If you are looking to bolster your portfolio with some ASX tech shares, you may want to look at the two listed below that have been tipped as buys by Goldman Sachs.
Here's what the broker is saying about these ASX tech shares:
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Readytech Holdings Ltd (ASX: RDY)
The first ASX tech share that Goldman Sachs has named as a buy is Readytech.
It is a leading provider of mission-critical software-as-a-service (SaaS) solutions for the education, employment services, workforce management, government and justice sectors.
Goldman is very positive on the company's outlook and is forecasting stellar growth in the coming years. So much so, its analysts believe Readytech will deliver on its FY 2026 revenue target of $140 million to $160 million a year earlier than planned in FY 2025. This will be a big jump from FY 2022's revenue of $78.3 million.
In light of this strong growth potential, Goldman Sachs has put a buy rating and $4.30 price target on its shares.
Xero Limited (ASX: XRO)
Another ASX tech that Goldman Sachs rates as a buy right now is Xero.
It is a cloud-based accounting platform provider to small and medium sized businesses globally.
Thanks to the popularity of its offering, the stickiness of its platform, and its global expansion, Xero has been growing its top line and subscriber numbers at a strong rate for years.
The good news is that Goldman notes that even with 3.3 million subscribers, it is still only scratching at the surface of its globally market opportunity. It is partly because of this "compelling global growth story" that Xero is the broker's "preferred large cap technology name in ANZ."
Goldman Sachs currently has a buy rating and $111.00 price target on Xero's shares.
