Insights

2 top mid cap ASX shares for growth investors

Jumbo Interactive (ASX:JIN) and this mid cap ASX share could be well worth getting better acquainted with. Here’s what you need to know…
The post 2 top mid cap ASX shares for growth investors appeared first on The Motley Fool Australia. –

steps to picking asx shares represented by four lightbulbs drawn on chalk board

If small caps are too high on the risk scale for your tastes, then you might be better off looking at the mid cap space.

These companies are lower down the risk scale but still have the potential to generate outsized returns for investors in the future.

Two mid caps that tick a lot of boxes are listed below. Here’s what you need to know about them:

Hipages Group Holdings Ltd (ASX: HPG)

The first mid cap ASX share to look at is Hipages. It is a leading Australian-based online platform and software as a service (SaaS) provider that connects tradies with residential and commercial consumers.

Its increasingly popular platform helps tradies grow their businesses by providing job leads from homeowners and organisations looking for qualified professionals.

At the last count, over three million Australians had used Hipages, providing more work to over 34,000 trade businesses subscribed to the platform.

Goldman Sachs is very positive on the company and sees it as a great long term option. It notes that the company currently captures around 5% of total industry advertising spend. However, it sees scope for this to increase to 40% to 60% in the future as the company builds out its ecosystem. 

Goldman Sachs recently reiterated its buy rating and $3.35 price target on its shares. This compares to the current Hipages share price of $2.42.

Jumbo Interactive (ASX: JIN)

Another mid cap ASX share to look at is Jumbo Interactive. It is an online lottery ticket seller which is best-known as the operator of the Oz Lotteries website.

While the company generates the majority of its revenue from the Oz Lotteries website, there’s a lot more to it than that. Jumbo also has its own SaaS business – Powered by Jumbo.

This part of the business allows lottery operators to take their lotteries online without having to invest in a development team and build a website. Management estimates that the global lottery market is worth US$303 billion per year in transaction value. Positively, with only ~7% of this market online at the moment, Powered by Jumbo has an enormous opportunity to capture.

Morgan Stanley is bullish on the company. It currently has an overweight rating and $15.20 price target on its shares. This compares to the current Jumbo share price of $13.04.

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 February 15th 2021

More reading

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Life360, Inc. and Nuix Pty Ltd. The Motley Fool Australia has recommended Nuix Pty 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 top mid cap ASX shares for growth investors appeared first on The 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!