If you're investing with a long term view, then I think the three ASX shares listed below could be the ones to buy.
I believe their strong business models and positive long term growth outlooks mean they could be market beaters over the next decade and beyond. Here's why I'm bullish on them:
Pushpay Holdings Group Ltd (ASX: PPH)
Pushpay is a donor management platform provider for the faith and not-for-profit sectors. It has been growing its share of the medium to large church market at a very strong rate in recent years. This has led to some very strong strong operating revenue and earnings growth. The good news is that Pushpay still only has a modest share of its target market and is aiming to grow its share to 50% in the future. This represents a US$1 billion opportunity, which is many times its current revenue. I think this makes Pushpay a fantastic buy and hold option.
REA Group Limited (ASX: REA)
Another great buy and hold option is REA Group. It is a leading property listings company with real estate websites in Europe, Asia, the United States, and of course Australia. While trading conditions are not easy at present, REA Group has still been able grow its earnings. I believe this demonstrates the resilience of its business model. I also feel it bodes well for the future and expect its earnings growth to accelerate when the headwinds ease.
ResMed Inc. (ASX: RMD)
A final buy and hold option is ResMed. I think the medical device company is one of the best healthcare shares on the ASX and a great long term option. This is due to its focus on the growing sleep treatment market. The company estimates that there are ~1 billion people suffering from sleep apnoea worldwide, with only ~20% of these sufferers having been diagnosed. Due to the quality of its industry-leading masks and software solutions, I believe it is perfectly positioned to capture a growing slice of this market..
