Australian growth investors certainly are lucky. Right now, I believe there are a great number of growth shares that could provide investors with strong returns over the next decade.
Three which I think are well worth considering are listed below. Here’s why I think they could be future market beaters:
Bravura Solutions Ltd (ASX: BVS)
Bravura Solutions is the financial technology company behind the Sonata wealth management platform. This popular platform is used in the wealth management and funds administration industries to connect and engage with clients via computers, tablets, or smartphones. Demand for the platform has been growing very strongly in the past few years and shows no signs of slowing. Combined with recent acquisitions that open the company up to new and lucrative markets, I believe Bravura is well-positioned to deliver solid long term earnings growth.
Nearmap Ltd (ASX: NEA)
Another ASX growth share to consider buying is Nearmap. It is an aerial imagery technology and location data company with operations in the ANZ and North American markets. These two regions currently provide Nearmap with a total addressable market (TAM) of $2.9 billion per year. This is materially more than the annualised contract value (ACV) of $103 million to $107 million it expects to achieve in FY 2020. Given the fragmented nature of the market and its high quality offering, I believe Nearmap can capture a growing slice of this market over the next decade. It also has the option to increase its TAM by expanding into other territories in the future.
Zip Co Ltd (ASX: Z1P)
A final growth share to consider buying is Zip Co. I’ve been very impressed with the performance of the buy now pay later provider over the last couple of years and particularly during the pandemic. In respect to the latter, Zip Co has continued to deliver rapid sales and customer growth over the last few months. I’m confident there will be more of the same in the future due to the growing popularity of the payment method and its expansion internationally.
And here are more exciting shares which could be stars of the future…
One trick to potentially generating life-changing wealth from the stock market is to buy early-stage growth companies when their share prices still look dirt cheap.
Motley Fool’s resident tech stock expert Dr. Anirban Mahanti has identified 5 stocks he thinks are screaming buys. And you can buy them now for less than $5 a share!
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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 Bravura Solutions Ltd, Nearmap Ltd., and ZIPCOLTD FPO. The Motley Fool Australia has recommended Bravura Solutions Ltd and Nearmap Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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