As a big fan of growth shares, I feel very fortunate to have such a large number to choose from on the Australian share market.
However, with so many to choose from it can be hard to decide which ones to buy.
With that in mind, are these top growth shares in the buy zone?
Aristocrat Leisure Limited (ASX: ALL)
I think the shares of this leading gaming technology company offer a compelling risk/reward for growth investors at the current level. As well as having a leading position in the pokie machine market with some of the world's most popular and in-demand machines, the company has exposure to the rapidly growing social and mobile gaming markets. I believe this will allow Aristocrat to achieve strong earnings growth over the next decade, making its shares great value at just 18x estimated full year earnings.
Domino's Pizza Enterprises Ltd (ASX: DMP)
I think that this leading pizza chain operator would be a great option for growth investors due to its significant long-term expansion plans in Australia, Japan, and Europe. By 2025 the company intends to almost double its footprint in existing territories. I believe this and its focus on margin improvements will lead to above-average earnings growth over the next six years, making it a top buy and hold option. However, with its half year results due to be released on Thursday, investors may want to keep their powder dry until those have been announced.
WiseTech Global Ltd (ASX: WTC)
This logistics solutions company's shares have been on fire over the last 12 months and currently trade on sky high multiples. While this does make them a high risk option and unsuitable for the average investor, I believe its strong long term growth prospects could make it a great buy and hold option for growth investors. After all, WiseTech Global's software is quickly becoming an integral part of the global supply chain.
