3 Top-Rated ASX 200 Tech Stocks Recommended as Buys

October 20, 2023 06:25 PM AEDT | By Team Kalkine Media

Google News:

3 Top-Rated ASX 200 Tech Stocks Recommended as Buys — Image source: shutterstock.com

Recent News

What are next big copper projects? UBS tells when equipment makers cou...

EUR/USD poised to rack up more gains as ECB and Fed rate paths set to...

Carney launches ‘One Canadian Economy’ Act to unify trade, approvals

Trump signs orders to enhance drone defenses, support supersonic trave...

The Australian Securities Exchange (ASX) technology stocks may not rival the sheer scale of their Wall Street counterparts, but that doesn't mean you can't find high-quality tech shares within the ASX 200. There are several top-rated ASX technology stocks worth considering. Here, we delve into three tech shares that have received strong buy recommendations:

Altium Limited (ASX: ALU)

Altium stands out as a compelling ASX technology stock to add to your portfolio. The company specializes in electronic design software, offering cutting-edge solutions like Altium Designer and Altium 365 platform. These products are leaders in the field of printed circuit board (PCB) design. Given that PCBs are integral components of virtually all electronic devices, Altium's position is highly advantageous.

Morgan Stanley is among the company's admirers, granting Altium an overweight rating and a $50.00 price target.

Life360 Inc (ASX: 360)

Life360 is another noteworthy ASX technology stock, focusing on location technology. The company has displayed explosive growth in recent years, with expectations of further expansion. Goldman Sachs forecasts continued growth based on the company's potential to tap into the substantial $12 billion global Total Addressable Market (TAM). This involves expanding its product offerings, increasing average revenue per paying circle (ARPPC), enhancing payer conversion, and boosting penetration rates outside the United States.

Goldman Sachs, in light of these prospects, has bestowed a buy rating and set a $10.50 price target on Life360's shares.

TechnologyOne Ltd (ASX: TNE)

TechnologyOne, an ASX 200 tech stock, operates as an enterprise software company offering a cloud-based platform that revolutionizes customer and community interactions for organisations. The company has enjoyed robust demand for its solutions in recent years, resulting in impressive recurring revenue growth.

Goldman Sachs projects that TechnologyOne is well-positioned for continued growth in the coming years and has, therefore, issued a buy rating and a $18.30 price target on the company's shares.

Investors seeking promising ASX technology stocks have a selection of top-rated options worth considering, each with unique strengths and potential for growth.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.