I would suggest investors consider investing $10,000 into Appen Ltd (ASX:APX) and these ASX shares right now…
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If you’re looking to add a few new ASX shares to your portfolio, then the three listed below could be worth considering.
I believe they could be among the best shares on the ASX and destined to be strong performers over the next few years.
Here’s why I would invest $10,000 into them right now:
Appen Ltd (ASX: APX)
Appen and its large team of crowd sourced workers provide or improve the data that is used for the development of machine learning and artificial intelligence products. Given how important these products are becoming for businesses and governments, you won’t be surprised to learn that demand for Appen’s services has been growing rapidly in recent years. I’m confident this demand will remain strong for a long time to come and underpin robust earnings growth over the next decade.
Pushpay Holdings Ltd (ASX: PPH)
Another ASX share to invest $10,000 into is this donor management and community engagement provider. Over the last few years, the number of churches using Pushpay’s platform has been increasing at a very strong rate. In FY 2020, for example, Pushpay reported a 42% increase in customer numbers to 10,896. Unsurprisingly, this customer growth is underpinning very strong sales and earnings growth. Pleasingly, demand continues to grow and further explosive growth is expected in FY 2021. Management expects its earnings before interest, tax, depreciation and amortisation (EBITDA) to be in the range of US$50 million to US$54 million this year. This is higher than its previous guidance and more than double FY 2020’s earnings.
Xero Limited (ASX: XRO)
A third ASX share to buy is Xero. It is a cloud accounting and business software company which has also been a very strong performer over the last few years. This positive form continued in FY 2020 when Xero delivered impressive top line growth of 30% year on year. Another big positive was its operating leverage, which led to increasing margins and a 52% increase in EBITDA to NZ$139.2 million. I’m confident Xero still has a long runway for growth thanks to its massive global market opportunity and its high quality and sticky product.
Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks now
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In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.
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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 Xero. The Motley Fool Australia owns shares of and has recommended PUSHPAY FPO NZX. The Motley Fool Australia owns shares of Appen Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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