Looking for growth options? Then take a look at these shares….
The post 3 stellar ASX growth shares named as buys appeared first on The Motley Fool Australia. –
If you’re on the lookout for some growth shares, then you might want to take a look at the ones below. They are all quality businesses which have been tipped as buys recently.
Here’s what you need to know about these top ASX growth shares:
Altium Limited (ASX: ALU)
The first growth share to look at is Altium. It is the printed circuit board (PCB) design software provider behind the Altium Designer and cloud-based Altium 365 platforms. With PCBs found inside almost all electronic devices, the company has been benefitting greatly from the proliferation of electronic devices due to the rapidly growing Internet of Things and artificial intelligence markets.
Analysts at Credit Suisse are positive on the company. The broker currently has an outperform rating and $42.00 price target on its shares.
IDP Education Ltd (ASX: IEL)
Another ASX growth share to look at is IDP Education. It is a provider of international student placement and English language testing services. Although it has been hit hard by the pandemic, it has been tipped to come out of the crisis in an even stronger market position. Especially given how many of its smaller rivals have failed to survive the tough trading conditions.
Analysts at Morgans believe the company is very well-placed for growth post-pandemic. As a result, the broker has an add rating and $28.48 price target on its shares.
Kogan.com Ltd (ASX: KGN)
A final ASX growth share to consider is Kogan. It is a rapidly growing ecommerce company which has been a big winner from the shift to online shopping. The good news is that the shift still has a long way to go, which should underpin strong sales growth for some time to come. And while Kogan is struggling with excess inventory and slowing sales right now, this is only expected to be a short term headwind.
Credit Suisse has an outperform rating and $17.93 price target on its shares. It remains very positive on its medium term growth prospects.
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*Returns as of May 24th 2021
The Kogan (ASX:KGN) share price has fallen 44% in 2021
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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 Altium, Idp Education Pty Ltd, and Kogan.com ltd. The Motley Fool Australia owns shares of and has recommended Altium and Kogan.com ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.