If you're looking to invest in a growth share or two, then you might want to consider the ones listed below.
Here's why these ASX shares could be top options for growth investors looking at long term options:
Afterpay Ltd (ASX: APT)
Afterpay could be a great buy and hold option for investors. This is thanks to its leadership position in the rapidly growing buy now pay later (BNPL) industry and its expansion into other financial products.
In respect to the former, Afterpay is a leader in the Australia, UK, and US BNPL markets. It has also just completed its acquisition of Pagantis in Europe, allowing it to commence its rollout in the region. But it doesn't stop there. A couple of small acquisitions in Asia means that an expansion in this potentially lucrative region could be on the cards in the near future.
As for the expansion of its product offering, very shortly Afterpay will begin offering banking products such as transaction accounts via the Afterpay Money app. There is even speculation that it could expand into other products such as personal loans and mortgages in the future.
It is partly for this reason that Bell Potter is so positive on the company. According to a recent note, the broker has a buy rating and and $168.50 price target on Afterpay's shares.
Domino's Pizza Enterprises Ltd (ASX: DMP)
Another ASX growth that could be a top buy and hold investment option is Domino's. This pizza chain operator's half year result was arguably the highlight of earnings season last month.
Strong demand for its pizzas in the ANZ, European, and Japanese markets underpinned very strong sales growth. And thanks to operating leverage, its profits grew at an even stronger rate.
Pleasingly, management is expecting an even stronger performance during the second half, which is likely to lead to a bumper profit result in August.
The good news is that Domino's growth isn't anywhere near ending. In fact, at the end of the first half the company had a network of 2,800 stores. It is now aiming to double the size of this in the coming years. And that's just from its existing markets, the company is looking for acquisitions and could expand into new territories in the future to give it an even larger growth runway.
Analysts at Goldman Sachs are very positive on the company's future. As a result, the broker recently put a buy rating and $112.60 price target on its shares.
