Due to having a higher than average tolerance for risk, I'm a big fan of growth shares.
Which is quite lucky because I think the Australian share market is home to a large number of quality growth shares right now.
Three top growth shares which I think could be in the buy zone are listed below:
Appen Ltd (ASX: APX)
This developer of high-quality, human annotated datasets for the machine learning and artificial intelligence markets is one of my favourite tech shares. I think the fact that it counts many of the world's largest tech companies as its customers is a testament to the quality of its services. With both the machine learning and artificial intelligence markets tipped to grow significantly in the future, I believe Appen is well-positioned for long-term growth. This year the company is on track to grow EBITDA by an impressive 95% year-on-year.
Bingo Industries Ltd (ASX: BIN)
While waste management is nowhere near as sexy as machine learning and artificial intelligence, that doesn't mean that Bingo Industries wouldn't be a great option for growth investors. Since listing on the ASX the company has outperformed its prospectus forecasts and looks well-positioned to continue performing strongly for the foreseeable future. Especially given its plan to expand its predominantly NSW-based business nationwide over the next decade. I expect this expansion, population growth, and the industry's high barriers of entry will allow Bingo to grow its bottom line at an above-average rate.
Webjet Limited (ASX: WEB)
Another company which I think can grow earnings at a strong rate over the medium term is Webjet. The online travel agent has a number of popular brands in its portfolio and all have been growing ahead of the industry average. With the shift to online booking gathering pace, I expect this strong growth will continue for some time to come. This should be supported by the inorganic growth generated from its acquisition of JacTravel.
