If you're wanting to boost your portfolio with some quality 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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Domino's Pizza Enterprises Ltd (ASX: DMP)
The first ASX growth share to look at is this pizza chain operator. Domino's has been growing at a strong rate over the last decade thanks to consistent like for like sales growth and the expansion of its store network footprint.
Positively, this strong form has continued in FY 2021. Last month Domino's released its half year results and revealed a 16.5% increase in total global food sales to $1.84 billion.
While its top line growth was impressive, its bottom line was even more so. Thanks to operating leverage, Domino's delivered a sizeable 32.8% increase in underlying net profit after tax to $96.2 million.
But perhaps best of all, is that management is expecting an even stronger performance in the second half. In light of this, Domino's looks set to deliver a bumper full year profit in FY 2021.
Analysts at Macquarie are confident this will be the case. As a result, they have put an outperform rating on its shares and lifted their price target to $120.20.
Kogan.com Ltd (ASX: KGN)
Another ASX growth share that is highly rated is Kogan. Like Domino's, this ecommerce company has been in fine form during FY 2021.
For example, during the first half of FY 2021, Kogan reported a 96% increase in gross sales and a 140% jump in earnings before interest, tax, depreciation and amortisation (EBITDA).
This strong growth was driven by a surge in customer numbers, increased repeat customer rates, acquisitions, and the accelerating shift to online shopping.
One broker that believes Kogan is well-placed for growth over the long term is Credit Suisse. At the start of the month its analysts put an outperform rating and $21.08 price target on its shares.
