The Motley Fool

3 quality ASX growth shares with bold aspirational revenue targets

There are a good number of companies on the local share market that have the potential to grow strongly in the medium term.

Three which have management teams that are particularly bullish on the future are listed below. They are so positive they have set themselves bold aspirational revenue targets for the medium term.

If they deliver on their targets then I believe they could provide very strong returns for investors. They are as follows:

Altium Limited (ASX: ALU)

Altium is an electronic design software company. Thanks to its exposure to the rapidly growing Internet of Things (IoT) market, it has been growing its sales and profits at a very strong rate. And as most IoT devices contain printed circuit boards (PCBs) inside them, demand for its award-winning Altium Designer platform looks set to grow strongly over the next decade. Combined with its other growing businesses, Altium has set itself an aspirational revenue target of US$500 million by FY 2025. This compares to its guidance of US$205 million to US$215 million in FY 2020. I’m confident Altium will deliver on this.

LiveTiles Ltd (ASX: LVT)

LiveTiles is a digital workplace platform provider that is aiming to simplify processes and enhance productivity through the creation of internal dashboards, intranet portals, and collaborative online working environments. It has close ties with tech giant Microsoft and is aiming to leverage this to grow its annualised recurring revenue (ARR) materially over the coming years. It has set itself a target of growing its ARR organically to $100 million by June 2021. This compares to the ARR of $42.9 million it posted in the first quarter of FY 2020. I’m not overly convinced that LiveTiles will achieve this after a slow start to FY 2020, but I’ll be keeping a close eye on its progress. 

SEEK Limited (ASX: SEK)

A final company with a bold aspirational revenue target is SEEK. The job listings giant has been investing heavily in future growth opportunities in recent years and it expects these investments to bear fruit in the coming years.  So much so, SEEK’s management has set itself an aspirational revenue target of $5 billion by FY 2025. This compares to the revenue of $1,537.3 million it posted in FY 2019. I wouldn’t bet against the company achieving this ambitious goal.

And here are five top growth shares that are trading at prices that should not be missed in 2020.

NEW. Analyst Names 5 Shares to Buy in 2020….

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully franked yield...

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!

Motley Fool contributor James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia owns shares of Altium. The Motley Fool Australia has recommended LIVETILES FPO and SEEK 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.

FREE REPORT: Five Cheap and Good Stocks to Buy now…

Our Motley Fool experts have FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.7% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!