When it comes to growth shares, I continue to believe that Australian investors are spoilt for choice.
This is because right now there are a large number of high quality and fast-growing shares to consider buying on the Australian share market.
Three that I think are amongst the best on the market are listed below. Here's why I would buy these ASX growth shares:
Altium Limited (ASX: ALU)
One of my favourite growth shares on the ASX is Altium. This is because I believe the printed circuit board (PCB) design software company has the potential to grow its earnings at an explosive rate over the next decade. The key driver of this is its exposure to the rapidly growing Internet of Things market. This market is forecast to grow at an incredible rate in the future, which should drive strong demand for its award-winning, industry-leading software. In FY 2019 Altium achieved revenue of US$171.8 million and is now aiming to grow it to US$500 million by FY 2025.
Bravura Solutions Ltd (ASX: BVS)
Bravura is a leading provider of software solutions for the wealth management, life insurance, and funds administration industries. It is another growth share that I believe can grow its earnings at a very strong rate over the next decade. This is due largely to its increasingly popular Sonata wealth management platform. This high quality platform has a sizeable global market opportunity and looks well-placed to capture a big slice of it. Supporting its growth will be the recent acquisitions of Midwinter and FinoComp. These fintech businesses are expected to open the company up to new and lucrative markets.
Webjet Limited (ASX: WEB)
A final growth share to consider is Webjet. I believe this leading online travel agent could provide strong returns for investors over the next few years. This is due to the continued shift to online booking, its popular brands, and its focus on margin expansion. Another positive is its attractive valuation of under 20x estimated FY 2020 earnings. I feel this makes Webjet one of the best examples of growth at a reasonable price on the ASX.
