Here’s why these growth shares are highly rated…
The post 3 stellar ASX growth shares that are highly rated appeared first on The Motley Fool Australia. –
If you’re looking for some growth shares to add to your portfolio, then you might want to look at the ones below.
Here’s what you need to know about these highly rated ASX growth shares:
Altium Limited (ASX: ALU)
Altium is a leading printed circuit board (PCB) design software provider. It is the company behind the Altium Designer and cloud-based Altium 365 platforms, the Octopart search engine, and the Nexus workflow PCB solution.
With PCBs found inside almost all electronic devices, the company is exposed to the proliferation of electronic devices globally due to the rapidly growing Internet of Things and artificial intelligence markets. This bodes well for its future growth, especially given its leadership position in the industry.
Analysts at Credit Suisse are positive on the company. The broker currently has an outperform rating and $42.00 price target on its shares.
Kogan.com Ltd (ASX: KGN)
Another growth share to look at is Kogan. This ecommerce company has been a mixed performer over the last 12 months. After initially being one of the biggest winners from changing consumer trends during the pandemic, things went very wrong with its inventory management after demand softened. While this was disappointing, it is only expected to be temporary.
In light of this, analysts at Credit Suisse feel investors should look beyond the short term headwinds and focus on the potential long term gains from the structural shift to online shopping.
Credit Suisse currently has an outperform rating and $17.93 price target on its shares.
WiseTech Global Ltd (ASX: WTC)
A final growth share to consider is WiseTech Global. It is the logistics solutions company behind the popular CargoWise One platform. This platform allows users to execute complex logistics transactions and manage freight operations from a single, easy to use platform.
WiseTech has been experiencing strong demand for its platform in FY 2021. As a result, it is expected to report stellar full year revenue and earnings growth in August. After which, the future looks bright due to its strong market position and growing freight volumes globally. It also looks set to benefit from its customers making acquisitions, which is expected to lead to increased usage.
Morgan Stanley currently has an overweight rating and $35.00 price target on its shares.
Should you invest $1,000 in WiseTech right now?
Before you consider WiseTech, you’ll want to hear this.
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*Returns as of May 24th 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 Altium, Kogan.com ltd, and WiseTech Global. The Motley Fool Australia owns shares of and has recommended Altium, Kogan.com ltd, and WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.