If you’re currently searching for a few shares to add to your portfolio in 2021, then you could do a lot worse than the ones listed below.
Here’s why these ASX shares come highly rated right now:
Afterpay Ltd (ASX: APT)
Afterpay is a payments company that has been growing at a rapid rate over the last few years. This has been driven by the growing popularity of the buy now pay later payment method with consumers and retailers and its successful international expansion.
Pleasingly, this strong growth has not only continued in 2020, but accelerated thanks to the shift to online shopping because of the pandemic.
One broker that appears confident its strong growth can continue is Credit Suisse. Last week it initiated coverage on the company with an outperform rating and $124.00 price target.
Kogan.com Ltd (ASX: KGN)
Kogan is one of Australia’s leading ecommerce companies. Like Afterpay, it has been a big winner from the shift to online shopping. This has seen Kogan record a significant jump in active customers and an even greater lift in sales and earnings.
And with more and more spending expected to shift online in the future, Kogan looks well-positioned to benefit. It is also looking to boost its growth with earnings accretive acquisitions. One of these was announced recently with the acquisition of New Zealand-based Mighty Ape.
Analysts at Credit Suisse were pleased with this acquisition and upgraded Kogan’s shares to an outperform rating with a $20.60 price target.
Pushpay Holdings Group Ltd (ASX: PPH)
Pushpay is a fast-growing donor management platform provider. It has been growing its share of the massive United States market at a rapid rate over the last few years. This has underpinned stellar revenue and operating earnings growth.
The good news is this has continued in 2020, with Pushpay recently reporting explosive growth in the first half of FY 2021. Its half year results revealed a 53% increase in operating revenue to US$85.6 million and an even more impressive 177% jump in EBITDAF to US$26.7 million.
Looking ahead, the company has a significant market opportunity to grow into and is targeting US$1 billion in revenue later this decade. Goldman Sachs believes it is well-positioned for growth and has a conviction buy rating and $10.35 price target (now $2.59 after its 4-1 share split) on its shares.
Where to invest $1,000 right now
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Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
More reading
- Why the ASX tech share rally can run well into 2021
- 3 compelling ASX payment shares to buy
- 5 things to watch on the ASX 200 on Thursday
- Top brokers name 3 ASX shares to buy today
- Why Afterpay, Creso Pharma, Healius, & Resonance Health shares are storming higher
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 Kogan.com ltd and PUSHPAY FPO NZX. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Kogan.com ltd and PUSHPAY FPO NZX. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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