Are you planing to add some more ASX shares to your portfolio?
Three ASX shares that could be worth considering this month are listed below. Here’s what you need to know about them:
Domino’s Pizza Enterprises Ltd (ASX: DMP)
The first ASX share to look at is Domino’s. The pizza chain operator could be a good option for investors due to its strong long term growth outlook. At the end of the first half, Domino’s had a network of 2,800 stores. But it isn’t settling for this and is now aiming to grow its network organically to 5,500 stores by 2033. Management is also looking for possible acquisitions, which would increase its footprint even further. Combined with its same store sales growth target, Domino’s looks well-placed for growth over the long term.
Morgans currently has an add rating and $119.00 price target on the company’s shares.
Kogan.com Ltd (ASX: KGN)
Kogan is another option to consider. The leading ecommerce company has been growing very strongly due to the shift to online shopping. For example, during the first half of FY 2021, Kogan delivered a 97.4% increase in gross sales to $638.2 million and a 250.2% jump in adjusted net profit after tax to $36.5 million. While its growth will inevitably moderate once the pandemic passes, its long term outlook remains very favourable.
Credit Suisse has an outperform rating and $20.85 price target on its shares.
Nearmap Ltd (ASX: NEA)
Another option to consider is Nearmap. It is a growing aerial imagery technology and location data company. It provides businesses in the ANZ and North American markets with instant access to high resolution aerial imagery, city-scale 3D datasets, and integrated geospatial tools. Management is confident in its growth trajectory and is targeting annualised contract value (ACV) growth of 20% to 40% per annum over the long term.
Goldman Sachs currently has a buy rating and $2.95 price target on Nearmap’s shares.
Where to invest $1,000 right now
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James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of and has recommended Nanosonics Limited and Nearmap Ltd. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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