Here’s why analysts are tipping these ASX growth shares as buys

Looking for some growth shares to buy this week? Then take a look at the three listed below that are rated as buys.

Here’s what you need to know about these growth shares:

Aristocrat Leisure Limited (ASX: ALL)

The first ASX growth share to look at is Aristocrat Leisure. It owns a portfolio of popular world class poker machines and mobile games. In addition, management is planning an expansion into the potentially lucrative real money gaming market. Combined with its share buyback, this all bodes well for its earnings per share growth in the coming years.

Morgans is a fan of the company and has an add rating and $43.00 price target on its shares. The broker said: “It has delivered revenue growth of 17% pa over the past five years and 80% of revenue in FY21 was recurring. We expect ALL to continue to take market share in all its product segments.”

Life360 Inc (ASX: 360)

Another ASX growth share that has been tipped as a buy is Life360. It is the company behind the popular Life360 app, which is the world’s leading real time, location-sharing app used by families to stay safe and communicate. At the last count, there were over 30 million monthly active users on its platform.

Bell Potter is positive on Life360 and has a buy rating and $7.50 price target on its shares. It notes that the company “has the potential to leverage its large and growing user base to enter new markets and disrupt the legacy incumbents.” This includes “insurance, item & pet tracking, senior monitoring, home security and/or identity theft.”

Nitro Software Ltd (ASX: NTO)

Another ASX growth share that analysts rate highly is Nitro Software. It is a technology company that provides businesses of all size with integrated PDF productivity and eSignature tools via the Nitro Productivity Suite.

Goldman Sachs is very bullish on Nitro due to its strong growth potential. As a result, it currently sees “NTO as an attractive long-term growth opportunity at a discounted valuation.” Goldman has a buy rating and $2.35 price target on the company’s shares.

The post Here’s why analysts are tipping these ASX growth shares as buys appeared first on The Motley Fool Australia.

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More reading

• Has a turnaround already begun for ASX tech shares? Experts reveal the outlook for FY23
• Why is the Life360 share price soaring 12% today?
• Here are 3 excellent ASX growth shares for investors to buy in July
• 2 appealing ASX All Ords growth shares getting discounted today
• Could there be another 19% upside to the Aristocrat Leisure share price?

Motley Fool contributor James Mickleboro has positions in Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360, Inc. 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 Scott Phillips.

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