If you’re wanting to boost your portfolio with some quality growth shares, then you might want to take a look at the ones listed below.
Here’s why these quality ASX growth shares have been tipped as ones to buy right now:
Domino’s Pizza Enterprises Ltd (ASX: DMP)
The first ASX growth share to look at is this pizza chain operator. Domino’s has been growing at a strong rate over the last decade thanks to consistent like for like sales growth and the expansion of its store network footprint.
Positively, this strong form has continued in FY 2021. Last month Domino’s released its half year results and revealed a 16.5% increase in total global food sales to $1.84 billion.
While its top line growth was impressive, its bottom line was even more so. Thanks to operating leverage, Domino’s delivered a sizeable 32.8% increase in underlying net profit after tax to $96.2 million.
But perhaps best of all, is that management is expecting an even stronger performance in the second half. In light of this, Domino’s looks set to deliver a bumper full year profit in FY 2021.
Analysts at Macquarie are confident this will be the case. As a result, they have put an outperform rating on its shares and lifted their price target to $120.20.
Kogan.com Ltd (ASX: KGN)
Another ASX growth share that is highly rated is Kogan. Like Domino’s, this ecommerce company has been in fine form during FY 2021.
For example, during the first half of FY 2021, Kogan reported a 96% increase in gross sales and a 140% jump in earnings before interest, tax, depreciation and amortisation (EBITDA).
This strong growth was driven by a surge in customer numbers, increased repeat customer rates, acquisitions, and the accelerating shift to online shopping.
One broker that believes Kogan is well-placed for growth over the long term is Credit Suisse. At the start of the month its analysts put an outperform rating and $21.08 price target on its shares.
Where to 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 more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of February 15th 2021
More reading
- 2 ASX dividend shares to buy in April
- $10,000 invested in the Kogan (ASX:KGN) IPO is worth how much today?
- Got money to invest? Here are 2 ASX shares to buy
- 2 great value ASX growth shares to buy today
- Is Temple & Webster (ASX:TPW) the best e-commerce ASX share to buy right now?
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited and Kogan.com ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post 2 highly-rated ASX growth shares to buy appeared first on The Motley Fool Australia.
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