Kogan.com Ltd (ASX:KGN) and these ASX growth shares could be top options for investors. Here’s why they are rated highly…
The post 3 ASX growth shares to buy this week appeared first on The Motley Fool Australia. –
Luckily for Australian growth investors, the ASX is not short of options when it comes to growth shares.
Three top growth shares for investors to look at today are listed below. Here’s what you need to know about them:
Aristocrat Leisure Limited (ASX: ALL)
Aristocrat Leisure is a leading gaming technology company Although 2020 has been a very difficult year for its poker machine business, its digital business has performed positively and delivered strong growth. Analysts at Citi expect the company to bounce back in FY 2021 and then build on this in the years that follow. As a result. they have recently retained their buy rating and lifted the price target on its shares to $40.60.
Audinate Group Limited (ASX: AD8)
Audinate is a digital audio-visual networking technologies provider which has been delivering impressive sales growth over the last few years. This is thanks to its Dante product, which is the clear market leader with 8 times as many enabled devices as its nearest rival. And while FY 2020 was a tough year because of the pandemic, the company looks well-placed to bounce back strongly when the crisis passes. UBS has been encouraged by its recovery and notes its strong performance in the first quarter. It has a buy rating and $8.00 price target on its shares.
Kogan.com Ltd (ASX: KGN)
This ecommerce company could be an ASX share to buy, especially if you’re looking for long term options. Kogan could be a great buy and hold option due to the structural shift to online shopping and the growing popularity of its website. Management has also been making value accretive acquisitions recently that could accelerate its growth in the coming years. One broker that is positive on the company is Credit Suisse. It recently put an outperform rating and $20.60 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
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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 AUDINATEGL FPO and Kogan.com ltd. The Motley Fool Australia has recommended AUDINATEGL FPO and Kogan.com ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.