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3 exciting ASX growth shares rated as buys

Here’s why Pushpay Holdings Group Ltd (ASX:PPH) and these ASX growth shares could be quality options for investors right now…
The post 3 exciting ASX growth shares rated as buys appeared first on The Motley Fool Australia. –

There are a lot of growth shares for investors to choose from on the Australian share market.

To narrow things down, I have picked out three ASX growth shares that are highly rated. Here’s what you need to know about them:

IDP Education Ltd (ASX: IEL)

The first growth share to look at is IDP Education. It is a provider of international student placement services and English language testing services. It was unsurprisingly hit hard by the pandemic. However, the company has been tipped to win market share and resume its rapid growth once the crisis passes and trading conditions return to normal. Morgans expects this to be the case. As a result, it remains very positive on the company. The broker recently put an add rating and $28.48 price target on its shares.

Pushpay Holdings Group Ltd (ASX: PPH)

Another growth share to look at is Pushpay. It is a leading donor management and community engagement platform provider for the faith sector. Unlike IDP Education, it has been a strong performer during the pandemic. This has been driven partly by the accelerating digitisation of the church. In fact, demand has been so strong, Pushpay just delivered a stunning full year result for FY 2021. For the 12 months ended 31 March, Pushpay delivered a 40% increase in operating revenue to US$179.1 million and a 133% increase in EBITDAF to US$58.9 million. Positively, management is forecasting further growth in FY 2022 and is planning to expand into a new market.

Whispir Ltd (ASX: WSP)

A final growth share to look at is Whispir. It is a software-as-a-service communications workflow platform provider with a lot of potential. Whispir provides an industry-leading software platform that allows governments and organisations to deliver actionable two-way interactions at scale using automated multi-channel communication workflows. It counts a growing number of blue chips as customers. These include AGL Energy Limited (ASX: AGL), AIA Group, BP, ING, KPMG, and Takata. From its current customer base, the company is generating annualised recurring revenue (ARR) of $50.3 million. This compares to its total addressable market of US4.7 billion in just the United States. Ord Minnett currently has a buy rating and $4.75 price target on the company’s 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 February 15th 2021

More reading

Why is the Pushpay (ASX:PPH) share price down 13% this year?
3 outstanding small cap ASX shares to watch

2 fantastic ASX shares with enormous growth potential

Fund managers have been buying EML Payments (ASX:EML) and this ASX share
Broker tips IDP Education (ASX:IEL) share price to smash the market in 2021

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 recommends Whispir Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Idp Education Pty Ltd and PUSHPAY FPO NZX. The Motley Fool Australia has recommended PUSHPAY FPO NZX and Whispir Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post 3 exciting ASX growth shares rated as buys appeared first on The Motley Fool Australia.

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