On Christmas Day I picked out 10 top ASX shares that I think could be great options for investors in 2020.
But they weren't the only shares that I would be buying right now. Here are 10 more top ASX shares to own in 2020:
Nearmap Ltd (ASX: NEA)
Nearmap is a leading aerial imagery technology and location data company that has been growing at an exceptionally strong rate in recent years. Pleasingly, this strong form looks set to continue in FY 2020. Management recently confirmed that it was confident of achieving annualised contract value growth of 28.6% to 33% this year. This is still only a fraction of the global aerial imagery market which is estimated to be worth US$10.1 billion in 2020.
Opthea Ltd (ASX: OPT)
Opthea is a developer of novel biologic therapies for the treatment of eye diseases. The key product in its portfolio is the OPT-302 combination therapy. Earlier this year its Phase 2b study delivered exceptional results. This is a big positive as the current standard of care treatments for wet age-related macular degeneration and diabetic macular edema had sales of over US$3.7 billion and US$6.2 billion in 2018.
Paradigm Biopharmaceuticals Ltd (ASX: PAR)
Paradigm is a biopharmaceutical company which is repurposing Pentosan Polysulfate Sodium (PPS) to treat osteoarthritis. Study results thus far have been very positive. This could be a big deal given how there are over 31 million osteoarthritis sufferers in the United States alone.
REA Group Limited (ASX: REA)
REA Group is the owner and operator of the market-leading realestate.com.au website and several international equivalents. It has been a solid performer in recent years despite the housing market downturn. So with the housing market rebounding in recent months, I believe its medium to long term outlook is looking very favourable.
ResMed Inc. (ASX: RMD)
ResMed is a medical device company focused on the sleep treatment market. Thanks to its industry-leading products and its massive market opportunity, I believe it is well-placed to deliver solid long-term earnings growth. In respect to its market opportunity, management estimates that there are 1 billion people impacted by sleep apnoea worldwide. However, only ~20% of these sufferers have been diagnosed.
SEEK Limited (ASX: SEK)
This job listings company could be a strong performer over the next decade thanks to its investments in growth opportunities. These investments are expected to play a key role in the company achieving its aspirational revenue target of $5 billion by FY 2025. This will be a big lift on the revenue of $1,537.3 million it recorded in FY 2019.
Serko Ltd (ASX: SKO)
Serko is an online travel booking and expense management provider. I think it is one of the best small cap shares due to the quality of its offering and its strong growth potential. Another positive is that it recently raised NZ$45 million to accelerate its growth. Travel booking giant Booking.com was a cornerstone investor in this capital raising.
Webjet Limited (ASX: WEB)
Another top option for 2020 could be Webjet. This is due its strong long-term growth potential thanks to its popular brands, the shift to online booking, and acquisition opportunities. Another reason I'm bullish on Webjet is management's focus on increasing its margins significantly over the coming years. This should be very supportive to its earnings growth over the medium term.
Xero Limited (ASX: XRO)
Xero is a leading cloud-based business and accounting software provider. I think it could be a great buy and hold investment option due to the quality of its product and the continued shift to online accounting. It recently announced that it has surpassed 2 million subscribers. Despite this impressive growth, it is still only a small portion of a massive global market opportunity.
Zip Co Ltd (ASX: Z1P)
A final ASX share to consider buying is Zip Co. I believe it is well-positioned to grow strongly over the next decade thanks to the increasing popularity of buy now pay later as a payment method and its global expansion. Another positive is the company's plan to launch and accelerate the growth of its Zip Biz product. This is a buy now pay later solution for small businesses. It offers up to $25,000 in revolving credit.
