If you’re looking to invest $2,000 evenly across a couple of growth shares, then you might want to take a look at the ones listed below.
Combined, I believe these ASX growth shares could turn those funds into something much larger over the next decade. Here’s why I think they are in the buy zone:
Bravura Solutions Ltd (ASX: BVS)
The first ASX growth share to consider buying is Bravura Solutions. It is a leading provider of software products and services to the wealth management and funds administration industries. It offers a number of quality products such as the world class Sonata wealth management platform. This popular wealth management platform allows advisers to connect and engage with clients via computers, tablets, or smartphones.
It also has the Rufus transfer agency solution, the Garradin back office solution, and the recently acquired Midwinter financial planning software. The latter gives Bravura a new avenue for growth in an industry benefiting from structural tailwinds. Overall, I believe these quality products leave the company well-positioned in a very lucrative market. This could lead to the company delivering above-average earnings growth over the 2020s and make the Bravura share price a market beater over the period.
Xero Limited (ASX: XRO)
I think Xero is a growth share to consider buying right now. It is one of the world’s leading cloud-based business and accounting software providers which has been growing at a rapid rate over the last few years. This certainly was the case in FY 2020 results when Xero revealed further strong growth in sales and operating earnings. This was driven by stellar customer growth, price increases, and its sky high retention rate.
The good news is that Xero still has a very long runway for growth over the next decade. This is thanks to its global expansion and particularly its opportunity in the United States. At the end of FY 2020, Xero had just 241,000 subscribers in the North American market. This compares to 914,000 subscribers in a significantly smaller ANZ market.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
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 Xero. The Motley Fool Australia owns shares of and has recommended Bravura Solutions Ltd. 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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