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3 exciting ASX tech shares to buy right now

James Mickleboro
Financial Technology

Over the last five years the tech sector has been a great place to invest.

Since this time in 2015, the S&P/ASX 200 Info Tech index has vastly outperformed the broader market with a return of 101%.

The good news is that I believe this outperformance can continue for some time to come. In light of this, I feel having exposure to the sector would be a very good thing for a portfolio.

With that in mind, here are three tech shares that I would buy right now:

Audinate Group Ltd (ASX: AD8)

Audinate is a provider of hardware and software solutions to the audio/visual (AV) market. The key product in its portfolio is the flagship and award-winning Dante media networking solution. This product eliminates the need for traditional analogue connections by transmitting synchronised audio signals across large distances via IP networks. Growing demand for the product led to Audinate posting a 34% increase in revenue to US$20.3 million in FY 2019. Given the quality of its technology and its sizeable addressable market, I expect its strong growth to continue in FY 2020 and for many years to come.

Bravura Solutions Ltd (ASX: BVS)

Another growing tech company to consider buying is Bravura Solutions. It is a fintech company providing software products and services to the wealth management and funds administration industries. The key product in its portfolio is the Sonata wealth management platform. Sonata is a next generation wealth management administration system which allows users to connect and engage with their clients anytime, anywhere, via computers, tablets, or smartphones. Demand has been growing very strongly in the last few years, leading to Sonata becoming its biggest contributor to earnings. Pleasingly, Sonata still has a significant market opportunity and should be a key driver of growth over the next decade. Furthermore, I expect its growth to be complemented by a number of acquisitions that have opened the door to new and lucrative markets.

Zip Co Ltd (ASX: Z1P)

A final tech share to consider buying is Zip Co. It is a provider of buy now, pay later (BNPL) services online and in store. Thanks to the growing popularity of BNPL with consumers and merchants, Zip Co has been growing at a rapid rate over the last couple of years. The good news is that this has continued in FY 2020. Earlier this month Zip Co released its second quarter update and revealed record quarterly transaction volumes of $562.6 million. This was up 85% year on year and 40% quarter on quarter. I’m confident there will be more of the same over the remainder of FY 2020 and beyond.

The post 3 exciting ASX tech shares to buy right now appeared first on Motley Fool Australia.

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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 ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AUDINATEGL FPO and Bravura Solutions Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2020