These growth shares are highly rated…
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Looking for a growth share or two to buy after the weekend break? Three that could be worth considering are listed below.
All three have been tipped to grow strongly over the 2020s. Here’s what you need to know about them:
Appen Ltd (ASX: APX)
The first growth share to look at is this leading developer of high-quality, human annotated datasets for machine learning (ML) and artificial intelligence (AI). It was growing at a very impressive rate until the pandemic led to the softening of demand from some of its biggest customers. Pleasingly, AI and ML markets are expected to rebound once the pandemic passes, which bodes well for Appen’s future.
Citi believes it is worth sticking with the company. It recently put a buy rating and $18.80 price target on Appen’s shares.
IDP Education Ltd (ASX: IEL)
Another ASX growth share to look at is IDP Education. It is a provider of international student placement services and English language testing services. Like Appen, it was hit hard by the pandemic. However, it has been tipped to bounce back strongly. Particularly given its increasingly popular software offering, strengthening market position, and a key acquisition in India.
UBS is very positive on the company’s outlook. It recently put a buy rating and $36.40 price target on its shares.
Life360 Inc (ASX: 360)
A final ASX growth share to look at is Life360. It is the growing technology company behind the Life360 family app. Life360 has also recently expanded into the wearables market via the acquisition of Jiobit, increasing its total addressable market and opening up cross selling opportunities to its 32.3 million Monthly Active Users.
Bell Potter currently has a buy rating and $10.75 price target on Life360’s shares. It sees plenty of opportunities to monetise its growing user base.
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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 Appen Ltd, Idp Education Pty Ltd, and Life360, Inc. The Motley Fool Australia owns shares of and has recommended Appen Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.