Analysts tip 10% to 30% returns for these ASX growth shares in 2024

If you have space in your portfolio for some new ASX growth shares, then it could be worth checking out the three listed below.

That’s because they have all recently been named as buys and tipped to rise meaningfully from current levels.

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

Flight Centre Travel Group Ltd (ASX: FLT)

Morgans thinks that Flight Centre could be an ASX growth share to buy right now.

The broker believes the “benefits of FLT’s transformed business model” means that the company is “well placed over coming years.”

Morgans currently has an add rating and $26.00 price target on its shares. This implies potential upside of 20% for investors from current levels.

Life360 Inc (ASX: 360)

Goldman Sachs believes that location technology company Life360 is another ASX growth share to buy right now.

It highlights that the company’s “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.”

In addition, the broker sees “potential structural profitability tailwinds on the horizon from a reduction in effective app store fees.”

Goldman has a buy rating and $10.50 price target on its shares. This suggests potential upside of 34% from current levels.

TechnologyOne Ltd (ASX: TNE)

Goldman Sachs also thinks that enterprise software provider TechnologyOne could be an ASX growth share to buy this month.

Its analysts believe the company is well-placed for growth and trading on attractive multiples. They highlight that “TNE trades at a discount to SaaS peers when adjusting for its growth outlook.”

This is despite its dominant market position, defensive end markets, and mission-critical systems deserving to “command a premium valuation.”

Goldman has a buy rating and $18.05 price target on Technology One’s shares. This would mean 11% upside for investors if the broker is on the money with its recommendation.

The post Analysts tip 10% to 30% returns for these ASX growth shares in 2024 appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• These are the 10 most shorted ASX shares
• Why I think Life360 shares are one of the best bargains out there
• Brokers name 3 ASX shares to buy now
• Is Flight Centre about to regain ASX dividend share status?
• 5 ASX shares I think you can confidently invest $500 in right now

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, and Technology One. The Motley Fool Australia has recommended Flight Centre Travel Group and Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/SC42Fcq