ASX tech shares were among the best performers of the market sectors on Tuesday, lifting 0.23%.
Wilson Asset Management recently released its monthly reports for each of its listed investment companies (LICs).
The reports reveal four ASX tech shares impressing Wilson analysts today.
Here is why they're feeling optimistic about these ASX technology stocks.
4 ASX tech shares with a bright outlook: analysts
Life360 Inc (ASX: 360)
In the May update for WAM Active Limited (ASX: WAA), Wilson analysts discussed the location-tracking software company, Life360.
Life360's 1Q FY25 update exceeded consensus estimates across all key metrics, they said.
Earnings increased by 32%, and the company upgraded its FY25 subscription revenue guidance.
The analysts said:
Additionally, Life360 announced a USD25 million investment in artificial intelligence (AI) safety firm Aura, signaling a strategic move to enhance its product offerings and market position.
We believe the market continues to underappreciate the opportunity within Life360's advertising business, whilst still in its infancy, has the capacity to match the size of the subscription business in the medium-term and expand revenue growth.
The Life360 share price closed at $31.95, up 1.17%.
Catapult Group International Ltd (ASX: CAT)
In the May update for WAM Capital Ltd (ASX: WAM), the analysts said this ASX sports tech solutions provider has several tailwinds.
They said:
Catapult Group International is benefitting from strong structural tailwinds and growing demand for data-driven sports analytics.
The company's management aims to grow the annualised contract value 10 times to approximately USD1 billion.
With a clear land-and-expand strategy, global reach and success in cross-selling, we believe this long-term target is achievable and reflects the company's strong competitive position in a growing market.
The Catapult share price closed at $5.79, up 3.58%.
TechnologyOne Ltd (ASX: TNE)
This ASX tech share is Australia's largest enterprise software-as-a-service (SaaS) company.
The TechnologyOne share price reached an all-time high of $42.88 on 6 June.
The WAM Capital analysts were impressed by TechnologyOne's half-year results, including a 31% rise in net profit after tax to $63 million.
The analysts said:
The company's strong financial results, along with its upgraded full-year profit guidance, strengthened investor confidence and contributed to the notable appreciation in its share price.
TechnologyOne shares finished the session at $40.35, down 0.37%.
WiseTech Global Ltd (ASX: WTC)
In the update for WAM Leaders Ltd (ASX: WLE), the analysts noted WiseTech's acquisition of the supply chain software company, e2open.
They said:
Bolt-on acquisitions are core to WiseTech Global's strategy, and this is their largest acquisition yet, with a purchase price of US$2.1 billion. We are supportive of the deal, given both the strategic rationale and that it is financially accretive.
The analysts said Wisetech is their top ASX tech share pick.
The Wisetech share price closed at $107.37, up 0.2%.
