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. Especially after the market crash brought many down to more attractive levels.
To give investors a hand, I thought I would pick out three fast-growing companies which I believe could be great investments in May. Here's why I would buy these shares:
Domino's Pizza Enterprises Ltd (ASX: DMP)
I think this pizza chain operator would be a good growth shares to own. I'm a big fan of the company due to the popularity of its pizzas with consumers and its international expansion. Although its expansion is likely to be impacted by the coronavirus lockdowns, I expect its store rollouts to accelerate once conditions return to normal. Combined with its solid like for like sales growth, I believe Domino's can grow its earnings at a solid rate for many years to come.
Nanosonics Ltd (ASX: NAN)
Nanosonics is a company which I'm especially excited about as a long term investment. This is due to the strength and growth potential of its trophon EPR disinfection system for ultrasound probes and some upcoming product launches. Not a lot is known about these secretive new products, but they are all understood to have similar market opportunities to the trophon EPR system. If they are anywhere near as successful, then the sky really will be the limit for this infection control specialist.
Xero Limited (ASX: XRO)
A final growth share to consider buying in May is Xero. It is a leading cloud-based business and accounting software provider which has been growing at a strong rate for years. The good news is that thanks to its sizeable market opportunity and high quality product, I believe it is well placed to continue this strong form for a long time to come.
