4 quality ASX growth shares rated as buys

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With the shift back to growth shares in full swing, now could be a good time for investors to look at the shares below.

Here’s why they are rated highly:

Altium Limited (ASX: ALU)

Altium is an award-winning printed circuit board (PCB) design software provider. Over the last few years, it has carved out a leading position in this growing market. It is now aiming to take things to the next level and dominate the market with its cloud-based Altium 365 product.

Credit Suisse is positive on the company. It currently has an outperform rating and $42.00 price target.

Aristocrat Leisure Limited (ASX: ALL)

Aristocrat Leisure is one of the world’s leading gaming technology companies. While the pandemic hit Aristocrat hard, it has bounced back strongly in recent quarters and appears to be winning market share. Pleasingly, despite economies reopening, its digital business continues to grow strongly and generate significant recurring revenues.

Citi is a fan of the company. It has a buy rating and $46.00 price target on its shares.

Nanosonics Ltd (ASX: NAN)

Another growth share to look at is Nanosonics. It is the infection control specialist behind the industry-leading trophon EPR disinfection system for ultrasound probes. This system has been growing its footprint at a strong rate over the last few years, generating solid unit and consumables sales.

UBS is positive on Nanosonics and believes it will benefit from the post-COVID infection prevention thematic. It has a buy rating and $7.00 price target on the company’s shares.

REA Group Limited (ASX: REA)

Finally, REA Group could be a growth share to consider. It is of course the dominant player in real estate listings in the Australian market. This puts it in a fantastic position to benefit from the housing market boom. In addition to this, cost cutting, new revenue streams, price increases, and acquisitions look set to give its sales and earnings a boost.

Macquarie is bullish on REA Group. It currently has an outperform rating and $179.10 price target on its shares.

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James Mickleboro does not own any shares mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Altium and Nanosonics Limited. The Motley Fool Australia owns shares of and has recommended Altium and Nanosonics Limited. The Motley Fool Australia has recommended REA Group 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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