Experts name 3 excellent ASX growth shares to buy in April

If you have room in your portfolio for some new ASX growth shares in April, 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 top growth shares:

Megaport Ltd (ASX: MP1)

The first ASX growth share to look at is Megaport. It is a leading global provider of elastic interconnection services, which has been growing at a rapid rate in recent years thanks to the cloud computing boom.

Macquarie believes this strong form can continue and is forecasting explosive earnings growth over the coming years.

As a result, the broker recently retained its outperform rating on Megaport’s shares with an improved price target of $18.00.

TechnologyOne Ltd (ASX: TNE)

The team at Goldman Sachs has tipped enterprise software provider TechnologyOne as an ASX growth share to buy.

The broker thinks that the company is well-positioned for strong long-term growth and highlights that it is trading “at a discount to SaaS peers when adjusting for its growth outlook.” This is despite its market leadership, defensive end markets, and mission-critical systems that it believes deserve to “command a premium valuation.”

Goldman has a buy rating and $18.05 price target on Technology One’s shares.

Xero Ltd (ASX: XRO)

A final ASX growth share that could be a buy in April is Xero. It is a cloud accounting platform provider with an estimated market opportunity of 100 million small to medium sized businesses.

The team at Citi is very positive on the company and still sees plenty of upside for its shares despite their strong gains this year.

The broker currently has a buy rating and $159.00 price target on them.

The post Experts name 3 excellent ASX growth shares to buy in April appeared first on The Motley Fool Australia.

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Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Macquarie Group, Megaport, Technology One, and Xero. The Motley Fool Australia has positions in and has recommended Macquarie Group and Xero. 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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