If you’re looking for some growth shares to add to your portfolio, then you might want to look at the…
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If you’re looking for some growth shares to add to your portfolio, then you might want to look at the ones below.
Here’s what you need to know about these highly rated ASX growth shares:
Afterpay Ltd (ASX: APT)
The first ASX growth to look at is Afterpay. This leading buy now pay later (BNPL) focused payments company has been tipped to continue growing at a strong rate for many years to come. This is being underpinned by the increasing popularity of the BNPL payment method as consumers turn away from credit cards. In addition to this, the company’s global expansion and the launch of new offerings such as Afterpay Money and pay anywhere are supporting its growth. The latter will soon allow US consumers to shop with some of the largest retailers in the world such as Amazon. These retailers collectively account for almost 50% of ecommerce volume in the US. Morgan Stanley remains positive on the Afterpay’s outlook. The broker has an overweight rating and $145.00 price target on its shares.
Temple & Webster Group Ltd (ASX: TPW)
Another ASX growth share to look at is this leading online furniture and homewares retailer. Temple & Webster has been tipped as a company that could grow strongly over the coming years thanks to its strong market position and the shift to online shopping. And while COVID-19 has been a big boost to sales, it is worth noting that online furniture shopping is still in its infancy compared to other retail categories. This gives Temple & Webster a significant market opportunity to grow into over the next decade. Morgan Stanley is also a fan of Temple & Webster. It currently has an overweight rating and $15.00 price target on its shares.
Whispir Limited (ASX: WSP)
A final ASX growth share to look at is Whispir. It is a software as a service (SaaS) communications workflow platform provider used by 750+ businesses globally to automate interactions between them, their people, and their customers. Management notes that its customers use Whispir’s software to create interactive, multi-party and omnichannel communications from templates, solving simple to complex communications workflow tasks. Demand has been growing strongly for its platform. This has underpinned stellar recurring revenue growth in recent years. Ord Minnett is bullish on Whispir. It currently has a buy rating and $4.25 price target on its shares.
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Motley Fool contributor 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 has recommended AFTERPAY T FPO, Temple & Webster Group Ltd, and Whispir Ltd. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool Australia has recommended Temple & Webster Group Ltd and Whispir Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.