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These growth shares are my best buys for November

I think it is fair to say that October was a month to forget for Australian investors.

I’m optimistic that November will be significantly better and that a number of beaten down growth shares will recover some off their sizeable declines.

Three that I would consider buying are as follows:

Appen Ltd (ASX: APX)

This global leader in the development of high-quality, human annotated datasets for machine learning and artificial intelligence could be a great option in November. It was one of the worst performers on the Australia share market in October due to the tech selloff. While this was disappointing for shareholders, I believe it is a buying opportunity for non-shareholders. At present Appen’s shares are changing hands at 27x estimated FY 2019 earnings. I think this is great value given its strong long-term growth potential.

Aristocrat Leisure Limited (ASX: ALL)

Another tech share that fell heavily last month was Aristocrat Leisure. But unlike many of its tech peers, I felt that its shares were already trading at an attractive price prior to the selloff. In light of this, I think they are arguably in the bargain bin now at just 20x estimated FY 2019 earnings. Especially given the solid growth potential of its fledgling digital business. Management believes this business is well positioned to address a broad spectrum of opportunities in the US$50 billion mobile gaming market.

Bellamy’s Australia Ltd (ASX: BAL)

The Bellamy’s share price is another growth share that fell heavily in October. However, this was largely down to disappointing guidance given for FY 2019. Management expects Australian label sales to be flat in FY 2019 due to the disruption caused by the launch of a new production formulation. While this is very underwhelming, I think investors should look beyond FY 2019 and to the future. At its annual general meeting management confirmed that it is targeting sales of $500 million by the end of FY 2021. This will be a 52% increase on FY 2018’s result.

Looking for more growth share ideas? Then don't miss out on these mid cap stars tipped for big things.

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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 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.

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