Bravura Solutions Ltd (ASX:BVS) and this mid cap ASX growth share could be top options for investors right now…
The post 2 stellar mid cap ASX growth shares to buy right now appeared first on The Motley Fool Australia. –
In the mid cap space, there are a number of shares with the potential to grow strongly over the 2020s.
But with so many to choose from, it can be hard to decide which ones to choose above others. Two that come highly rated are listed below:
Adore Beauty Group Limited (ASX: ABY)
Adore Beauty is an ecommerce company with a focus on beauty and personal care products that launched out of a garage in Melbourne in 2000. Today, it has 590,000 active customers and a broad and diverse portfolio of over 230 brands and 11,000 products.
The company is expecting to generate revenue of $95.2 million in the first half of FY 2021. This is up strongly on the prior corresponding period and 7% ahead of its prospectus forecast.
The good news is that this is still only a very small slice of an ANZ beauty and personal care products market which the company advised was worth $10.9 billion in 2019. This gives Adore Beauty a long runway for growth over the next decade.
Analysts at Morgan Stanley are positive on its prospects. The broker has an overweight rating and $8.35 price target on the company’s shares. It believes Adore Beauty will benefit from the ongoing shift to online shopping.
Bravura Solutions Ltd (ASX: BVS)
Another mid cap to look at is Bravura. It is the financial technology company behind the popular Sonata wealth management platform, which allows financial advisers to connect and engage with clients via computers or smart devices.
Bravura is far from a one-trick pony, though. It has been strengthening its offering over the last couple of years via acquisitions. This includes adding FinoCamp, Midwinter, and Delta Financial Systems to its portfolio.
FinoCamp builds unique and highly flexible software that supports the UK wealth market, Midwinter is a financial planning software provider, and Delta Financial Systems provides technology to power complex pensions administration in the UK market.
Given its exposure to the UK market, Bravura has been hit hard by both the pandemic and Brexit. However, management appears confident these are short term headwinds.
This is a view shared with analysts at Goldman Sachs. They think investors should be patient and have retained their buy rating and $4.50 price target on its 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.
*Returns as of June 30th
- Buy these ASX dividend shares if the RBA cuts rates again
- What does 2021 hold for ASX retail shares?
- Fund managers are buying Domino’s (ASX:DMP) and this ASX share
- 2 fantastic ASX growth shares that could beat the market in 2021
- ASX 200 drops 1.1%
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Bravura Solutions Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post 2 stellar mid cap ASX growth shares to buy right now appeared first on The Motley Fool Australia.