With a new month upon us, now could be an opportune time to look at your portfolio and see if there are any additions that could take it to the next level.
To help you on your way, I’ve picked out three top ASX growth shares that I believe are well-placed to be market beaters over the coming years.
Here’s why I think it would be worth adding them to your portfolio in August:
Bubs Australia Ltd (ASX: BUB)
The first growth share to consider buying in August is Bubs. It is a growing infant formula, baby food, and vitamins company which could be destined for big things. It has been growing its sales at a strong rate over the last few years and looks well-positioned to continue this positive trend in the coming years. This is especially the case given increasing demand on Chinese ecommerce platform, it launch into the vitamins market, and its expanded supply agreements with Coles Group Ltd (ASX: COL) and Woolworths Group Ltd (ASX: WOW) supermarkets. It released its fourth quarter update today, which can be found here.
Nearmap Ltd (ASX: NEA)
Nearmap is a leading aerial imagery technology and location data company. Its products allow users to conduct accurate virtual site visits without needing to leave the home or office. This ultimately enables informed decisions, streamlined operations, and, importantly, significant cost savings. Given the quality of its software and the highly fragmented market it operates in, I believe it is well-positioned to grow its recurring revenues materially in the coming years.
Pushpay Holdings Group Ltd (ASX: PPH)
Another ASX growth share to consider buying is Pushpay. It is a rapidly growing donor management platform provider with a strong presence in the U.S. market. Although it has grown very strongly in recent years, I believe it still has the potential to grow materially over the next 10 years. Especially with management targeting a 50% share of the medium to large church market. This represents a US$1 billion per year revenue opportunity, which is many multiples more than the US$127.5 million revenue it delivered in FY 2020. Given the quality of its product and its leadership position in the industry, I expect Pushpay to deliver on its targets.
5 stocks under $5
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
- Why Bubs, IAG, Star Entertainment, & Webjet shares are dropping lower
- 2 ASX tech shares to buy and hold beyond 2025
- Bubs share price sinks lower on Q4 update and new product launch announcement
- These are the 10 most shorted shares on the ASX
- 3 stellar ASX tech shares I would buy in August
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 PUSHPAY FPO NZX. The Motley Fool Australia owns shares of and has recommended BUBS AUST FPO and Nearmap Ltd. The Motley Fool Australia owns shares of COLESGROUP DEF SET and Woolworths Limited. The Motley Fool Australia has recommended PUSHPAY FPO NZX. 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 Why I would buy Pushpay and these ASX growth shares in August appeared first on Motley Fool Australia.
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