These growth shares could be in the buy zone for investors next month…
The post 3 top ASX growth shares to buy next month appeared first on The Motley Fool Australia. –
If you’re looking for some growth shares to add to your portfolio next month, then the three listed below might be worth considering.
Here’s why these ASX growth shares have been rated as buys recently:
The first ASX growth share to look at is Bapcor. It is the Asia Pacific region’s leading provider of vehicle parts, accessories, equipment, service and solutions. Last month the company revealed strong sales and profit growth in FY 2021 thanks to positive performances across its business. For the 12 months ended 30 June, the company reported a 20.4% increase in revenue to $1,761.7 million and a 46.5% jump in pro forma net profit after tax to $130.1 million.
Citi is positive on the company’s long term outlook and has a buy rating and $8.25 price target on its shares.
Another ASX growth share to look at is Nearmap. It is an aerial imagery technology and location data company with operations in Australia and North America. From these markets, Nearmap is aiming to deliver annualised contract value (ACV) growth of 20% to 40% per annum over the long term.
One leading broker that appears confident it will achieve this is Morgan Stanley. It currently has an overweight rating and $3.20 price target on its shares.
Nitro Software Ltd (ASX: NTO)
A final growth share to look at is Nitro Software. It is driving digital transformation in organisations around the world with its Nitro Productivity Suite. This software platform provides integrated PDF productivity and electronic signature tools to customers. During the first half of FY 2021, the company reported a 56% increase in annual recurring revenue (ARR) to $33.8 million.
Bell Potter is a big fan of Nitro Software. So much so, it currently has a buy rating and $4.00 price target on its shares.
Should you invest $1,000 in Nearmap right now?
Before you consider Nearmap, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Nearmap wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*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 Nearmap Ltd. The Motley Fool Australia owns shares of and has recommended Bapcor and Nearmap Ltd. The Motley Fool Australia has recommended Nitro Software Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.