Should you buy WiseTech Global and 2 other stellar growth shares?

Is it time to buy WiseTech Global Ltd (ASX:WTC) shares and two other top growth shares?

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of WiseTech Global. 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.

More on Growth Shares

a happy investor with a wide smile points to a graph that shows an upward trending share price
Growth Shares

Here are the top five ASX 200 shares in Macquarie's model growth portfolio

These ASX 200 shares are highly rated by analysts at Macquarie.

Read more »

a man with a wide, eager smile on his face holds up three fingers.
Growth Shares

3 ASX shares to buy in 2024 and hold for the next 10 years

Analysts think these top shares are in the buy zone right now.

Read more »

A man leans forward over his phone in his hands with a satisfied smirk on his face although he has just learned something pleasing or received some satisfying news.
Growth Shares

4 ASX growth shares I think will benefit from interest rate cuts in 2024

Not only will home loan holders rejoice, investors of these stocks could also be yelling with joy when the Reserve…

Read more »

A smiling woman sits in a cafe reading a story on her phone about Rio Tinto and drinking a coffee with a laptop open in front of her.
Growth Shares

3 of the best ASX growth shares to buy now

Analysts see plenty of upside for these buy-rated shares.

Read more »

A man and woman in an office look at a laptop and discuss investing, budget strategies or other financial concepts
Growth Shares

Here's why analysts love these buy-rated ASX 200 growth shares

There's a reason analysts are feeling bullish about these companies.

Read more »

A woman with strawberry blonde hair has a huge smile on her face and fist pumps the air having seen good news on her phone.
Growth Shares

Big returns could be coming for high-flying Lovisa shares

Morgans doesn't believe it is too late to snap up this hot stock.

Read more »

Smiling young parents with their daughter dream of success.
Growth Shares

Why these ASX 200 growth shares could be top buys now

Analysts are feeling bullish about these growth stocks. Let’s see what they’re saying.

Read more »

Concept image of a man in a suit with his chest on fire.
Growth Shares

Ignore the noise and buy this hot ASX growth stock

A recent pullback may have created a buying opportunity according to Bell Potter.

Read more »