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2 excellent ASX growth shares that could be buys

Check out these growth shares that analysts rate highly…
The post 2 excellent ASX growth shares that could be buys appeared first on The Motley Fool Australia. –

If you’re looking for some growth shares to add to your portfolio, then you might want to look at the ones below.

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

Kogan.com Ltd (ASX: KGN)

The first growth share to look at is Kogan. It is the ecommerce company behind the Kogan, Dick Smith online, and Mighty Ape brands. It also has a number of complementary businesses such as Kogan Mobile, Kogan Internet, and Kogan Money.

The last 12 months have been very mixed for Kogan. After smashing expectations with meteoric sales and profit growth this time last year, inventory issues undid a lot of this and are set to weigh heavily on its full year results in August.

While this is disappointing, it is worth remembering that these issues are only expected to be temporary. In light of this, investors may want to focus on its strong long term growth prospects thanks to its leading market position and the structural shift online.

Credit Suisse believes the weakness in the Kogan share price this year could be a buying opportunity. It currently has an outperform rating and $17.93 price target on its shares.

WiseTech Global Ltd (ASX: WTC)

Another ASX growth share to look at is WiseTech Global. It is the logistics solutions company behind the popular CargoWise One platform. This platform allows users to execute complex logistics transactions and manage freight operations from a single, easy to use platform.

It has been a very positive performer in FY 2021 despite the pandemic. For example, strong demand led to its first half revenue increasing 16% to $238.7 million and its EBITDA rising 43% to $62.5 million.

Pleasingly, management expects its second half performance to be just as strong and is guiding to full year revenue growth of 9% to 19% and EBITDA growth of 30% to 50%. And despite this growth, WiseTech Global’s revenue will still be only a fraction of the broader Supply Chain Management Expenditure market which is valued at US$15.2 billion.

Morgan Stanley is bullish on WiseTech Global. Its analysts currently have an overweight rating and $35.00 price target on its shares.

The post 2 excellent ASX growth shares that could be buys appeared first on The Motley Fool Australia.

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More reading

ASX 200 Weekly Wrap: COVID wobbles ASX as shares retreat

Here’s how some of the top ASX SaaS shares performed in FY21

Here’s why the Kogan (ASX:KGN) share price is falling on Friday
Why Magellan, Origin, Piedmont Lithium, & WiseTech Global are dropping

ASX 200 midday update: Zip rockets, AMP asset sale

Motley Fool contributor 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 and has recommended Kogan.com ltd and WiseTech Global. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd and WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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