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These 3 ASX shares have doubled in value in 12 months

Over the last 12 months the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has managed to carve out a solid gain of approximately 10% excluding dividends.

While this is a strong gain, it pales in comparison to some of the gains that have been made on the local market.

The three shares below have more than doubled in value during this time. Is it too late to invest?

The Beach Energy Ltd (ASX: BPT) share price has climbed 184% since this time last year. The leading energy producer has benefited greatly from rising oil prices and acquisition of Lattice Energy. This led to the company reporting a 92% increase in full year sales revenue and an 86% lift in underlying net profit after tax last month. Pleasingly, management isn’t resting on its laurels and will invest heavily this year to support its target of increasing production to above 30 MMboe by FY 2021. This compares to total production of 19 MMboe in FY 2018. If you’re bullish on oil prices then Beach could be a good long-term option.

The Bravura Solutions Ltd (ASX: BVS) share price is up a massive 160% over the last 12 months. Investors appear to have been very impressed at the post-IPO performance of the provider of software solutions for the wealth management, life insurance, and funds administration industries. Last month Bravura delivered a 27% increase in underlying NPAT to $27 million thanks to the growing popularity of its Sonata wealth management platform. Sonata revenue increased 32% to $122.5 million in FY 2018, representing 55% of group revenue. I expect this strong form to continue in FY 2019, making it a share to consider.

The Redbubble Ltd (ASX: RBL) share price has rocketed 141% higher since this time last year. I can’t say I’m surprised by this impressive rise, especially considering how strongly the ecommerce company performed in FY 2018. Redbubble delivered a 29.7% increase in revenue to $182.8 million and a 27.5% lift in gross profit to $63.9 million. This was driven by a 38.1% year-on-year increase in customers to 3.97 million and a 28.2% lift in selling artists to 298,700. Despite its strong share price gain over the last 12 months, I’d still class Redbubble’s shares as a buy.

Could these hot stocks be the next ones to double in value? I wouldn't be too surprised if they did given their strong growth prospects.

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

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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 Bravura Solutions Ltd and REDBUBBLE FPO. 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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