3 excellent ASX growth shares to buy

Here are three excellent growth shares…
The post 3 excellent ASX growth shares to buy appeared first on The Motley Fool Australia. –

The Australian share market is home to a number of companies growing at a rapid rate.

Three that could be well-placed for growth over the long term are listed below. Here’s what you need to know about these ASX shares:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The first ASX growth share to look at is this pizza chain operator. Domino’s also been growing at a consistently solid rate for over a decade thanks to the popularity of its offering and the expansion of its footprint. Pleasingly, the future looks very positive thanks to its expansion plans. Domino’s started FY 2022 with a total of 2,974 stores across its network but sees scope to more than double this over the next decade in existing markets. The company also has the balance sheet strength to make acquisitions that open up new geographic markets, increasing its addressable market.

Earlier this week, Goldman Sachs retained its buy rating and $154.90 price target on the company’s shares.

Hipages Group Holdings Ltd (ASX: HPG)

Another ASX growth share to look at is Hipages. It is a leading Australian-based online platform and software as a service (SaaS) provider connecting consumers with trusted tradies. At the end of FY 2021, the company had over 34,000 tradies using its platform. Combined with strong consumer growth, this underpinned impressive performances across many key metrics. It also led to Hipages outperforming its upgraded full year revenue guidance with a 22% year on year jump to $55.8 million.

Goldman Sachs is also a fan of Hipages. It currently has a buy rating and $4.35 price target on its shares.

IDP Education Ltd (ASX: IEL)

A final ASX growth share to look at is IDP Education. It is a provider of international student placement services and English language testing services. While IDP Education was hit hard by the pandemic, it has been bouncing back strongly. For example, the company has just revealed that during the first quarter of FY 2022, IELTS volumes were up 84% on the same period last year. Combined with its strong market position and recent acquisition in the lucrative India market, the future looks very positive for IDP Education.

Earlier this week, Morgan Stanley retained its overweight rating and $40.20 price target on IDP Education’s shares.

The post 3 excellent ASX growth shares to buy appeared first on The Motley Fool Australia.

Should you invest $1,000 in IDP Education right now?

Before you consider IDP Education, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and IDP Education wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

The ASX share showing explosive post-COVID growth

Top brokers name 3 ASX shares to sell today

2 ASX 200 shares that keep growing their dividends

5 things to watch on the ASX 200 on Tuesday

Leading broker names 2 fantastic ASX growth shares to buy now

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 Hipages Group Holdings Ltd. and Idp Education Pty Ltd. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited and Hipages Group Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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!