While the recent volatility in the tech sector is disappointing, it could be providing investors with an opportunity to pick up some ASX 200 tech shares at attractive prices.
For example, three tech shares that analysts think could offer double-digit returns are listed below.
Here's why they could be good options for a $2,000 or less investment in the sector:
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Life360 Inc (ASX: 360)
Life360 is a technology company aiming to deliver peace of mind for families. Its category leading mobile app and Tile tracking devices help users protect the people, pets, and things they care about most, with a range of services including location sharing, safe driver reports, and crash detection with emergency dispatch.
Its Life360 app certainly is popular. At the last count, the company had a whopping 61 million monthly active users (MAU) located in more than 150 countries. These users are generating significant recurring revenue, which is likely to get even stronger now that management is launching an advertising business.
Bell Potter is a big fan of the company and has a buy rating and $14.50 price target on its shares.
WiseTech Global Ltd (ASX: WTC)
Another ASX 200 tech share to look at for a $2,000 investment is WiseTech Global. It is a leading developer and provider of software solutions to the logistics execution industry globally. Its customer base includes over 17,000 logistics companies across 181 countries. This includes 45 of the top 50 global third-party logistics providers and all the 25 largest global freight forwarders worldwide.
The key product in its portfolio is CargoWise, which allows uses to execute complex logistics transactions and manage freight operations from a single, easy to use platform.
Analysts at UBS currently have a buy rating and $102.00 price target on the company's shares.
Xero Ltd (ASX: XRO)
Finally, Xero could be another ASX 200 tech share to buy following recent weakness.
It is a global small business platform with approximately 4 million subscribers using its technology for accounting solutions, payroll, workforce management, expenses, and projects.
In addition, Xero has an extensive ecosystem of connected apps and connections to banks and other financial institutions. This gives small businesses access a range of solutions from within Xero's open platform to help them run their business and manage their finances.
Analysts at Goldman Sachs are feeling very positive about the company's long-term outlook. As a result, they recently put a buy rating and $152.00 price target on its shares.
