If you are looking for market-beating returns over the next decade, then the three growth shares listed below could be the ones to buy.
I think their strong growth prospects means that investors could at least double their money with them over the next 10 years.
Here’s why I would buy them:
Altium Limited (ASX: ALU)
I think Altium has the potential to deliver very strong returns for investors over the next decade. This is due to its high quality electronic design software, its massive market opportunity, and its exposure to the rapidly growing Internet of Things (IoT) market. This year Altium expects to achieve 50,000 subscribers. After which, it is aiming for 100,000 subscribers by FY 2025. Combined with its other growing businesses such as NEXUS and Octopart, I feel Altium is well-placed to grow its earnings at a rapid rate for many years to come.
Domino’s Pizza Enterprises Ltd (ASX: DMP)
Another great option could be Domino’s Pizza. Its growth other the last few years as been a little up and down, but I remain confident the long term trajectory is upwards. Especially given its same store sales and store expansion goals. Over the next five years the pizza chain operator is aiming to deliver annual same store sales growth of 3% to 6% and annual organic new store additions of 7% to 9%. If it can at least maintain its margins, this should support strong earnings growth over the next decade.
Pushpay Holdings Ltd (ASX: PPH)
A final growth share to buy for market-beating returns is Pushpay. The donor management system provider has just released its full year results and revealed a stunning ~1,500% increase in EBITDAF in FY 2020, The good news is that more strong growth is expected over the next 12 months, with management aiming to double its EBITDAF in FY 2021. But it isn’t about to rest on its laurels any time soon. The company has set itself a target of winning a 50% share of the medium and large church market. This represents a US$1 billion revenue opportunity for Pushpay. This compares to the operating revenue of US$127.5 million it recorded in FY 2020.
And here is a fourth share which you could potentially double your money with this decade. No wonder this leading analyst is urging investors to go all in with it.
One “All In” ASX Buy Alert, that could be one of our greatest discoveries
Investing expert Scott Phillips has just named what he believes is the #1 Top “Buy Alert” after stumbling upon a little-owned opportunity he believes could be one of the greatest discoveries of his 25 years as a professional investor.
This under-the-radar ASX recommendation is virtually unknown among individual investors, and no wonder.
What it offers is an utterly unique strategy to position yourself to potentially profit alongside some of the world’s biggest and most powerful tech companies.
Potential returns of 1X, 2X and even 3X are all in play. Best of all, you could hold onto this little-known equity for DECADES to come
Simply click here to see how you can find out the name of this ‘all in’ buy alert… before the next stock market rally.
Returns as of 6/5/2020
More reading
- 3 top ASX 200 shares every investor should buy
- 3 quality mid cap ASX shares to buy with $3,000
- ASX shares I’d invest $10,000 into today
- How to build good wealth with small investments
- Top brokers name 3 ASX 200 shares to buy right now
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended PUSHPAY FPO NZX. The Motley Fool Australia owns shares of Altium. The Motley Fool Australia has recommended Domino’s Pizza Enterprises Limited. 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 post Double your money with these high quality ASX shares appeared first on Motley Fool Australia.
from Motley Fool Australia https://ift.tt/3fNPEiR
Leave a Reply