3 fantastic ASX growth shares to buy this month

Here are three highly rated growth shares…
The post 3 fantastic ASX growth shares to buy this month 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:

Breville Group Ltd (ASX: BRG)

The first ASX growth share to look at is Breville. It is the leading appliance manufacturer behind a collection of brands including Sage and the eponymous Breville brand. Over the last decade, the company has been growing at a solid rate. And FY 2021 was no exception. During the 12 months, Breville recorded a 24.7% increase in revenue to $1,187.7 million and a 42.3% jump in net profit after tax to $91 million. Positively, further solid profit growth is expected by analysts in FY 2022 thanks to strong demand, the benefits of the Baratza acquisition, and its international expansion.

Morgans is positive on FY 2022 and the company’s long term growth outlook. As a result, its analysts currently have an add rating and $34.00 price target on its 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. In FY 2021, Hipages outperformed its upgraded full year revenue guidance with a 22% year on year jump to $55.8 million. Pleasingly, it has started FY 2022 strongly. Despite lockdowns in New South Wales and Victoria, Hipages continued to grow its recurring revenue during the first quarter. It reported a 14% increase in revenue over the prior corresponding period to $14.9 million. Approximately 96% of this revenue is now recurring in nature.

Goldman Sachs was impressed with last week’s update. In response, the broker retained its a buy rating and lifted its price target to $4.45. Ltd (ASX: KGN)

A final ASX growth share to look at is this growing ecommerce company. It has been benefitting greatly from the shift to online shopping over the last few years and looks well-placed to continue this trend over the long term. Especially given its strong market position, growing private label business, recent acquisitions, and rapidly increasing loyalty program members. And while Kogan is going through a difficult spot with its inventory, this appears to be more than reflected in its recent share price performance.

Credit Suisse has an outperform rating and $13.88 price target on its shares.

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

Wondering where you should 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 could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

More reading

These are the 10 most shorted ASX shares

These were the worst performing ASX 200 shares last week

2 beaten-up ASX shares that could be buys in November

Why Aussie Broadband, BlueBet, Hipages, and JB Hi-Fi shares are rising

3 fantastic ASX growth shares named as buys

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 ltd. The Motley Fool Australia owns shares of and has recommended ltd. The Motley Fool Australia has recommended 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!