3 fantastic ASX growth shares named as buys

These growth shares could be in the buy zone…
The post 3 fantastic ASX growth shares named as buys appeared first on The Motley Fool Australia. –

Are you interested in adding some ASX growth shares to your portfolio? If you are, you may want to look at the ones listed below that have recently been named as buys.

Here’s what you need to know about them:

Breville Group Ltd (ASX: BRG)

The first ASX growth share to look at is Breville. It is the leading appliance manufacturer behind the Sage, Kambrook, Baratza, and Breville brands. The company’s brands have been resonating extremely well with consumers for many years. This has been underpinning solid sales, earnings, and dividend growth. The good news is that this strong form is expected to continue in the future thanks to favourable industry tailwinds, its continued investment in research and development, and its global expansion.

Morgans is a big fan of Breville and is confident on its growth outlook. The broker currently has an add rating and $34.00 price target on its shares.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

Another ASX growth share to look at is this pizza chain operator. Thanks to the popularity of its offering and the expansion of its footprint, Domino’s has been growing at a solid rate for over a decade. The good news is that the company appears well-placed to continue this trend over the next decade. This is due to management’s belief that it can more than double its network over the period in just existing markets. The company also has the balance sheet strength to make acquisitions that open up new geographic markets.

Goldman Sachs currently has a buy rating and $154.90 price target on the company’s shares.

Life360 Inc (ASX: 360)

A final ASX growth share to look at is Life360. This growing technology company is responsible for the eponymous Life360 mobile app. This market leading app is for families and offers useful features such as communications, driver safety, and location sharing. The popularity of the app continues to increase, with the company adding a further 1.5 million monthly active users (MAU) during the third quarter. This brought the total MAU to 33.8 million and underpinned a 48% year on year increase in Annualised Monthly Revenue (AMR) (excluding Jiobit) to US$120.1 million.

In response to its update, this morning Bell Potter retained its buy rating and lifted its price target on Life360’s shares to $12.50.

The post 3 fantastic ASX growth shares named as buys appeared first on The Motley Fool Australia.

Should you invest $1,000 in Life360 right now?

Before you consider Life360, 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 Life360 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

Why Life360, Nitro, Reliance Worldwide, and Uniti shares are charging higher

Life360 (ASX:360) share price hits record high on Q3 update and guidance upgrade

Leading brokers name 3 ASX shares to buy today

3 excellent ASX growth shares to buy

Top brokers name 3 ASX shares to sell today

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 Life360, Inc. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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