If you're looking for additions to your portfolio in April, then I think the three ASX shares listed below would be great options.
I believe they are amongst the best on offer on the Australian share market and could generate strong returns for investors over the next decade.
Here's why I rate them as five-star stocks:
Afterpay Ltd (ASX: APT)
Although the coronavirus outbreak could stifle its growth in the immediate term, it hasn't done so far. The buy now pay later provider recently released its third quarter update which revealed quarterly underlying sales of $2.6 billion. This was a 97% increase on the prior corresponding period. Pleasingly, it also revealed stable losses and income margins for the quarter, which I believe is starting to demonstrate the resilience of its business model. Overall, I'm confident that its long term prospects remain as bright as ever and expect strong returns over the next decade.
NEXTDC Ltd (ASX: NXT)
Another share that I rate as five stars is NEXTDC – Asia's most innovative Data Centre-as-a-Service provider. NEXTDC is busy building the infrastructure platform for the digital economy. I believe this leaves it exceptionally well-positioned to benefit from the cloud computing boom. This is because as cloud computing usage increases, demand for its innovative data centre outsourcing solutions and connectivity services is likely to increase with it. Pleasingly, this has proven accurate. Demand has proven to be so strong, the company recently announced plans to build a new data centre in Sydney.
Pushpay Holdings Group Ltd (ASX: PPH)
A final share that I would give five stars to is Pushpay. It is a fast-growing donor management platform provider for the faith sector. It has grown its market share in the United States at a rapid rate over the last few years, leading to stellar revenue growth. This has continued in FY 2020. During the first half, the company's operating revenue jumped 31% to US$56 million. This was driven by increasing customer numbers and a 20% lift in average revenue per customer (ARPC) to US$1,272. The good news is that Pushpay still has a significant market opportunity to grow into and a stronger product offering following the acquisition of church management system provider Church Community Builder.
