Are you looking to invest in some growth shares in 2021? Then you might want to take a look at the ones listed below.
They have been tipped as buys and tipped for big things in the future. Here’s what you need to know:
Altium Limited (ASX: ALU)
The first growth share to look at is Altium. It is a printed circuit board (PCB) design software provider which is aiming to dominate its industry. Management believes it can achieve this thanks to the quality of its software and especially its new cloud-based Altium 365 platform. If it delivers on this, then the future will be very bright for Altium due to the Internet of Things and artificial intelligence booms. These markets are underpinning exceptionally strong demand for electronic design software and are expected to continue growing strongly for a long time to come. Analysts at Morgan Stanley are confident on its future. They have an overweight rating and $40.00 price target on the company’s shares.
Kogan.com Ltd (ASX: KGN)
This ecommerce company has been performing positively in recent years. However, its growth went to the next level this year when the pandemic accelerated the shift to online shopping. This led to significant customer, sales, and earnings growth in FY 2020 and has continued into the new financial year, even after bricks and mortar stores reopened. Kogan also undertook a capital raising earlier this year. But unlike other companies that needed the funds to ride out the storm, these funds were to make acquisitions. Kogan has just acquired Mighty Ape in New Zealand and could have more value accretive options in its sights. Credit Suisse is a fan of Kogan. It recently put an outperform rating and $20.60 price target on its shares.
Pushpay Holdings Group Ltd (ASX: PPH)
A final growth share to look at is Pushpay. It is a leading donor management and community engagement platform provider for the faith sector. Management has plans to win a 50% share of the US medium to large church market in the future, which represents a US$1 billion opportunity. Given that FY 2020’s revenues increased 32% to US$129.8 million, this clearly shows that still has a very long runway for growth over the 2020s. Due to the quality of its platform and last year’s US$87.5 million acquisition of church management system provider Church Community Builder, analysts at Goldman Sachs appear to believe it can achieve this. The broker has a conviction buy rating and ~$2.59 price target on Pushpay’s shares.
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More reading
- Got cash to invest? Here are 2 ASX shares to buy
- Top brokers name 3 ASX shares to buy next week
- 3 top ASX shares to buy for 2021
- 4 leading ASX growth shares to buy for 2021
- These are the 7 best ASX retail shares in 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 and recommends Altium. 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 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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