Are you interested in adding some ASX growth shares to your portfolio? If you are, you may want to look at the ones listed below.
Here’s what you need to know about these growth shares:
Breville Group Ltd (ASX: BRG)
The first ASX growth share to look at is this leading appliance manufacturer. Its portfolio of brands have been resonating extremely well with consumers for many years thanks to the company’s ongoing investment in research and development. Together with its global expansion and favourable industry tailwinds, Breville has been growing its sales and earnings at a consistently solid rate for many years. The good news is that analysts expect this trend to continue in the future, which could make recent weakness in the Breville share price a buying opportunity.
Morgan Stanley is a very positive on Breville. The broker currently has an overweight rating and $36.00 price target on its shares.
Hipages Group Holdings Ltd (ASX: HPG)
Another ASX growth share that has pulled back recently is Hipages. It is a leading Australian-based online platform and software as a service (SaaS) provider connecting consumers with trusted tradies. There are currently over 30,000 tradies using the platform, which is underpinning strong growth across all its key metrics. In addition, the company just announced the acquisition of New Zealand rival Builderscrack. This opens the door to 4,000 active tradies and a NZ$26 billion total addressable market.
Goldman Sachs is a big fan of Hipages and believes it has a huge market opportunity to grow into in the future. It currently has a buy rating and $4.60 price target on its shares.
Nitro Software Ltd (ASX: NTO)
A final ASX growth share to look at is Nitro Software. It is the document productivity company behind the Nitro Productivity Suite. This suite provides businesses of all sizes with integrated PDF productivity and electronic signature tools. Goldman Sachs initiated coverage on the company last week and is very positive on its future. It commented: “We estimate Nitro can increase its TAM penetration from 0.15% to 1.4% by FY40 implying 9x uplift to Nitro’s current revenue base.”
Goldman has a buy rating and $2.95 price target on its shares.
The post 3 excellent ASX growth shares to buy before it’s too late appeared first on The Motley Fool Australia.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of January 12th 2022
- Analysts name 3 small cap ASX tech shares with major upside potential
- 3 fantastic ASX 200 growth shares to buy
- Here are 3 excellent ASX growth shares for investors in February
- Why Cettire, GrainCorp, James Hardie, and Nitro shares are pushing higher
- 4 fantastic ASX growth shares to buy
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 and has recommended Hipages Group Holdings Ltd. The Motley Fool Australia owns and has recommended Hipages Group Holdings Ltd. The Motley Fool Australia has recommended Nitro Software Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/rzsDuch