There are plenty of options out there for growth investors on the Australian share market.
Two that are highly rated are listed below. Here’s what you need to know about them:
Dubber Corp Ltd (ASX: DUB)
The first ASX growth share to look at is Dubber. It is a software company that provides businesses with a scalable call recording service.
The company’s cloud-based technology allows businesses to record, manage, and analyse their phone calls and communications.
Demand for Dubber’s offering has been growing strongly over the last couple of years, leading to a significant increase in active customers and revenue.
And with the company just announcing an agreement with global giant Cisco, its growth prospects look even more positive. That agreement will see Cisco Webex Calling and Cisco Unified Communications Manager Cloud (UCM) now include Dubber call recording as part of all Cisco Webex and UCM services at no additional cost to users.
After which, if a user or business requires additional features, such as extended storage, video recording, transcription, sentiment analysis or AI-enriched insights, they can then upgrade their Dubber plan from within Cisco’s Control Hub with immediate access and effect.
Shaw and Partners currently has a buy rating and $3.03 price target on the company’s shares.
Another ASX growth share to consider is Nearmap. It is a leading aerial imagery technology and location data company’s platform provider.
Like Dubber, demand for its offering has been growing strongly in recent years. Pleasingly, management appears confident that this will continue. So much so, it is targeting annualised contract value (ACV) growth of 20% to 40% per annum over the long term.
And while a patent infringement notice is likely to weigh on sentiment in the near term, Morgan Stanley remains positive on the company. It also notes that just 25% of its North American revenue is subject to the patent dispute.
Morgan Stanley has an overweight rating and $3.20 price target on the company’s shares.