Kogan.com Ltd (ASX:KGN) and this highly rated ASX growth share could be the ones to buy now. Here’s what you need to know…
The post 2 highly rated ASX growth shares to buy now appeared first on The Motley Fool Australia. –
If you’re a fan of growth shares, then I have good news for you. The Australian share market is home to a good number of companies growing their earnings at a quick rate.
Two ASX growth shares that could be worth a closer look are listed below. Here’s what you need to know about them:
Kogan.com Ltd (ASX: KGN)
The first ASX growth to look at is Kogan. This leading ecommerce company has been growing at a rapid rate in FY 2021 thanks to the accelerating shift to online shopping. And while the rate that it is growing at will inevitably moderate in the near future, its long term outlook remains very positive.
This is thanks to the structural shift online, its growing customer base, acquisitions and expansions, and increasing Exclusive Brands sales. Credit Suisse is very positive on the company. Its analysts currently have an outperform rating and $20.85 price target on its shares. This compares to the current Kogan share price of $12.47.
Pro Medicus Limited (ASX: PME)
Another growth share to look at is Pro Medicus. It is a leading provider of radiology information systems (RIS), Picture Archiving and Communication Systems (PACS), and advanced visualisation solutions. The company notes that it provides products and services that combine speed, scalability, stability, and smarts. This is to help eliminate administrative tasks and workarounds, optimise the efficiency of clinical and administrative staff, and maximise profits.
Pro Medicus has been growing its earnings at a rapid rate over the last decade. And thanks to increasing demand for its technology from some of the biggest healthcare institutions in the world, it appears well-placed to continue this positive form for the foreseeable future. Goldman Sachs is a fan of the company and recently upgraded Pro Medicus’ shares to a buy rating with a $53.80 price target. The Pro Medicus share price last traded at $43.29.
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*Returns as of February 15th 2021
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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 and recommends Pro Medicus Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd. The Motley Fool Australia has recommended Kogan.com ltd and Pro Medicus Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.