While the U.S. share market may be home to many of the world's biggest tech companies, I think the local share market has a few up and coming stars of its own.
Three which are at the top of my watchlist at the moment are listed below. Here's why I like them:
ELMO Software Ltd (ASX: ELO)
This cloud-based talent management software solutions company is certainly one to watch in my opinion. In FY 2017 the company delivered revenue of $17 million, up 26% year-on-year and 4% ahead of its prospectus forecast. Its earnings result was even better, with EBITDA coming in 42% ahead of its forecasts at $1.2 million. Pleasingly, management expects a similarly strong performance in FY 2018.
LiveHire Ltd (ASX: LVH)
LiveHire is a talent technology company focused on the recruitment side of the market. Its recruitment platform has been growing in popularity at an explosive rate and I don't think it is hard to see why. The platform allows its users to create a pool of pre-qualified job candidates that they can access when they need to recruit, saving recruiters both time and money. Unlike ELMO, though, its earnings have yet to really take off. Cash receipts are growing at a strong rate, but at present they fail to justify its market capitalisation in my opinion. I would keep it on your watchlist for now.
Livetiles Ltd (ASX: LVT)
This exciting digital workplace platform provider has made significant progress in the last few months in relation to its aim of gaining a leadership position in the massive artificial intelligence market. This included agreements with Microsoft and Clean Energy Smart Manufacturing Innovation Institute. The Microsoft agreement in particular appears to be a potential game-changer and will see its LiveTiles Bots product promoted to the tech giant's business customers. Its shares are starting to get a touch expensive, though, so investors may want to hold out for a pullback.
