Insights

Analysts are tipping these ASX growth shares as buys

Analysts say these growth shares are in the buy zone…
The post Analysts are tipping these ASX growth shares as buys appeared first on The Motley Fool Australia. –

Looking for some growth shares for your portfolio? Then take a look at the three listed below that are rated as buys.

Here’s what you need to know about these growth shares:

Life360 Inc (ASX: 360)

The first ASX growth share to look at is Life360. Its massively popular Life360 app is the world’s leading real time, location-sharing app used by families across the world to stay safe and communicate. At the last count, there were over 30 million monthly active users on its platform. Through its freemium model, LIfe360 is generating significant recurring revenue and creating material cross-selling and upselling opportunities for the company.

Bell Potter currently has a buy rating and $7.50 price target on its shares. It believes the company has a huge opportunity to monetise its user base. It notes that the company “has the potential to leverage its large and growing user base to enter new markets and disrupt the legacy incumbents.” This includes “insurance, item & pet tracking, senior monitoring, home security and/or identity theft.”

Lovisa Holdings Limited (ASX: LOV)

Another ASX growth share that could be in the buy zone is Lovisa. It is a fast-fashion jewellery retailer which has set itself big expansion goals over the coming years. And with an experienced management team behind it who have been there and done that with other retailers, Lovisa appears well-placed to execute on its plans and deliver strong growth over the next decade.

Morgans is very positive on Lovisa and has an add rating and $24.00 price target on its shares. Its analysts are bullish on the company’s global expansion plans and believe “LOV may just prove to be one of the biggest success stories in Australian retail.”

Temple & Webster Group Ltd (ASX: TPW)

A final ASX growth share to look at is this online furniture and homewares retailer. It has been growing very strongly over the last few years thanks to the ongoing shift to online shopping. Pleasingly, this has continued in FY 2022. A recent trading update revealed year on year revenue growth of 23% for the period 1 January to the 30 April.

Goldman Sachs has a buy rating and $12.65 price target on its shares. The broker likes Temple & Webster due to its “early lead in the home furniture category which is still in the early stages of online penetration.”

The post Analysts are tipping these ASX growth shares as buys appeared first on The Motley Fool Australia.

Wondering where you should 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 over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

More reading

3 ASX All Ordinaries shares that defied Thursday’s slump to leap higher
This ASX 300 retail share could grow its global store network by 260%: fundie
3 fantastic ASX shares that analysts reckon have huge upside potential
Why did the Temple & Webster share price plunge 10% today?
Do experts think the Temple & Webster share price is a massive opportunity?

Motley Fool contributor James Mickleboro has positions in Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360, Inc. and Temple & Webster Group Ltd. The Motley Fool Australia has recommended Lovisa Holdings Ltd and Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

  • This field is for validation purposes and should be left unchanged.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Free Share Allocation Reward Levels

STARTER

Class
$ 2,500 Deposit & Trade
  • REWARD^
  • 1 x Marathon Oil Corporation (NYSE:MRO)

ECONOMY

Basic
$ 5,000 Deposit & Trade
  • REWARD^
  • 1 x Pfizer Inc (NASDAQ:PFE)

ECONOMY

Standard
$ 10,000 Deposit & Trade
  • REWARD^
  • 1 x Amazon.com Inc (NASDAQ:AMZN)

ECONOMY

Plus
$ 25,000 Deposit & Trade
  • REWARD^
  • 2 x Apple Inc (NASDAQ:AAPL)
POPULAR

BUSINESS

Class
$ 50,000 Deposit & Trade
  • REWARD^
  • 4 x Apple Inc (NASDAQ:AAPL)

FIRST

Class
$ 150,000 Deposit & Trade
  • REWARD CHOICES^
  • 12 x Apple Inc (NASDAQ:AAPL)
  • 2 x Tesla (NASDAQ:TSLA)
^Please refer to the Free Share Promotion Terms and Conditions for details.

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex Securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

FREE AAPL, TSLA, AMZN, PFE or MRO Share(s)
REGISTER TO BE ELIGIBLE FOR FREE SHARES
TRAVEL ACROSS THE FINANCIAL WORLD
Act Fast - Promotion Ends In
Click Here To Get Started
FREE AAPL, TSLA, AMZN, PFE or MRO Share(s)
REGISTER TO BE ELIGIBLE FOR FREE SHARES
TRAVEL ACROSS THE FINANCIAL WORLD
Act Fast - Promotion Ends In
Click Here For More Info