shares.
TechnologyOne Ltd (ASX: TNE)
A final ASX 200 tech share that has been named as a buy is Technology One. This enterprise software company's cloud-based platform transforms the way organisations interact with customers and communities. Demand has been very strong for its solution in recent years, which has underpinned stellar recurring revenue growth.
Goldman Sachs believes the company is well-positioned to continue its growth over the coming years. As a result, it has a buy rating and a $18.30 price target on its shares.