Here are three highly rated ASX growth shares…
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There are a large number of ASX growth shares to choose from on the Australian share market.
Three that come highly rated are listed below. Here’s why these ASX shares are being tipped as buys:
Domino’s Pizza Enterprises Ltd (ASX: DMP)
The first ASX growth share to consider this month is this pizza chain giant. It has been tipped to continue its strong growth over the next decade thanks to its expansion at home and overseas, acquisitions, and its focus on technology. In respect to its expansion, management sees scope to more than double its store network to 6,650 stores in existing markets by 2033. The key words there are “existing markets.” The company also has its eyes on other regions and the balance sheet strength to make acquisitions that expand its addressable market.
Goldman Sachs is positive on Domino’s. It currently has a buy rating and $147.00 price target on the pizza chain operator’s shares.
Healius Ltd (ASX: HLS)
Another ASX growth share to look at is Healius. It is one of Australia’s largest pathology and diagnostic imaging providers. Thanks to elevated demand for COVID-19 testing and a solid performance from the rest of its business, Healius is poised to deliver another very strong result in FY 2022. For example, during the first quarter, Healius reported a 43.7% increase in group quarterly revenue over the prior corresponding period to $689.9 million.
Macquarie is positive on the company’s outlook. The broker currently has an outperform rating and $5.65 price target on Healius’ shares.
Hipages Group Holdings Ltd (ASX: HPG)
A final 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. Hipages has over 30,000 tradies using its platform. Combined with strong consumer usage, this has been driving impressive growth in recent years. For example, the company outperformed its upgraded full year revenue guidance in FY 2021 with a 22% year on year jump to $55.8 million. Further strong growth is expected in FY 2022 and beyond by the team at Goldman Sachs.
In light of this, the broker has a buy rating and $4.95 price target on its shares.
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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 Hipages Group Holdings 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.