If you’re planning to add some growth shares to your portfolio in August, then you might want to look at the shares listed below.
All three of these ASX growth shares have been tipped as buys recently. Here’s what you need to know about them:
Hipages Group Holdings Ltd (ASX: HPG)
The first ASX growth share to look at is Hipages. It is a leading Australian-based online platform and software as a service (SaaS) provider. The Hipages platform connects consumers with trusted tradies to simplify home improvement. At the last count, there were over 34,000 tradies using the platform.
Analysts at Goldman Sachs are very bullish on the company’s prospects. The broker believes it has a huge growth runway ahead as its ecosystem builds. Goldman has a buy rating and $4.10 price target on its shares.
Nitro Software Ltd (ASX: NTO)
Another growth share to look at is Nitro Software. It is a software company that is aiming to drive digital transformation in organisations around the world. Its key solution is the Nitro Productivity Suite, which provides integrated PDF productivity and electronic signature tools to customers. Demand has been growing rapidly in recent years and has continued in FY 2021. This is underpinning strong recurring revenue growth and should be boosted by a recent acquisition and integration with Salesforce.
Morgan Stanley is positive on the company. Its analysts currently have an overweight rating and $3.70 price target on Nitro’s shares.
PointsBet Holdings Ltd (ASX: PBH)
A final growth share to look at is PointsBet. It is a sports wagering operator and iGaming provider with operations in the ANZ and US markets. PointsBet has been growing at a rapid rate thanks to the increasing popularity of mobile sports betting and innovative new products. Pleasingly, its growth is only really getting started. This is particularly in the case in the United States where regulation changes are creating huge opportunities.
Goldman Sachs is a big fan of PointsBet due to its massive opportunity in the United States. The broker is tipping the company to grow very strongly during the 2020s. As a result, Goldman currently has a buy rating and $17.20 price target on its shares.
The post 3 stellar ASX growth shares that could be buys in August appeared first on The Motley Fool Australia.
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More reading
- 3 excellent ASX growth shares you need to know about
- ASX 200 edges higher, Crown falls, Pointsbet rises
- Here’s why the PointsBet (ASX:PBH) share price is on the rise
- 3 excellent ASX growth shares analysts love
- 2 exciting ASX tech shares that could be buys
Motley Fool contributor 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 has recommended Hipages Group Holdings Ltd. and Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Nitro Software Limited and Pointsbet Holdings Ltd. 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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