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3 fantastic ASX growth shares to buy in March

Here’s why Kogan.com Ltd (ASX:KGN) and these ASX growth shares could be fantastic options for investors this month…
The post 3 fantastic ASX growth shares to buy in March appeared first on The Motley Fool Australia. –

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If you have a penchant for growth shares, then I have good news for you. The Australian share market is home to a good number of companies growing their earnings at a quick rate.

Three ASX growth shares that could be worth a closer look are listed below. Here’s what you need to know about them:

Kogan.com Ltd (ASX: KGN)

Kogan is one of Australia’s leading ecommerce companies. It has been a huge winner from the accelerating shift to online shopping caused by the pandemic. For example, during the first half of FY 2021, Kogan reported a 97.4% increase in gross sales to $638.2 million and a whopping 250.2% lift in adjusted net profit after tax to $36.5 million. This was driven by a large increase in active customers, acquisitions, and strong Exclusive Brands sales. Analysts at Credit Suisse were pleased with its performance. The broker has put an outperform rating and $20.85 price target on its shares.

NextDC Ltd (ASX: NXT)

Another growth share to look at is NextDC. It is Australia’s leading data centre operator, with a total of nine centres located across Australia. It has been benefitting greatly from a different shift – the shift to the cloud. This has led to a significant increase in demand for the company’s highly interconnected platform of premium colocation data centres. So much so, it led to NextDC recently reporting a 29% increase in EBITDA to $65.7 million for the first half. Pleasingly, more of the same is expected in the second half. In response to its results, UBS put a buy rating and $15.40 price target on its shares.

Pushpay Holdings Group Ltd (ASX: PPH)

Pushpay is leading donor management and community engagement platform provider for the faith sector. Like the others, it has been growing at a rapid rate in FY 2021 despite the pandemic. Strong demand in the United States means that Pushpay is expecting to achieve full year operating earnings of US$56 million and US$60 million. This will be up a massive 123% to 139% year on year. And thanks to further operating leverage, its earnings are expected to grow even quicker. Analysts at Goldman Sachs are positive on the company. They have a conviction buy rating and $2.59 price target on its shares.

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James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd and PUSHPAY FPO NZX. The Motley Fool Australia has recommended Kogan.com ltd and PUSHPAY FPO NZX. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post 3 fantastic ASX growth shares to buy in March appeared first on The Motley Fool Australia.

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