2 must-buy ASX growth shares to buy in November

This is why I think Pushpay Holdings Group Ltd (ASX:PPH) and this ASX growth share would be great options for investors in November…
The post 2 must-buy ASX growth shares to buy in November appeared first on Motley Fool Australia. –

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If you’re looking to add some growth shares to your portfolio in November, then you might want to take a look at the ones listed below.

I believe they are among the best on the market and destined to deliver strong earnings growth over the 2020s.

Here’s why I rate them highly:

a2 Milk Company Ltd (ASX: A2M)

A2 Milk Company is a growing dairy company best known for its a2 Platinum infant formula range. It has been a big seller in China due to its premium brand and its use of milk from cows that have been specially selected to naturally produce milk with only the A2 beta-casein protein type. This protein is believed to be easier to digest than milk with both A1 and A2 proteins.

Although its sales in China have ballooned over the last few years, it is worth noting that its market share in the country is still very modest. I believe it has the potential to win a greater market share over the 2020s. Especially given its expanding distribution footprint through mother and baby stores and its strong presence on Chinese ecommerce platform.

Combined with its growing fresh milk footprint and potential acquisitions, I believe a2 Milk Company can grow its earnings at an above average rate over the next decade. Though, it is worth noting that FY 2021 is likely to be subdued due to COVID impacts.

Pushpay Holdings Group Ltd (ASX: PPH)

A second ASX growth share to buy is Pushpay. It is a donor management and community engagement platform provider for the faith sector. Its platform makes donating a seamless experience for both the giver and the receiver. Unsurprisingly, given the shift to a cashless society, this has been well-received by churches in the United States and led to a surge in customer numbers over the last few years.

This has underpinned very strong sales and earnings growth and shows no signs of slowing any time soon. In FY 2021, Pushpay is expecting to more than double its operating earnings once again. After which, it has its eyes on winning a 50% share of the medium to large church market in the future. Management estimates this to be a US$1 billion opportunity, which is almost 7 times greater than the revenue it generated in FY 2020.

Pushpay is due to hand in its interim report later this week, so investors may want to hold out for that release before investing. Though, I’m confident the company will smash expectations during the first half.

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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 PUSHPAY FPO NZX. The Motley Fool Australia owns shares of and has recommended A2 Milk. The Motley Fool Australia has recommended PUSHPAY FPO NZX. 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 must-buy ASX growth shares to buy in November appeared first on Motley Fool Australia.

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