These ASX shares could be quality options for growth investors

Here are a couple of quality options for growth investors…
The post These ASX shares could be quality options for growth investors appeared first on The Motley Fool Australia. –

If you’re a growth investor looking for some investment ideas for November, then the shares listed below could be worth considering.

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

Appen Ltd (ASX: APX)

The first ASX growth share to look at is Appen. It is a leading developer of high-quality, human annotated datasets for machine learning and artificial intelligence (AI).

Through its team of over a million skilled contractors, Appen prepares or creates the data for the machine learning models of some of the largest tech companies. These include Amazon, Facebook, and Microsoft.

While COVID-19 has put a dampener on demand, a rebound is expected post-pandemic. So with the Appen share price down significantly from its highs, now could be an opportune time to consider an investment.

The team at Citi appear to believe this is the case. The broker currently has a buy rating and $17.10 price target on its shares. This is notably higher than where the Appen share price currently trades today.

Temple & Webster Group Ltd (ASX: TPW)

Another quality growth share to consider is Temple & Webster. It is Australia’s leading online furniture and homewares retailer.

In FY 2021, the company reported an 85% increase in revenue to $326.3 million and a 62% year on year increase in customer numbers to 778,000. It then followed this up with a 56% increase in revenue during July 1 to 15 October.

Pleasingly, with online furniture shopping still in its infancy in comparison to other categories and Western markets, Temple & Webster looks well-positioned to grow its revenue materially over the 2020s. Particularly given management’s investment in sales and marketing to cement its leadership position.

The team at Morgan Stanley is very positive on the company’s outlook. The broker currently has an overweight rating and $16.00 price target on its shares.

The post These ASX shares could be quality options for growth investors appeared first on The Motley Fool Australia.

Should you invest $1,000 in Temple & Webster right now?

Before you consider Temple & Webster, 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 Temple & Webster 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

More reading

10 top ASX shares to buy in November

3 outstanding ASX growth shares to buy now

Is the Appen (ASX:APX) share price a serious bargain?

Move over Appen: A new artificial intelligence stock to list on the ASX

Analysts name 2 excellent ASX growth shares to buy

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 Appen Ltd and Temple & Webster Group Ltd. The Motley Fool Australia owns shares of and has recommended Appen Ltd. The Motley Fool Australia has recommended Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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.

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

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

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 indefinitely, 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.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!