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Why Zip (ASX:Z1P) and this ASX growth share are rated highly

Here’s why Zip Co Ltd (ASX:Z1P) and this ASX growth share are highly rated by analysts right now…
The post Why Zip (ASX:Z1P) and this ASX growth share are rated highly appeared first on The Motley Fool Australia. –

Five stacked building blocks with green arrows, indicating rising inflation or share prices

Are you wanting to boost your portfolio with some top growth shares, then you may want to look at the two listed below.

Here’s why these top ASX growth shares have been tipped as ones to buy right now:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

This leading pizza chain operator could be a quality option for growth investors.

Thanks to its dominance of the local market and its expanding international operations, Domino’s has been growing its sales and earnings at a solid rate over the last decade.

The good news is that management doesn’t believe its growth is anywhere near complete. In fact, the company still believes it can double its store footprint over the next ten years or so. And that’s just in the markets it is currently active. It is also looking for acquisition opportunities which could give it an even larger footprint in the future.

One broker that sees value in its shares is Morgans. It currently has an add rating and $119.00 price target on its shares. This compares to the current Domino’s share price of $106.08.

Zip Co Ltd (ASX: Z1P)

Another ASX growth share that is rated highly is Zip. It is a fast-growing buy now pay later (BNPL) provider with operations across the world.

While its local operations are undoubtedly strong, it is the company’s US-based Quadpay business which is getting investors excited.

Quadpay has been growing at a rapid rate since its acquisition. Pleasingly, with a $5 trillion market opportunity in the US, there’s still a significant runway for growth ahead of it.

In addition to this, the company has recently launched in the UK and has plans to enter other regions in the future.

Morgans is also very positive on Zip. So much so, last week the broker put an add rating and $10.39 price target on its shares. This compares to the latest Zip share price of $8.89.

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.

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*Returns as of February 15th 2021

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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 ZIPCOLTD FPO. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why Zip (ASX:Z1P) and this ASX growth share are rated highly appeared first on The Motley Fool Australia.

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