Should you buy these 3 ASX growth shares?

One thing that the Australian share market certainly isn’t short of its quality growth shares.

But with so many shares to choose from it can no doubt be difficult to decide which ones to buy. Listed below are three popular growth shares. Are they in the buy zone?

Bellamy’s Australia Ltd (ASX: BAL)

Since this time last month the shares of this infant formula company have risen by a whopping 47.3%, meaning they are changing hands at approximately 49x estimated FY 2018 earnings at present. While I have every confidence that Bellamy’s is destined for big things in the future, I do think its shares are probably overvalued now. In light of this, I think investors would be better off waiting for a pull-back in its share price before investing. Though, considering the way they are moving higher, this may be wishful thinking on my part.

Corporate Travel Management Ltd (ASX: CTD)

One of the stand out areas of the share market during earnings season was the travel and tourism industry. Arguably one of the strongest results in the industry was from Corporate Travel Management. Its shares stormed to an all-time high soon after reporting a 33% increase in underlying half-year net profit on the prior corresponding period to $36.4 million. Despite this strong gain I think the corporate travel manager is still great value for investors willing to make a patient buy and hold investment.

WiseTech Global Ltd (ASX: WTC)

This logistics platform provider was one of the best performers on the market in 2017. Unfortunately this meant that its shares were trading at nosebleed levels during earnings season and inevitably tumbled hard when it failed to outperform expectations. Since peaking at $16.27 last month, its shares have fallen a sizeable 35%. While they are still by no means cheap, I do think WiseTech Global’s shares could now be close to being good value given its strong long-term growth potential.

Finally, here are a few more growth shares that I think are in the buy zone at the moment and destined to outperform the market this year.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. The Motley Fool Australia owns shares of WiseTech Global. 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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