These ASX growth shares could be great options in October

One area of the market which I think is filled with a number of quality options for growth investors is the mid cap space.

But with so many to choose from, which ones should you consider buying?

Three top mid cap ASX shares I believe could be long term market beaters are listed below. Here’s why I rate them:

Bravura Solutions Ltd (ASX: BVS)

Bravura Solutions is the financial technology company behind the Sonata wealth management platform. This platform allows financial advisers to connect and engage with clients via computers, tablets, or smartphones. It counts a number of large financial institutions as customers, which I believe is a testament to its quality. In addition to this, Bravura has been on a bit of an acquisition spree over the last 18 months and has bolstered its portfolio significantly. In fact, just this morning it announced another earnings accretive acquisition in the UK. Combined, I believe the company’s portfolio has positioned it perfectly for growth over the 2020s.

Collins Foods Ltd (ASX: CKF)

Collins Foods is a leading operator of KFC restaurants. It has a growing network across Australia and also in the under-penetrated European market. In addition to this, the company has been rolling out the Taco Bell brand across Australia. If this rollout and its KFC expansion at home and abroad continues successfully, it should underpin solid earnings and dividend growth in the coming years. I think this makes it a great buy and hold option for growth investors.

Jumbo Interactive (ASX: JIN)

Jumbo is the online lottery ticket seller behind the Oz Lotteries website and the Powered by Jumbo software as a service platform. It is the latter business which I expect to be the main driver of its growth in the future. Management certainly appears to believe this will be the case, noting that it is expecting this business to play a key role in the company achieving its target of $1 billion in ticket sales through the Jumbo platform by FY 2022. This will be a significant lift on what it achieved in FY 2020. The good news is that this target is still only a fraction of its assessable opportunity. Earlier this year management estimated that just 7% of the US$303 billion global total addressable market was currently online. And considering how much more efficient it is to sell lottery tickets online instead of in physical locations, I expect more and more lotteries will make the shift over the next decade. This puts its Powered by Jumbo platform in a great position to profit.

More reading

• ASX 200 ends higher, Link (ASX:LNK) share price shoots 24% higher
• ASX 200 Weekly Wrap: Budget, US election sparks 5% surge in ASX shares
• Why the Bravura Solutions (ASX:BVS) share price is one to watch today
• Is the Domino’s (ASX:DMP) share price a buy?
• These were the worst performing shares on the ASX 200 last week

James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Jumbo Interactive Limited. The Motley Fool Australia owns shares of and has recommended Bravura Solutions Ltd and Jumbo Interactive Limited. The Motley Fool Australia has recommended Collins Foods 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.

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