Here are 3 growth shares I would buy and hold today

I believe the Australian Stock Exchange is blessed with a good number of high-quality growth shares. But with so many to choose from it can be hard to decide which to invest in.

If you’re struggling to decide which growth shares to buy then I would suggest taking a closer look at the three shares listed below. Each has explosive growth prospects in my opinion, which make them fantastic long-term investment options.

Appen Ltd (ASX: APX)

Advances in technology have made it easier than ever for businesses to reach global markets. But with countless languages across the world, a business cannot simply expect to sell a product in a new market without adapting it to look and feel native. This is where Appen steps in. The language services and technology specialist helps businesses deliver products consistent with a particular market’s language and cultural preferences. This ensures that the business can successfully enter new markets and accelerate its global growth. With a client list that includes global giants Facebook and Microsoft, I believe Appen is clearly a company on the up.

Treasury Wine Estates Ltd (ASX: TWE)

I believe the growing popularity of Treasury Wine Estates’ products across the world should keep its earnings growth strong for a number of years to come. The wine company recently reported an incredible 131% rise in full year statutory net profit after tax of $179 million. A key driver of this result was its sales into the Americas. Sales in the region rose a whopping 30% to just over $1 billion in FY 2016. The good news is that in FY 2017 management expects more of the same thanks to organic growth and the recently acquired Sterling Vineyards, Beaulieu Vineyard, and Blossom Hill brands.

Webjet Limited (ASX: WEB)

Although the shares of this leading online travel agency have almost doubled in value this year, I still feel they represent a great long-term investment. Thanks to the rapid rise in online travel booking in FY 2016 Webjet reported a 30% rise in full year revenue to $154.5 million and a 27% jump in net profit to $22.2 million. According to research firm IbisWorld, Australian online bookings will continue to see annual growth in the double digits until at least 2020. As a result I believe Webjet is in a great position to capture this growth and increase its earnings at a strong rate.

Finally, if you need to make room in your portfolio for either of these shares I would suggest you consider removing these three wealth-destroying shares from your portfolio today if you own them.

3 Rotten Shares to Sell, and 1 to Buy Today

After a double-digit rally for the ASX since 2016 lows, investors should be on high alert. You'll find a full rundown below of 3 shares we think you should avoid today plus one top pick worth buying, even if the market turns south and the RBA keeps rates at an "emergency low." Simply click here to uncover these stocks.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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 Bruce Jackson.

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