I’m a big fan of investing in growth shares, so feel quite fortunate to have such a large number of them to choose from on the local market.
Amongst the numerous high quality options available to investors, I think the three listed below are up there with the best of them right now.
Here’s why I think growth investors ought to buy them:
Altium Limited (ASX: ALU)
The first ASX growth share to consider buying is Altium. I believe the electronic design software company has an incredibly positive long term outlook thanks to the increasing demand for its award-winning printed circuit board (PCB) design platform. This platform has exposure to the rapidly growing Internet of Things (IoT) market. According to IDC, it estimates that there will be 41.6 billion connected IoT devices generating 79.4 zettabytes of data in 2025. As the majority of IoT devices have PCBs inside them, I feel this bodes well for its earnings growth in the future.
Bravura Solutions Ltd (ASX: BVS)
Another growth share to consider buying is Bravura Solutions. It is a fast-growing provider of software and services to the wealth management and funds administration industries. I’ve been very impressed at the way the company has been performing in recent years and particularly its Sonata wealth management platform. This platform has been growing at a very strong rate and looks set to continue doing so over the coming years thanks to its quality and large global market opportunity. It should be bolstered by recent acquisitions that have opened up the company to new markets.
ResMed Inc. (ASX: RMD)
A third growth share to consider buying is this leading developer of sleep treatment products. I think ResMed shares could be long term market beaters due to its strong earnings growth potential thanks to its industry-leading products and its large market opportunity. In respect to the latter, management estimates that there are 1 billion people impacted by sleep apnoea worldwide. However, the majority of these people are undiagnosed and potentially at risk of life-threatening conditions. If a greater proportion of these people are diagnosed over the coming years, then sales of its products could increase materially.
We hear it over and over from investors, “I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I’d be sitting on a gold mine!” And it’s true.
And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!
*Extreme Opportunities returns as of June 5th 2020
More reading
- Top brokers name 3 ASX shares to buy next week
- Is Altium a millionaire maker share at this price?
- How I’d build a $100,000 ASX portfolio of growth shares
- Are these the best ASX tech shares to buy right now?
- Top ASX dividend shares to buy in July 2020
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Altium. The Motley Fool Australia owns shares of and has recommended Bravura Solutions Ltd. The Motley Fool Australia has recommended ResMed Inc. 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 Want to beat the market? Try these 3 ASX growth shares appeared first on Motley Fool Australia.
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