If you're looking to invest in growth shares, then you're in luck.
Because right now there are a large number of companies growing their earnings at a rapid rate.
Three top growth shares that I think would be great options next week are listed below. Here's why I would buy them:
Altium Limited (ASX: ALU)
This printed circuit board (PCB) design software provider's shares fell heavily last week after it delivered a reasonably soft half year update. Whilst this was disappointing, I believe it is just a short term hiccup and investors ought to focus on its strong long term growth potential. Management may have guided to the lower end of its full year revenue guidance range of US$205 million to US$215 million, but it appears confident in achieving its FY 2025 targets. This is for revenue of US$500 million, market dominance, and 100,000 subscribers.
Nearmap Ltd (ASX: NEA)
Another share that has disappointed in the first half is this leading aerial imagery technology and location data company. In the first half of FY 2020, heightened churn levels (due to the loss of a major customer and two downgrade events) weighed heavily on its performance and led to a reduction to its annualised contract value (ACV). The good news is that its long-term outlook remains as positive as ever thanks to the quality of its software and its massive market opportunity. Another positive is that as the company grows, its earnings base will diversify and lower the impact of similar churn events.
Pushpay Holdings Group Ltd (ASX: PPH)
A final growth share to consider buying is Pushpay. It is a leading payments company which provides a donor management platform to the faith, not-for-profit, and education sectors. Due to the quality of its product, Pushpay has been growing its share of the U.S. market at a rapid rate in recent years. This has led to the company's recurring revenues increasing very strongly. The good news is that it still has a long runway for growth. In light of this, I remain confident that more of the same is coming over the next decade. Especially after the recent acquisition of church management system provider Church Community Builder.
