3 no-brainer ASX shares to buy under $30

Analysts think these shares are top buys for investors right now.

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A number of the highest quality ASX shares on the local share market trade with share prices above $100.

This includes the likes of Cochlear Ltd (ASX: COH), CSL Ltd (ASX: CSL), REA Group Ltd (ASX: REA), and Xero Ltd (ASX: XRO).

It is worth noting that a company's share price in isolation doesn't indicate that a company is overvalued or not. Brainchip Holdings Ltd (ASX: BRN) is arguably the most overvalued stock on the Australian share market with a share price of 32 cents.

However, one disadvantage with ASX shares that have large share prices is that it can be difficult to purchase them if you're operating on a budget of say $500.

For example, two CSL shares will set you back $570 and two Cochlear shares will cost you $684.

The good news is that there are a number of ASX shares trading under $30 that could be no-brainer buys according to analysts. Three are named below:

Life360 Inc (ASX: 360)

This rapidly growing location technology company's shares are currently changing hands for $7.77. This means you could buy 65 shares with a $505.05 investment.

Goldman Sachs is very bullish on the company's growth outlook. So much so, it has a buy rating and $10.50 price target on its shares.

If Life360's shares were to rise to that level, your 65 units would be worth $682.50.

ResMed (ASX: RMD)

This sleep disorder treatment could be a top ASX share to buy on a budget. With a share price of $27.85, it would cost you $501.30 to buy 18 units.

Morgans has named the company as one of its best ideas this month with an add rating and $32.82 price target.

If this recommendation proves accurate, your 18 ResMed shares would be worth $590.76.

Treasury Wine Estates Ltd (ASX: TWE)

Wine giant Treasury Wine could be an ASX share to buy right now. With a $502.66 investment you could pick up 41 units.

Morgans is also a big fan of the company and has an add rating and $14.03 price target on its shares. This price target values your 41 Treasury Wine shares at $575.23.

Motley Fool contributor James Mickleboro has positions in CSL, Life360, ResMed, Treasury Wine Estates, and Xero. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Cochlear, Goldman Sachs Group, Life360, REA Group, ResMed, and Xero. The Motley Fool Australia has positions in and has recommended ResMed and Xero. The Motley Fool Australia has recommended CSL, Cochlear, REA Group, and Treasury Wine Estates. 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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