If you're interested in growth shares then you're in luck, because the majority of them have been indiscriminately sold off this month due to the coronavirus outbreak.
When the market volatility finally eases, I think a good number of them will be bargain buys.
Here are three growth shares to consider buying:
a2 Milk Company Ltd (ASX: A2M)
This infant formula and fresh milk company has been growing at a very strong rate over the last few years. The key driver of this growth has been the increasing demand for its a2-only infant formula products in the massive China market. The good news for a2 Milk Company is that competition in this key market has lessened over the last 18 months thanks to stricter regulations. I expect this, its strong brand, and unique selling point to lead to further market share gains in the coming years and drive strong earnings growth.
Aristocrat Leisure Limited (ASX: ALL)
Aristocrat Leisure is one of the world's leading gaming technology companies. Its shares have fallen hard this month due to the closure of casinos globally. This has unsurprisingly led to concerns over the short term demand for Aristocrat Leisure's pokie machines. Whilst I suspect that its FY 2020 earnings will be negatively impacted by this development, I think the selloff of its shares has been overdone. Especially given how its growing Digital business looks well-positioned to benefit from these closures and self-isolating measures. In light of this, I think it could be worth considering a long-term and patient investment in its shares.
Pushpay Holdings Ltd (ASX: PPH)
Pushpay is a payments company which provides an increasingly popular donor management system for the faith sector and non-profit organisations in North America and the ANZ region. The company's innovative solutions simplify engagement, payments, and administration. This allows its users to increase participation and build stronger relationships with their communities. Demand for its system has been growing strongly, even during the coronavirus crisis. I expect more of the same over the coming years thanks to its large addressable market, leadership position, and recent acquisitions.
