If you're looking to bolster your portfolio with some growth shares, then you might want to take a look at the ones listed below.
Here's why these quality ASX growth shares have been tipped as ones to buy right now:
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Altium Limited (ASX: ALU)
The first ASX growth share to look at is Altium. It is the printed circuit board (PCB) design software provider behind the popular Altium Designer platform. Over the last few years, Altium has earned itself a leading position in a growing electronic design market.
But management isn't settling for that and is now aiming to dominate this market with its cloud-based Altium 365 product. And while the short term will be tough because of the COVID headwinds it is facing, the future remains very bright. This is thanks to the proliferation of electronic devices globally, which is driving demand for specialist design software.
Analysts at Credit Suisse are positive on its future. The broker currently has an outperform rating and $35.00 price target on Altium's shares.
IDP Education Ltd (ASX: IEL)
Another growth share to look at is IDP Education. It is a provider of international student placement and English language testing services. The company is also co-owner of the high stakes language test, IELTS. It has been operating for almost 50 years and has offices in over 30 countries.
Given how international student travel has come to a standstill, IDP Education has been hit hard by the pandemic. However, the company has a very strong balance sheet, which appears to have put it in a strong position to ride out the storm. This is something that many of its competitors may not have, which could mean market share gains for IDP once the crisis passes.
Analysts at Morgans are fans of the company and currently have an add rating and $25.09 price target on its shares. They believe that IDP Education is well placed for growth once trading conditions return to normal.
