Insights

2 fantastic ASX growth shares to buy

Altium Limited (ASX:ALU) and this fantastic ASX growth share could be great options for investors right now. Here’s what you need to know…
The post 2 fantastic ASX growth shares to buy appeared first on Motley Fool Australia. –

Are you wanting to add a growth share or two to your portfolio? Then you might want to take a look at the ones listed below.

These ASX growth shares have been tipped to deliver strong growth in the future. Here’s what you need to know:

a2 Milk Company Ltd (ASX: A2M)

A2 Milk Company is a leading infant formula and fresh milk company. Over the last few years it has grown its earnings at an exceptionally strong rate thanks to the increasing demand for its premium infant formula in the lucrative China market.

Things have not been as easy for the company this year because of the pandemic. Panic buying and pantry stocking at the height of the pandemic pulled forward sales, reducing demand during the first half of FY 2021. In addition to this, travel bans have impacted the daigou channel and put a dent in its sales.

While this is likely to weigh heavily on its FY 2021 result, management remains confident that this is only a temporary headwind and its growth will resume once trading conditions improve. One broker that agrees is Morgans. It recently put an add rating and $17.28 price target on the company’s shares. It believes the company’s challenges are transitory and feels recent share price weakness is a buying opportunity.

Altium Limited (ASX: ALU)

Altium is a leading printed circuit board (PCB) design software provider. It has also been growing at a very strong rate over the last few years. This has been driven by increasing demand for its software thanks to its exposure to the booming artificial intelligence and Internet of Things markets.

And while the pandemic is also weighing on its performance and will stifle its growth in FY 2021, management remains very bullish on its longer term prospects. At its recent annual general meeting, it reaffirmed its aim of dominating its market and growing its revenue to US$500 million by 2025-26. This will be a 150% increase on FY 2020’s revenue.

At present, analysts at Morgan Stanley have an overweight rating and $40.00 price target on Altium’s 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.

See The 5 Stocks

*Returns as of June 30th

More reading

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 recommends Altium. The Motley Fool Australia owns shares of and has recommended A2 Milk. 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.

The post 2 fantastic ASX growth shares to buy appeared first on Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!