Zip (ASX:Z1P) and these ASX tech shares are rated as buys

Looking for tech shares? Check out these shares…

| More on:
Three excited business people cheer around a laptop in the office

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 a bit of tech exposure to your portfolio, then you might want to look at the shares listed below.

Here's why these tech shares could be top options:

Nitro Software Ltd (ASX: NTO)

The first tech share to look at is this fast-growing global document productivity software company. Nitro's cloud-based software allows organisations to drive better business outcomes through 100% digital document processes and fast, efficient workflows. At the last count, the company had over 2.8 million licensed users and 12,000+ business customers in 155 countries. This helped underpin a 50% increase in its annual recurring revenue during the third quarter.

In response to that update, Bell Potter retained its buy rating and lifted its price target to $4.50.

PointsBet Holdings Ltd (ASX: PBH)

Another tech share to consider is PointsBet. It is a sports wagering operator and iGaming provider offering innovative sports and racing betting products and services via a scalable cloud-based platform. It has been growing at a rapid rate over the last few years thanks to its growing customer base in both the ANZ and US markets. Pleasingly, this positive form is expected to continue, with Goldman Sachs forecasting very strong growth over the coming years as its US expansion gathers pace. This expansion will be supported by its game-changing deal with US sports broadcaster NBCUniversal.

Goldman currently has a buy rating and $12.79 price target on the company's shares.

Zip Co Ltd (ASX: Z1P)

A final tech share to look at is Zip. Thanks to the ever-increasing popularity of the buy now pay later (BNPL) payment method with consumers and merchants, Zip has been growing at a rapid rate in recent years. Pleasingly, this has continued in FY 2022. Following a strong first quarter, Zip delivered a record month in October. It reported over $770 million in transaction volume for the month, which was a 94% increase on the prior corresponding period. It also annualises at over $9 billion. This is still only a fraction of its global market opportunity.

Shaw and Partners is very bullish on Zip. The broker believes Zip's shares trade on undemanding multiples. In light of this, its team has a buy rating and lofty $16.10 price target.

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 Pointsbet Holdings Ltd and ZIPCOLTD FPO. The Motley Fool Australia has recommended Nitro Software Limited and Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Technology Shares

Broker looking at the share price.
Technology Shares

Can the Xero share price deliver a 17% return after the US acquisition?

Can investors generate strong returns after Xero’s US acquisition?

Read more »

A corporate female in a suit stands in front of a huge holographics virtual reality screen with shapes and lights and pictures
Technology Shares

Bell Potter names the best ASX tech stocks to buy in FY 2026

Looking for tech sector exposure? These shares could be worth considering.

Read more »

Man on computer looking at graphs
Technology Shares

$8,000 invested in Xero shares 1 year ago is now worth…

Xero shares have raced ahead of the benchmark over the past year.

Read more »

A man holds his hand under his chin as he concentrates on his laptop screen and reads about the ANZ share price
Technology Shares

How could WiseTech Global shares be impacted by its new model?

The company wants to be the operating system for global logistics.

Read more »

A woman on a green background points a finger at graphic images of molecules, a rocket, light bulbs and scientific symbols as she smiles.
Technology Shares

What's the latest for ASX tech stocks?

One main theme continues to elevate itself in the ASX tech sector.

Read more »

Man ponders a receipt as he looks at his laptop.
Technology Shares

Xero shares in focus: here's Macquarie's take on the $3.8 billion Melio acquisition

Are investors making a costly mistake selling Xero shares today?

Read more »

Man on his laptop standing next to data centres.
Broker Notes

Macquarie tips 54% upside for NextDC shares

NextDC shares certainly have momentum.

Read more »

A group of people gathered around a laptop computer with various expressions of interest, concern and surprise on their faces. All are wearing glasses.
Technology Shares

Guess which ASX 300 tech stock is making a 'cutting-edge' US$28m acquisition

What is this tech stock buying? Let's find out.

Read more »