3 excellent ASX tech shares

Looking for growth? Check out these tech shares…

| More on:
A man holds up his hand with 3 fingers up

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

If you're looking to add some tech shares to your portfolio, then you may want to look at the shares listed below.

Here's why these ASX tech shares could be top options for growth-focused investors:

Adore Beauty Group Limited (ASX: ABY)

The first ASX tech share to look at is Adore Beauty. Australia's leading online beauty retailer has been growing strongly in recent years thanks to the structural shift online which accelerated during the pandemic. The good news is that with online penetration rates for beauty products still much lower than other categories, Adore Beauty appears very well-positioned to continue its growth over the next decade.

UBS has a buy rating and $5.60 price target on the company's shares.

Life360 Inc (ASX: 360)

Another tech share to look at is Life360. It is the San Francisco-based technology company behind the eponymous Life360 mobile app. This is a market leading app for families, offering features such as communications, driver safety, and location sharing. At the end of June, it had more than 32 million users on its platform. This was over 4 million more than it had just three months earlier.

Credit Suisse has an outperform rating and $10.00 price target on its shares. It is confident the company can exceed its guidance in FY 2021.

Xero Limited (ASX: XRO)

A final ASX tech share to look at is Xero. This cloud accounting and business platform provider has been growing at a rapid rate in recent years thanks to its successful evolution into a full-service solution and the ongoing shift to the cloud. Positively, despite the company now having 2.74 million subscribers, it is still only scratching a the surface of its global market opportunity. For example, 1.56 million or 57% of these subscribers are from the relatively small ANZ market, which demonstrates just how large its market is outside the home market.

Goldman Sachs is very positive on Xero's future. It currently has a buy rating and $165.00 price target on its shares.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and has recommended Life360, Inc. and Xero. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended Adore Beauty Group Limited. The Motley Fool Australia owns shares of and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Growth Shares

A smiling businessman in the city looks at his phone and punches the air in celebration of good news.
Growth Shares

3 ASX growth shares you'll wish you bought in June

Analysts think these shares could be destined for big things in the future.

Read more »

Father and daughter with hands on a small plant.
ETFs

Focused on growth? Here are 3 ASX ETFs to consider

Growth investors must ignore the current market noise about tariffs and focus on the long-term horizon.

Read more »

A female broker in a red jacket whispers in the ear of a man who has a surprised look on his face as she explains which two ASX 200 shares should do well in today's volatile climate
Growth Shares

Top brokers name 3 top ASX growth shares to buy now

Why are brokers feeling bullish on these names? Let's find out.

Read more »

Two plants grow in jars filled with coins.
Growth Shares

3 ASX 200 growth stocks up more than 100% in 1 year that could charge higher

It's been a memorable year for shareholders of these 3 companies.

Read more »

Afterpay share price a happy shopper with a wide mouthed smile holds multiple shopping bags up around her shoulders.
Growth Shares

The pros and cons of buying Zip shares in June

Should investors buy now or wait until later?

Read more »

A smiling woman holds a Facebook like sign above her head.
Growth Shares

3 ASX growth shares I'd buy for the next 10 years

Let's see why these shares could be top picks for the long term.

Read more »

wheelchair user in an office talking on mobile phone
Growth Shares

Why I'd buy this ASX growth share instantly

I’m calling on this stock to deliver strong returns.

Read more »

A happy boy with his dad dabs like a hero while his father checks his phone.
Growth Shares

2 ASX growth shares to buy in June: experts

These businesses have strong growth potential.

Read more »