As we leave a volatile FY22 behind us, many investors will be hoping for a calmer trading environment in the new financial year. Will the ASX share market gain fresh momentum? For their thoughts, we asked our Foolish contributors to compile a list of the ASX shares they reckon could deliver wealth in the years ahead. Here is what the team came up with.
9 best ASX shares for July 2022 (smallest to largest)
- Airtasker Ltd (ASX: ART), $118.8 million
- Kogan.com Ltd (ASX: KGN), $309 million
- Adairs Ltd (ASX: ADH), $329.7 million
- BUBS Australia Ltd (ASX: BUB), $379 million
- Rural Funds Group (ASX: RFF), $994.5 million
- Deterra Royalties Ltd (ASX: DRR), $2.31 billion
- NIB Holdings Limited (ASX: NHF), $3.41 billion
- ResMed Inc. (ASX: RMD), $12.45 billion
- BHP Group Ltd (ASX: BHP), $216.5 billion
(Market capitalisations as of 30 June 2022)
Why our Foolish writers love these ASX shares
Airtasker Ltd
What it does: Airtasker owns an online local services platform that enables people who need a task completed to connect with people who want the work. Examples of task categories include furniture assembly, removalists, website design, handyman services and accounting.
By Tristan Harrison: Volatility in the Airtasker share price has seen it fall more than 60% in 2022. I think this makes the company an attractive investment opportunity when we consider its ongoing growth and potential.
In the FY22 third quarter, Airtasker saw revenue rise by 21.2% to $8.6 million, while also generating $1 million of positive operating cash flow.
It’s rapidly growing internationally, opening up large potential markets. Third-quarter gross marketplace volume in the United Kingdom jumped 138% year-on-year, while posted task growth in the United States rose 90% quarter-on-quarter.
With a gross profit margin of more than 90%, I think this business can become very profitable as it realises scale benefits and doesn’t need to heavily invest for growth.
Motley Fool contributor Tristan Harrison does not own shares of Airtasker Ltd.
