Looking to add some growth shares to your portfolio next week? Listed below are three fast-growing companies that I think could be worth considering.
Here’s why I think these ASX growth shares could be top long term investment options:
Bravura Solutions Ltd (ASX: BVS)
Bravura Solutions is a financial technology company best known for the Sonata wealth management platform. This popular wealth management platform allows advisers to connect and engage with clients via computers, tablets, or smartphones. Demand for the platform has been growing very strongly in the past few years and shows no signs of slowing. And together with recent acquisitions that have given Bravura access to new and lucrative markets, I believe it is well-positioned to grow its earnings at a solid rate over the long term.
Another growth share to consider buying is PolyNovo. It is the medical device company behind the NovoSorb Biodegradable Temporising Matrix (BTM) product. This product was developed at CSIRO and is a wound dressing intended to treat full-thickness wounds and burns. Its current target market has a massive $1.5 billion addressable opportunity, but management isn’t settling for that. It is busy looking to expand its use into hernia and breast treatment markets. If this is successful, it would add $6 billion to its addressable market.
Zip Co Ltd (ASX: Z1P)
This payments company has well and truly broken out of the shadow of Afterpay Ltd (ASX: APT) in 2020 with very impressive sales, customer, and merchant growth. It also announced its expansion into the massive United States market via the acquisition of QuadPay. If the company can make a success of this expansion, it could be destined for further explosive growth over the coming years. And while the Zip Co share price is certainly not cheap after its incredible rise over the last few months, I would still buy its shares if you plan to make a long term investment.
5 stocks under $5
We hear it over and over from investors, "I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I'd be sitting on a gold mine!" And it's true.
And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!
*Extreme Opportunities returns as of June 5th 2020
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of POLYNOVO FPO and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Bravura Solutions Ltd. The Motley Fool Australia owns shares of AFTERPAY T FPO. 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.
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