If you are looking to invest some funds into growth shares this month, then you might want to consider the ones listed below.
I believe these three ASX growth shares are among the best on offer on the share market right now. Here’s why I would buy them:
a2 Milk Company Ltd (ASX: A2M)
The first growth share to look at is A2 Milk Company. It is a New Zealand-based infant formula and fresh milk company with a focus on A2-only products. Over the last few years the company has been growing its earnings at a rapid rate thanks largely to the insatiable demand for its infant formula in China. I expect more of the same in the coming years. This could be supported by new product launches and value accretive acquisitions.
Afterpay Ltd (ASX: APT)
I think this rapidly growing payments company has the potential to be a market-beater over the 2020s. This is thanks to its impressive growth in both the UK and US markets and its expansion into new markets. In addition to this, the ongoing shift to online shopping has been a big boost and looks set to underpin stellar underlying sales and customer growth in FY 2021. Combined with the growing popularity of the payment method and its strong brand, I believe Afterpay is on a path to becoming a giant. This could make it a great buy and hold option.
Pushpay Holdings Group Ltd (ASX: PPH)
A final ASX growth share to consider buying is Pushpay. It is a donor management and community engagement platform provider for the faith sector. Pushpay has been growing at a very strong rate over the last few years thanks to its leadership position in a niche but lucrative market. The good news is that its growth is still only in its infancy. Management has set itself a target to win a 50% share of the medium to large church market in the future. This represents a US$1 billion revenue opportunity and is many times greater than FY 2020’s revenue of US$127.5 million.
This Tiny ASX Stock Could Be the Next Afterpay
One little-known Australian IPO has doubled in value since January, and renowned Australian Moonshot stock picker Anirban Mahanti sees a potential millionaire-maker in waiting…
Because ‘Doc’ Mahanti believes this fast-growing company has all the hallmarks of genuine Moonshot potential, forget ‘buy now pay later’, this stock could be the next hot stock on the ASX.
Doc and his team have published a detailed report on this tiny ASX stock. Find out how you can access what could be the NEXT Afterpay today!
See how you can find out the name of this stock
Returns as of 6th October 2020
More reading
- Has the Afterpay (ASX:APT) share price stalled?
- 2 top ASX 200 blue chip shares worth a spot in your portfolio
- Got $5,000 to invest? Buy these unstoppable ASX shares right now
- 3 ASX shares to buy in a US election selloff
- Why a2 Milk, Afterpay, ARB, & SEEK shares are pushing higher today
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 A2 Milk. The Motley Fool Australia owns shares of AFTERPAY T FPO. 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.
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