With the market still down significantly from its high, there's no better time to take a look at your portfolio and see if there is room for a few additions.
One area of the market which I continue to believe has a large number of quality options for investors to choose from is the mid cap space.
Three top mid cap shares which I think are worth considering are listed below:
Bravura Solutions Ltd (ASX: BVS)
Bravura is a leading provider of software products and services to the wealth management and funds administration industries. I think it has excellent long term growth potential due to the massive market opportunity of its Sonata wealth management platform and recent acquisitions such as Midwinter for $50 million. The latter is expected to provide a new avenue for growth in an industry benefiting from structural tailwinds. And while its immediate term growth is likely to be impacted by the coronavirus pandemic, I believe this is reflected in its share price.
Nearmap Ltd (ASX: NEA)
Nearmap is a leading aerial imagery technology and location data company. Over the last few years it has been experiencing increasing demand for its services in both Australia and North America. This led to the company delivering explosive sales growth over the period. Unfortunately, its growth has taken a hit this year from the loss of major customers and the pandemic. However, given the quality of its product and its massive market opportunity, I'm confident this is just a temporary blip and its long term outlook is as positive as ever.
Zip Co Ltd (ASX: Z1P)
Another mid cap share to consider is Afterpay Ltd (ASX: APT) rival Zip Co. The fast-growing buy now pay later platform provider was a standout performer in FY 2019 when it reported a massive 108% lift in transaction volume and a 138% increase in revenue. Pleasingly, this strong form has continued in FY 2020. Zip Co recently revealed third quarter revenue of $45 million, up 96% on the prior corresponding period and 17% quarter on quarter. Another positive was that its quarter on quarter growth continued early on in April despite the pandemic. Looking ahead, I believe it still has a long runway for growth in the future thanks to new verticals, its international expansion, and the growing popularity of the payment method with consumers.
