Based on what happened on Wall Street on Friday and current SPI futures, the Australian share market looks likely to start the week deep in the red today.
While this market volatility is disappointing, one positive is that it is pulling the prices of many quality growth shares down to even more attractive levels.
With that in mind, here are five top growth shares I would buy in 2019 after recent pullbacks:
Altium Limited (ASX: ALU)
Altium is the electronic design software company behind the award-winning Altium Designer platform. I believe it is well-positioned to continue its meteoric growth due to its exposure to the rapidly expanding Internet of Things (IoT) market and its growing Octopart business.
Appen Ltd (ASX: APX)
Appen is a global leader in the development of high-quality, human annotated datasets for machine learning and artificial intelligence. It has been growing at an extraordinary rate in recent years thanks to increasing demand for its services from some of the biggest tech companies in the world. And with demand expected to get stronger in the coming years, it looks well-positioned to continue its strong form.
Aristocrat Leisure Limited (ASX: ALL)
Aristocrat Leisure is a gaming technology company specialising in the development and sale of pokie machines and digital games. While its core pokie machine business continues to grow at a solid rate, I believe its digital segment will be the key driver of growth in the future. This lucrative market is expected to grow strongly over the next decade, putting Aristocrat Leisure in a position to benefit following recent acquisitions.
CSL Limited (ASX: CSL)
CSL is a global biotherapeutics company that I think could be a great share to own in 2019. Thanks to its strong core business, expanding plasma collection network, fledgling influenza business, and pipeline of lucrative products, I believe CSL could continue its market-beating form for many years to come. In FY 2019 management expects net profit after tax in the range of US$1,880 million to US$1,950 million, up 10% to 14% on FY 2018’s underlying result.
Webjet Limited (ASX: WEB)
Thanks to the shift to online booking and the popularity of its numerous brands, over the last few years this online travel booking company has achieved bookings growth well ahead of the industry average. Management remains confident that this will continue to be the case over the medium term, putting it in a great position to continue its above-average earnings growth for the foreseeable future. In FY 2019 EBITDA is expected to grow 26% year on year, excluding the benefits of the recently acquired Destinations of the World business.
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Altium and Appen Ltd. The Motley Fool Australia has recommended Webjet 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.