If you are a fan of ASX tech shares, then you will be pleased to know that analysts have recently named a number of them as buys.
Here's what you need to know about these top buy-rated tech stocks:
Gentrack Group Ltd (ASX: GTK)
The first ASX tech share that could be a buy this month is Gentrack.
It is a growing specialist software provider to energy utilities, water companies, and airports. The latter includes providing flight information display systems (FIDS) at airports including Queenstown, Adelaide, and Sydney Airports.
Bell Potter believes the company is well-placed for growth in the coming years. It notes that it "has robust growth prospects attributed to recurring revenue and one-off projects related to digital transformations. Specifically, the emergence of renewables and battery storage is increasing complexity in data management and contributing to the need for modernised IT infrastructure supporting earnings growth for GTK."
The broker currently has a buy rating and $13.90 price target on Gentrack's shares.
Light & Wonder Inc. (ASX: LNW)
Bell Potter also thinks that this global cross platform games company could be an ASX tech share to buy right now.
Its analysts feel that concerns over the Dragon Train litigation has been overdone and created a buying opportunity. They note that "whilst the loss of future Dragon Train revenues is disappointing, our Buy thesis remains predicated on LNW's cross-platform strategy and leading scale producing a portfolio of high-performing games in both land-based and digital markets. As a result, we expect improvement in product quality to strengthen LNW's competitive advantage, supporting higher ROIC."
Bell Potter currently has a buy rating and $180.00 price target on Light & Wonder's shares.
Megaport Ltd (ASX: MP1)
Finally, Megaport could be an ASX tech share to buy this month according to the team at Morgans.
It is a leading provider of elastic interconnection services in data centres across the globe, which has exposure to the cloud computing and artificial intelligence (AI) megatrends.
Morgans notes that the company "operates the largest data centre connection business in the world, connecting to 850 data centres through a fully automated, on-demand telco network. We think it is uniquely placed to help business move data globally and benefit from the growth of data related to both cloud computing and AI."
The broker currently has an add rating and $12.50 price target on the company's shares.
