Kogan.com Ltd (ASX:KGN) and these ASX growth shares could be the ones to buy according to these experts. Here’s why…
The post 3 stellar ASX growth shares to buy today appeared first on The Motley Fool Australia. –
Are you planning on adding some growth shares to your portfolio? Before you make your purchases, you might want to take a look at these shares.
All three have been named as buys and tipped to deliver strong growth over the long term:
Bravura Solutions Ltd (ASX: BVS)
Bravura Solution is a provider of software and services to the wealth management and funds administration industries. It has a growing portfolio of products being used by financial institutions across the world. These include the Sonata wealth management platform and the Midwinter financial planning software. And while COVID-19 and Brexit are weighing on its performance this year, its long term outlook remains very positive. Goldman Sachs remains positive and has a buy rating and $4.20 price target on its shares.
Kogan.com Ltd (ASX: KGN)
This ecommerce company is another growth share to consider. Kogan’s growth has gone into overdrive during the last 12 months after the pandemic accelerated the shift to online shopping. This led to significant customer, sales, and earnings growth during this time. The company has also bolstered its growth through a couple of bolt-on acquisitions. The most notable being its $122 million acquisition of online retailer Mighty Ape. Credit Suisse is very positive on its outlook and believes Kogan is well-placed for growth in the coming years thanks to an increase in online spending and its expanding product range. The broker has an outperform rating and $21.08 price target on its shares.
Nearmap Ltd (ASX: NEA)
Nearmap is a leading aerial imagery technology and location data company with operations in the ANZ and North American markets. Management appears confident that Nearmap is well-positioned for growth over the 2020s and is aiming to deliver annualised contract value (ACV) growth of 20% to 40% per annum over the period. It expects this to be driven by new growth initiatives, geographic expansion, and the launch of its latest AI product. Last week analysts at Goldman Sachs upgraded Nearmap’s shares to a buy rating with a $2.75 price target. Goldman believes its technology is market-leading and expects the company to benefit from a sharp economic recovery in the US market after COVID headwinds ease.
Where to invest $1,000 right now
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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 June 30th
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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 Bravura Solutions Ltd. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd and Nearmap Ltd. The Motley Fool Australia has recommended Bravura Solutions Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.