3 amazing ASX 200 tech shares to buy before it's too late

MotleyFool
06-14

Australia's tech sector may be a lot smaller than its equivalent on Wall Street, but it's still home to some exceptional businesses.

These companies are driving innovation, expanding globally, and delivering impressive earnings growth.

But which ASX 200 tech shares are buys right now? Let's take a closer look at three that analysts have recently rated as buys. They are as follows:

NextDC Ltd (ASX: NXT)

The first ASX 200 tech share that could be a buy is NextDC. It operates data centres that are critical to the digital economy. As AI adoption, cloud computing, and digital infrastructure requirements continue to soar, demand for high-quality data centre space is booming.

The good news is that NextDC is right in the middle of it. The company is expanding its footprint aggressively with new data centres across Australia and the Asia-Pacific region and has been winning big customer contracts in recent months. One was announced last week for its data centre that is under development in Kuala Lumpur.

With recurring revenue streams and sticky customers, NextDC offers an attractive combination of growth potential and defensive characteristics.

UBS is bullish on NextDC and has a buy rating and $20.20 price target on its shares.

TechnologyOne Ltd (ASX: TNE)

One of the quiet achievers on the ASX, TechnologyOne provides enterprise software for local governments, universities, and other public sector clients. It has steadily transitioned to a software-as-a-service (SaaS) model, and that move is now paying off.

The company recently reported its 16th consecutive year of record profit. This was driven by recurring revenue growth and strong customer retention. And with plans to double its annualised recurring revenue (ARR) to $1 billion by 2030, this ASX 200 share could continue to reward patient, long-term investors.

UBS is also a fan of TechnologyOne and has a buy rating and $42.20 price target on its shares.

WiseTech Global Ltd (ASX: WTC)

WiseTech is a global logistics software company, best known for its CargoWise platform. It helps manage international freight and supply chain operations and serves some of the largest logistics companies in the world. The company also continues to expand into new markets through acquisitions and organic growth.

WiseTech has consistently delivered double-digit revenue and EBITDA growth and appears well-placed to build on this. Especially with global trade volumes recovering and its strong SaaS model.

Morgans has an add rating and $132.40 price target on its shares.

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