With so many quality growth shares listed on the Australian share market, growth investors certainly are a lucky bunch.
But with so many to choose from it can be hard to decide which ones to buy.
To narrow things down I have picked out three growth shares which I think are well worth considering right now. Here's why I like them:
Afterpay Touch Group Ltd (ASX: APT)
Although Afterpay Touch is certainly a high risk investment option due to the amount of future growth that has already been priced into its shares, I feel confident that the company will live up to the market's expectations and be a very rewarding investment. Especially after its recent update revealed that its buy now, pay later platform has had an incredibly positive start to life in the U.S. market. If the company can build on this and succeed in the UK market as well, then I believe there's a strong probability that its shares will generate above-average returns for shareholders over the next decade.
Domino's Pizza Enterprises Ltd (ASX: DMP)
Another growth share to consider is this pizza chain operator. Although its performance over the last couple of years has been a touch underwhelming, I believe it is worth being patient with the company. This is because management aims to double its store network from a total of 2,454 stores today, to 4,900 stores by 2025-2028. If the company can deliver on this target then I expect it to underpin strong sales growth over the next decade. One broker that is positive on the company is Goldman Sachs. It recently upgraded its shares to a buy rating with a $50.50 price target. This implies potential upside of over 23% from the last close price.
Webjet Limited (ASX: WEB)
Over the last five years Webjet has grown its earnings by an average of 34.6% per annum. Due to the popularity of its numerous travel booking brands, the shift to online booking, and acquisition opportunities, I think the online travel agent is well-positioned to continue its strong form for many years to come. This could make it one of the best growth shares to own with a long term view, especially with its shares changing hands at a reasonable 23x estimated full year earnings.
