Whilst the large cap and small cap part of the market tends to get a lot of attention from investors, the mid cap space can often be overlooked.
Which is a shame because there are some high-quality mid cap growth shares right now that I think would be great investments.
Here are three that I like:
Appen Ltd (ASX: APX)
Appen is a machine learning and artificial intelligence dataset provider which has been growing at an incredible rate over the last few years. The company has achieved this by providing a service that is experiencing increased demand from some of the world’s biggest tech giants. Thanks in particular to growing demand in the social media and search categories, in February Appen reported an impressive 62% year-on-year lift in EBITDA for FY 2017. While that was clearly strong, management expects EBITDA growth to accelerate in FY 2018.
Bingo Industries Ltd (ASX: BIN)
I think this predominantly NSW-based waste management company could be a great option for growth investors. It hasn’t been listed on the market for long, but in a short space of time it has really impressed me. This was especially the case during the first-half of FY 2018 when Bingo reported half-year revenues of $141.7 million and pro forma net profit after tax of $21.3 million. This was a 43.2% and 37.1% increase, respectively, on the prior corresponding period. Thanks to its long-term growth plans, I believe Bingo could continue to deliver above-average earnings growth for some time to come.
Macquarie Telecom Group Ltd. (ASX: MAQ)
This telecommunication and hosting services provider could be a great way to gain exposure to the data centre boom. Its data centre segment has been growing exceptionally strong and is quickly becoming an integral part of the company. With demand expected to continue to increase for the foreseeable future, I think Macquarie Telecom could be a great option for growth investors and a quality alternative to Nextdc Ltd (ASX: NXT).
Lastly, here are three more mid cap growth shares that should not be missed this month.
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Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. 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.