3 explosive ASX growth shares to buy in March

I think ResMed Inc. (ASX:RMD) and these ASX growth shares could be great options for investors in March…

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A new month is upon us, so what better time to consider making a few additions to your portfolio.

If you're looking to add a few growth shares, then the three listed below could be good options once the market volatility subsides. Here's why I like them:

Appen Ltd (ASX: APX)

This global leader in the development of high-quality, human annotated datasets for machine learning and artificial intelligence has had an incredibly volatile month due to the coronavirus-induced market volatility. This has left its shares trading a lot closer to their 52-week lows than their 52-week highs. This despite the company smashing its FY 2019 guidance this week. And with Appen predicting minimal impact from the coronavirus and further strong profit growth in FY 2020, I think now could be an opportune time to make a long-term investment in its shares.

ResMed Inc. (ASX: RMD)

ResMed is one of my favourite growth shares on the Australian share market. It has been growing at a consistently strong rate over the last decade and has carved itself out a leadership position in the sleep treatment market. The good news is that the company looks well-positioned to continue this positive form over the next decade. This is thanks to its world-class products and the estimated ~1 billion people that are believed to suffer from sleep apnoea globally. The vast majority of these are undiagnosed, which I feel gives ResMed a significant runway for growth.

Webjet Limited (ASX: WEB)

Travel and tourism shares have understandably been hit hard by coronavirus concerns in February. However, I think the market has overreacted with Webjet and its recent share price weakness could be a buying opportunity. Webjet's shares are changing hands at approximately 19x estimated FY 2020 earnings at present. I think this is a bargain given its exceptionally strong long-term growth potential thanks to its rapidly growing WebBeds business.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Appen Ltd. The Motley Fool Australia has recommended ResMed Inc. and Webjet 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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