3 highly rated ASX 200 tech shares named as buys

Analysts think that investors should be buying these shares from the tech sector.

| More on:
A businessman looking at his digital tablet or strategy planning in hotel conference lobby. He is happy at achieving financial goals.

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

Australia's tech sector may pale in comparison to what can be found on Wall Street. But that doesn't mean there aren't any high-quality ASX 200 tech shares to buy on the local market.

For example, three highly rated tech shares that have been named as buys are listed below. Here's what you need to know about them:

Altium Limited (ASX: ALU)

Altium could be an ASX 200 tech share to buy right now. It is the electronic design software provider behind the Altium Designer and Altium 365 platforms. These are the leaders in the field when it comes to printed circuit board (PCB) design. And given how almost all electronic devices have PCBs inside them, it's a great field to lead.

Morgan Stanley is a fan of the company and has an overweight rating and a $50.00 price target on its shares.

Life360 Inc (ASX: 360)

Another ASX 200 tech share that is highly rated is location technology company, Life360.

It has been growing at an explosive rate in recent years and has been tipped to continue its growth long into the future. This is thanks to its "US$12bn global TAM with a large opportunity to expand its product suite, grow average revenue per paying circle (ARPPC), increase payer conversion, and lift penetration rates outside of the US," according to Goldman Sachs.

It is for this reason that the broker has a buy rating and a $10.50 price target on its shares.

TechnologyOne Ltd (ASX: TNE)

A final ASX 200 tech share that has been named as a buy is Technology One. This enterprise software company's cloud-based platform transforms the way organisations interact with customers and communities. Demand has been very strong for its solution in recent years, which has underpinned stellar recurring revenue growth.

Goldman Sachs believes the company is well-positioned to continue its growth over the coming years. As a result, it has a buy rating and a $18.30 price target on its shares.

Motley Fool contributor James Mickleboro has positions in Altium and Life360. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Altium, Goldman Sachs Group, Life360, and Technology One. The Motley Fool Australia has recommended Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Technology Shares

A young man punches the air in delight as he reacts to great news on his mobile phone.
Technology Shares

Buy alert: Why this broker just upgraded DroneShield shares

Bell Potter is feeling bullish about this high-flying stock.

Read more »

Delighted adult man, working on a company slogan, on his laptop.
Technology Shares

Macquarie forecasts 25% upside for this ASX All Ords software company

The business signed three new contracts in the June quarter.

Read more »

Man looking happy and excited as he looks at his mobile phone.
Technology Shares

DroneShield shares race higher on 480% revenue surge

It was another explosive quarter for this high-flying stock.

Read more »

A man slumps crankily over his morning coffee as it pours with rain outside.
Technology Shares

Why is the Appen share price crashing 15%?

This AI stock is having a tough time on hump day. But why?

Read more »

A young woman lifts her red glasses with one hand as she takes a closer look at news about interest rates rising and one expert's surprising recommendation as to which ASX shares to buy
Technology Shares

WiseTech share price higher on big news

This tech stock has found its new leader.

Read more »

Man holding a calculator with Australian dollar notes, symbolising dividends.
Technology Shares

$10,000 invested in DroneShield shares 5 years ago is now worth…

You might be laughing all the way to the bank if you had done this.

Read more »

Happy woman working on a laptop.
Technology Shares

Up 60% since April, why this $40 billion ASX 200 tech stock remains a 'compelling buy' today

A leading expert believes this $40 billion ASX 200 tech stock has a lengthy growth runway ahead of it yet.

Read more »

A man holds his head in his hands, despairing at the bad result he's reading on his computer.
Technology Shares

DroneShield shares sink 7% despite big news

Let's see what's going on with this market darling on Thursday.

Read more »