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3 stellar ASX growth shares to buy in February

I believe Australian investors are spoilt for choice when it comes to growth shares. But with so many high quality and fast-growing shares to choose from, it can be hard to decide which ones to buy.

To give investors a hand, I thought I would pick out three fast-growing companies which I believe could be great investments in February.

Here’s why I would buy these shares:

Audinate Group Limited (ASX: AD8)

Audinate is a digital audio-visual networking technologies provider. Its industry-leading technology distributes digital audio and video signals over computer networks rather than through traditional analogue cables. This is a much more efficient way of doing things and has proven very popular with end users. This has led to increasing demand for its technology, which, combined with the expansion of both its offering and footprint, have led to very strong sales growth over the last couple of years. The good news is that I expect this trend to continue for some time to come. Especially given the recent launch of its first video product, which opens up Audinate to another lucrative market.

Cochlear Limited (ASX: COH)

Another growth share to consider buying is Cochlear. I believe the hearing solutions company is well-positioned for strong long term growth thanks to the ageing populations tailwind. By 2050 there are forecast to be 1.5 billion people over the aged of 65. This will be almost triple the number of over 65s in 2010. As our hearing invariably fades as we age, I expect this tailwind to drive a sustained increase in demand for its cochlear implantable devices for the hearing impaired over the next couple of decades.

Xero Limited (ASX: XRO)

A final growth share to consider buying in February is Xero. It is a leading cloud-based business and accounting software provider which has been growing its customer numbers and recurring revenues at a very strong rate in recent years. Pleasingly, due to the quality and stickiness of its platform and its massive global market opportunity, I remain confident Xero can continue its impressive growth for many more years to come.

And here are more quality ASX growth shares that have been tipped for big things in the 2020s.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of AUDINATEGL FPO and Cochlear Ltd. The Motley Fool Australia owns shares of Xero. The Motley Fool Australia has recommended AUDINATEGL FPO and Cochlear Ltd. 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.

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