2 ASX shares I'd buy in a heartbeat

There are at least 2 ASX shares I'd buy in a heartbeat right now, including electronic donation business Pushpay Holdings Ltd (ASX:PPH).

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

ASX shares continue to rise with investor confidence seemingly growing every week.

Australia is getting close to the point of no new COVID-19 cases across the nation. Some ASX shares are soaring in reaction to how much better the outlook seems.

But there are still many places in the world where the number of infections is still rising.

With the current state of play domestically and abroad in mind, here are two ASX shares that I'd buy in a heartbeat:

Pushpay Holdings Ltd (ASX: PPH)

Pushpay is one of the businesses that is seeing an acceleration of growth due to the unfortunate circumstances. It's an electronic donation business that enables people to digitally give to not-for-profit organisations.

A key part of US churches is the congregations. COVID-19 and social distancing makes church gatherings more difficult at the moment. That also means that getting cash donations can become problematic for those churches.

Pushpay's system is perfect for this environment. The ASX share's technology also allows churches to livestream to their congregations.

The large and medium church sector is a $1 billion revenue opportunity according to Pushpay's management.

The ASX share is aiming to approximately double its earnings before interest, tax, depreciation, amortisation and foreign currency (EBITDAF) in FY21. Pushpay's profit margins could keep rising as it gets bigger over time.

Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)

There are few ASX shares that have stood the test of time like Soul Patts. It has been operating since the early 1900s. So it has already survived through the Spanish Flu, two world wars, the recessions and so on.

Soul Patts is invested in businesses that should be able to remain robust this year. Some large positions include TPG Telecom Ltd (ASX: TPM), Brickworks Limited (ASX: BKW) and Clover Corporation Limited (ASX: CLV).

The ASX share conglomerate continues to invest in new opportunities. It is reportedly about to start investing in regional data centres.

I think Soul Patts is one of those shares that you could invest in and potentially hold forever. Its ability to change its investments and invest in anything is very attractive.

A very nice bonus with this ASX share is that it has grown its dividend every year since 2000.

Foolish takeaway

I'd buy both of these ASX shares for the long-term in a heartbeat. Pushpay has a lot of exciting growth potential over the coming years. But Soul Patts could be a solid idea for long-term steady growth.

Tristan Harrison owns shares of Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of PUSHPAY FPO NZX. The Motley Fool Australia owns shares of and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended PUSHPAY FPO NZX. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Growth Shares

Cheerful boyfriend showing mobile phone to girlfriend with a coffee mug in dining room.
Growth Shares

3 ASX growth shares I'd buy with $10,000 today

These companies still have plenty to prove, but their long-term growth opportunities look attractive to me.

Read more »

A montage of planes, ships, and trucks.
Growth Shares

WiseTech buys FRDM.ai. What does this mean for WiseTech shares?

A small deal with a big strategic idea attached.

Read more »

A woman with a magnifying glass adjusts her glasses as she holds the glass to her computer screen and peers closely at it.
Growth Shares

3 growing ASX shares I'd buy and hold for 10 years

I think these growing ASX shares have the kind of platforms that could become much more valuable over time.

Read more »

A male sharemarket analyst sits at his desk looking intently at his laptop with two other monitors next to him showing stock price movements
Growth Shares

Should I invest $5,000 into Goodman Group shares?

This is not a cheap ASX share, but the data centre opportunity keeps me interested.

Read more »

Disappointed man with his head on his hand looking at a falling share price his a laptop.
Growth Shares

3 ASX 200 shares down over 30% that I'd buy

The market has turned cautious on these shares, but I still see long-term growth potential.

Read more »

A stopwatch ticking close to the 12 where the words on the face say 'Time to Buy'.
Growth Shares

2 top ASX shares to buy and hold for the next decade

I’d own these businesses for the next decade or more…

Read more »

Buy and sell written on a white cube.
Growth Shares

Experts say these ASX 200 shares have great potential

These stocks could be underrated buys, according to this fund manager.

Read more »

A smiling woman with a handful of $100 notes, indicating strong dividend payments
Growth Shares

Where to invest $10,000 in ASX 200 shares in July

These shares offer quality and bags of growth. Here's what you need to know.

Read more »