These growth shares have been given buy rating…
The post 3 quality ASX growth shares analysts rate as buys appeared first on The Motley Fool Australia. –
If you’re planning to add some growth shares to your portfolio in September, then you might want to look at the shares listed below.
All three of these ASX growth shares have been tipped as buys recently. Here’s what you need to know about them:
Domino’s Pizza Enterprises Ltd (ASX: DMP)
The first ASX growth share to look at is Domino’s. This pizza chain operator has been growing at a solid rate for a long time. This has been driven by the expansion of its store network at home and overseas, acquisitions, and its focus on technology. The good news is that management isn’t resting on its laurels and is aiming to continue expanding and growing its sales for some time to come. This could make it a top long term pick.
Citi is a fan of Domino’s. It currently has a buy rating and $159.05 price target on its shares.
Nitro Software Ltd (ASX: NTO)
Another growth share to look at is Nitro Software. It is a software company that is aiming to drive digital transformation in organisations around the world with its key solution – Nitro Productivity Suite. Demand has been growing strongly in recent years and has continued in FY 2021. For example, during the first half it reported a 56% increase in annual recurring revenue (ARR) to $33.8 million.
Wilsons has been pleased with its performance so far in FY 2021. It recently retained its overweight rating and lifted its price target to $4.22.
PointsBet Holdings Ltd (ASX: PBH)
A final growth share to look at is PointsBet. It is a sports betting and iGaming provider with operations in the ANZ and US markets. It has been growing at a rapid rate thanks to the increasing popularity of mobile sports betting and its US expansion. Pleasingly, it is still only scratching at the surface of its US opportunity and has a significant runway for growth over the next decade.
Goldman Sachs is very bullish on PointsBet. It currently has a buy rating and $14.75 price target on its shares. The broker believes the company is well-placed to win a 10% share in the US states it operates in.
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*Returns as of August 16th 2021
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 Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited, Nitro Software Limited, and Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.