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Date : 08/09/2021

Top 2 ASX Tech Stocks To Buy In September 2021

Top 2 ASX Tech Stocks To Consider in September 2021

Australian shares including tech stocks closed the session lower for the first time this week amid a fall in the equity markets. This was sparked by concerns about the outlook for the US economy. The ASX 200 dropped by 18.3 points, 0.2% down to 7,512. The pullback was more than erasing the small gains made at the start of the week. Monday was a holiday in the US. Before the long weekend, the US jobs report had revealed a weaker-than-expected recovery in the labour market. Furthermore, concerns about the COVID-19 delta variant continue to weigh on the effort of reopening the economy. The losses recorded on the ASX 200 were largely led by blue-chip stocks and the gold miners. Thus, stocks with economic exposure to the US were among those affected. Explore our insights on ASX Tech Stocks for better investments.

Our List of Tech Stocks to Consider in September 2021

Nevertheless, there are plenty of opportunities to catch on the market. If you are looking for growth shares to buy, then the tech sector could be a great place to consider. At this side of the market, there are numerous companies with the potential to grow significantly. We have picked out two top ASX Tech Stocks options that are rated highly. Here is what you need to know about them:

Nitro Software Ltd (ASX: NTO)

One of the hot software stocks right now is Nitro. It is a software company that aims to drive digital transformation in organisations with its Productivity Suite. This software suite provides integrated PDF productivity and electronic signature tools to customers through a software-as-a-service. Moreover, Nitro offers a desktop-based software solution. These amazing software suites are successful. Although, we have seen demands for Nitro’s offering increasing from businesses of all sizes.

Consequently, FY21 has been again, a year of revenue growth for the company. During the first half of the financial year, Nitro achieved a 56% increase in its annualised recurring revenue to US$33.8 million. Hence, this puts it on track to achieve its FY21 guidance, targeting US$39 million to US$42 million.

The recent pullback offers a great opportunity given the current share price at $3.3.

Xero Ltd (ASX: XRO)

Another hot tech stock to consider is Xero. Xero provides a cloud accounting solution for small businesses. The software enables SME owners to run their business efficiently on the go by uploading their banking transactions and invoices. Thus, that is a fantastic solution valued by many clients. On top of that, Xero reconciles the transactions and provides its clients with accounting services for a subscription fee.

The last month was a great month for Xero. Actually, the cloud-based firm saw its stock appreciated by almost 10% since early August to $152.98 per share. The outperformance has been driven by a positive reaction to the launch of its app store.

Xero launched its App Store across the ANZ and the UK markets. This is part of the company’s plan to streamline and simplify access to the thousands of apps currently available in its ecosystem. This App Store has a similar model to Apple and Google App store. It charges a 15% fee for app subscriptions purchased through its store.

We see this as a positive step from Xero. So far, we like the idea of increasing focus on monetising its strong market positions within the ANZ and the UK markets. Accordingly, we think that the incremental revenues will boost Xero to accelerate its ongoing global expansion.

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