2 of the best ASX growth shares to buy in April

Afterpay Ltd (ASX:APT) and this ASX growth share could be among the best options on the ASX in April. Here’s why…
The post 2 of the best ASX growth shares to buy in April appeared first on The Motley Fool Australia. –

hand selecting happy face from choice of happy, sad and neutral signifying best ASX shares

The Australian share market hosts a large number of quality growth shares. In fact, there are so many to choose from, it can be difficult to know which ones to buy.

To narrow things down, I have picked out two ASX growth shares that are highly rated. Here’s why they could be top options in April:

Afterpay Ltd (ASX: APT)

One ASX growth share to consider buying is this buy now pay later (BNPL) giant. Especially given the recent pullback in the Afterpay share price which has been driven by weakness in the tech sector in response to rising bond yields.

One broker that remains very positive on the company is Bell Potter. It currently has a buy rating and $168.50 price target on the company’s shares.

Its analysts appear confident that Afterpay will continue to grow at a rapid rate for the foreseeable future thanks to customer and merchant growth, repeat use, its international expansion, and the launch of Afterpay Money.

In respect to the latter, the company intends to begin offering banking products such as transaction accounts via the Afterpay Money app in the coming months. But it is unlikely to stop there and has been tipped by Bell Potter to potentially expand its offering to cover personal loans and even mortgages.

Based on the latest Afterpay share price of $105.89, Bell Potter’s price target implies potential upside of 59%.

Altium Limited (ASX: ALU)

Another ASX growth share to look at is this electronic design software provider.

Altium is best-known for its Altium Designer and Altium 365 platforms but also has the Octopart electronic parts search engine business and the NEXUS design collaboration platform supporting the core business.

These platforms are industry-leading and used by many of the biggest companies in the world. This includes BAE Systems, Microsoft, and Tesla.

While the pandemic has impacted demand and stifled its growth, Altium looks well-positioned to accelerate its growth once the pandemic passes. Particularly given the huge tailwinds that it has in its sails from the booming internet of things and artificial intelligence markets. These are underpinning an explosion in electronic devices globally and supporting increased demand for its offering.  

UBS is a fan of the company. Last month the broker upgraded Altium’s shares to a buy rating with a $34.00 price target. Based on the latest Altium share price of $27.13, this implies potential upside of 25% over the next 12 months.

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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 Altium. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post 2 of the best ASX growth shares to buy in April appeared first on The Motley Fool Australia.

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