4 stellar ASX growth shares to buy right now

Here’s why I think investors ought to buy Appen Ltd (ASX:APX) and these three ASX growth shares in October…

| More on:
Investor riding a rocket blasting off over a share price chart

Image source: Getty Images

Are you looking to add some ASX growth shares to your portfolio this month? If you are, then you might want to take a look at the four listed below.

I believe these ASX growth shares are among the best on offer on the Australian share market right now. Here’s why I would buy them:

Appen Ltd (ASX: APX)

The first ASX growth share to buy is Appen. It is a leading developer of high-quality, human annotated datasets for machine learning and artificial intelligence (AI). Though its million-strong crowd sourced team of experts, Appen prepares the data that goes into the AI models of some of the biggest tech companies in the world. Given how investment in AI and machine learning is expected to grow rapidly in the future, I believe Appen is well-placed for growth over the next decade.

ELMO Software Ltd (ASX: ELO)

ELMO is a cloud-based human resources and payroll software company. It provides a unified platform to streamline processes for employee administration, recruitment, on-boarding, learning, performance, remuneration, compliance training and payroll. It has been a strong performer in recent years and looks well-placed to continue this trend in FY 2021 and over the next decade. Especially given how management has approximately $139 million to deploy on value accretive acquisitions.

Kogan.com Ltd (ASX: KGN)

Another ASX growth share to buy is Kogan. It is a rapidly growing ecommerce company which has been benefiting greatly in 2020 from the accelerating shift to online shopping. This has resulted in stellar active customer and sales growth. And thanks to its improving margins, the company’s earnings growth has been even more explosive. As with ELMO, the company has undertaken a capital raising this year to provide it with the funds to make value accretive acquisitions.


Another ASX growth share which I think would be a great long term option for investors is NEXTDC. I believe the data centre operator is well positioned to capitalise on the increasing amount of data being generated by consumers and businesses. This consumption is only going to increase in the future as more software moves to the cloud and 5G internet adoption grows. I expect this to lead to growing demand for capacity in its world class data centres.

Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks 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.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

*Returns as of 15/2/2021

James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Elmo Software. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd. The Motley Fool Australia owns shares of Appen Ltd. The Motley Fool Australia has recommended Elmo Software and Kogan.com 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.

More on Growth Shares

a happy investor with a wide smile points to a graph that shows an upward trending share price
Growth Shares

2 stellar ASX 200 growth shares analysts rate as buys

Here are a couple of exciting growth shares that have been rated as buys...

Read more »

Rocket powering up and symbolising a rising share price.
Growth Shares

Analysts name 2 ASX growth shares to buy now

Here are two ASX growth shares to buy...

Read more »

A laughing woman wearing a bright yellow suit, black glasses and a black hat spins dollar bills out of her hands signifying the big dividends paid by BHP
Growth Shares

2 ASX growth shares I’d buy today with $5,000

ASX growth shares are looking like attractive opportunities. Here are two.

Read more »

A hand hovers over a laptopn sparkling with tech symbols, indicating ASX technology shares
Growth Shares

2 beaten down ASX tech shares analysts say have major upside potential

These beaten down tech shares could be buys according to analysts...

Read more »

A woman sits at her computer with hand to mouth and a contemplative smile on her face although she is considering or thinking about information she is seeing on the screen.
Growth Shares

Why I think the EML share price is a long-term buy

Here's why I think EML shares are looking very good value for the long haul.

Read more »

A businessman holding a butterfly net looks around hoping to snare a good ASX share investment
Growth Shares

Why I would invest $10,000 into these ASX shares today

Here are two quality ASX shares that I would buy with $10,000...

Read more »

A woman faces the camera with her lip raised up to the side in total confusion.
Growth Shares

2 ASX-listed companies that are growing rapidly

These two ASX shares have dropped heavily, yet as companies they continue to grow.

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Growth Shares

Analysts rate these ASX growth shares as buys this month

These growth shares could be buys in May...

Read more »