Brokers say these explosive ASX growth shares are buys with massive upside

Looking for some ASX growth shares to buy? If you are, then it could be worth considering the three listed below.

Both have been named as buys by brokers and tipped to rise strongly from current levels. Here’s what you need to know about them:

Life360 Inc (ASX: 360)

The first ASX growth share for investors to look at is Life360.

It is a Silicon Valley-based technology company with a focus on products and services for digitally native families.

The company’s key product is the eponymous Life360 app, which has almost 60 million active users. It offers features such as communications, driver safety, and location sharing.

Goldman Sachs is a big fan of the company, noting that it is “exposed to a US$12bn global TAM with a large opportunity to expand its product suite, grow average revenue per paying circle (ARPPC), increase payer conversion, and lift penetration rates outside of the US.”

The broker currently has a buy rating and $10.50 price target on its shares, which suggests potential upside of 42%.

Megaport Ltd (ASX: MP1)

Analysts at Macquarie still see material upside potential for this ASX growth share despite its recent gains.

The broker appears to believe that the stars are aligning for the leading global provider of elastic interconnection services and is tipping explosive earnings growth over the coming years.

It is for this reason that the broker reiterated its outperform rating on Megaport’s shares at the end of last month with an improved price target of $15.50. This implies potential upside of 22% for investors.

TechnologyOne Ltd (ASX: TNE)

Another ASX growth share that Goldman Sachs is a big fan of is enterprise software provider TechnologyOne.

Goldman believes the company “is well placed to meet its A$500mn FY26 ARR target through a combination of SaaS flip uplift, net expansion and new customer growth.” It expects this and margin expansion to “drive a mid-high teens EPS CAGR to FY26E.”

Goldman has a buy rating and $18.05 price target on its shares. This would mean upside of 13% for investors.

The post Brokers say these explosive ASX growth shares are buys with massive upside appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Life360, Macquarie Group, Megaport, and Technology One. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Megaport and Technology One. 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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