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3 growth shares to buy in December

A new month is upon us and what better time to take a look at your portfolio and consider some new additions.

If you’re interested in growth shares then the three listed below could be great options next month. Here’s why I like them:

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 growth share to buy and hold for the long-term. Although its shares have rallied notably higher since the release of upgraded guidance for FY 2018, they are still significantly lower than their 52-week high. So with the company well-positioned for long-term growth due to its exposure to the fast-growing machine learning and artificial intelligence markets, I think Appen is well worth considering in December.

Bellamy’s Australia Ltd (ASX: BAL)

While FY 2019 looks set to be a transitional year for Bellamy’s as it launches a new formulation and awaits its SAMR accreditation, I believe the short term pain could create significant long-term gain for this infant formula company. Management certainly appears to believe that this is the case. It recently reiterated that it expects to grow its sales to $500 million by FY 2021. This compares to expectations of sales of approximately $330 million in FY 2019. If it delivers on its targets then I believe shareholders will be rewarded handsomely.

Domino’s Pizza Enterprises Ltd (ASX: DMP)

Another growth share that I think would be worth considering as a long term investment is this pizza chain operator. Although its performance has been a touch underwhelming over the last 12 to 18 months, I remain confident that its growth plans mean the company could increase significantly in size in the future. Domino’s recently reaffirmed its target of 4,650 stores by 2025. This compares to 2,393 stores at the end of FY 2018.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Appen Ltd. The Motley Fool Australia has recommended Domino's Pizza Enterprises Limited. 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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