Appen Ltd (ASX:APX) and these ASX growth shares could be great options for investors next week. Here’s why…
The post 3 stellar ASX growth shares to buy next week appeared first on The Motley Fool Australia. –
Looking for a growth share or two to buy after the Easter break? Three that could be worth considering are listed below.
All three have been growing strongly in recent years and look well-placed for more of the same during the 2020s. Here’s what you need to know about these ASX growth shares:
Appen Ltd (ASX: APX)
Appen is a leading developer of high-quality, human annotated datasets for machine learning (ML) and artificial intelligence (AI). It has been growing at a very impressive rate over the last few years thanks to the explosive growth in AI and ML spending. And while the pandemic has stifled its growth, the future remains very bright. With AI and ML markets expected to continue their strong growth for many years to come, Appen appears well-placed to deliver above-average growth over the next decade. Ord Minnett currently has a buy rating and a $24.75 price target on its shares.
Megaport Ltd (ASX: MP1)
Megaport is an elasticity connectivity and network services company. Its increasingly popular service allows businesses to increase and decrease their available bandwidth in response to their own demand requirements. This is instead of a user being tied to a fixed service level on long-term and expensive contracts. Demand for its service has been growing very strongly, leading to stellar recurring revenue growth. Goldman Sachs is a fan of Megaport thanks to its positive long term growth outlook. The broker has a buy rating and $15.55 price target on its shares.
Pushpay Holdings Group Ltd (ASX: PPH)
Pushpay is a fast-growing donor management platform provider for the faith and not-for-profit sectors. It has been growing its earnings at a rapid rate over the last few years and more of the same is expected in FY 2021 following a very strong first half. Looking further ahead, Pushpay is targeting a 50% share of the medium to large US church market. This is a US$1 billion opportunity and many multiples of its current revenue. Given the quality of its offering and favourable industry tailwinds, it looks well-placed to achieve this. Goldman Sachs is also a fan of Pushpay. It currently has a buy rating and $2.59 price target on its shares.
Where to 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 are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of February 15th 2021
- These were the worst performing ASX 200 shares in the Q1 of 2021
- 2 rapidly growing ASX tech shares to buy in April
- Is the ASX tech sector in for more pain?
- The FINEOS (ASX:FCL) share price is now 30% off its August highs
- 3 of the best ASX shares to buy in April
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 recommends MEGAPORT FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Appen Ltd and PUSHPAY FPO NZX. The Motley Fool Australia has recommended MEGAPORT FPO 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.