3 excellent ASX shares for growth investors

Here are a few options for growth investors…

| More on:
A man drawing an arrow on a growth chart, indicating a surging share price

Image source: Netflix

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

With so many growth shares to choose from on the Australian share market, it can be hard to decide which ones to buy over others.

To narrow things down, I have picked out three options that are highly rated to consider:

BetaShares Asia Technology Tigers ETF (ASX: ASIA)

The first option is actually an ETF that gives investors access to a group of highly promising growth shares in the Asian market. By buying the BetaShares Asia Technology Tigers ETF, investors will be buying a slice of 50 outstanding tech companies that are leading Asia's technological revolution. Among the companies included in the fund are the likes of Alibaba, JD.com, Pinduoduo, Samsung, Taiwan Semiconductor, & Tencent.

ELMO Software Ltd (ASX: ELO)

Another growth share to look at is ELMO. It is a HR and payroll platform provider with operations in the ANZ and UK markets. Thanks to a combination of the shift to the cloud, the quality of its platform, and acquisitions, ELMO has been growing at a strong rate in recent years. Positively, despite this strong revenue growth, it is still only scratching at the surface of its addressable market. This gives it a long runway for growth over the next decade. One broker that is positive on ELMO is Shaw & Partners. It currently has a buy rating and $9.00 price target on its shares.

Temple & Webster Group Ltd (ASX: TPW)

A final ASX growth share to look at is this online furniture and homewares retailer. It has been tipped to grow at a very strong rate over the 2020s thanks to the shift to online shopping. This is particularly the case for online furniture shopping, with is still in its infancy compared to other retail categories. Management recently revealed that it intends to cement its leadership position by investing heavily in its sales and marketing. While this will weigh on its profit growth in the short term, management believes it is worth it for the long term gains. Morgan Stanley agrees. It currently has an overweight rating and $15.00 price target on its shares.

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 Elmo Software and Temple & Webster Group Ltd. The Motley Fool Australia owns shares of and has recommended BetaShares Asia Technology Tigers ETF and Elmo Software. The Motley Fool Australia has recommended Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Growth Shares

a happy investor with a wide smile points to a graph that shows an upward trending share price
Growth Shares

Here are the top five ASX 200 shares in Macquarie's model growth portfolio

These ASX 200 shares are highly rated by analysts at Macquarie.

Read more »

a man with a wide, eager smile on his face holds up three fingers.
Growth Shares

3 ASX shares to buy in 2024 and hold for the next 10 years

Analysts think these top shares are in the buy zone right now.

Read more »

A man leans forward over his phone in his hands with a satisfied smirk on his face although he has just learned something pleasing or received some satisfying news.
Growth Shares

4 ASX growth shares I think will benefit from interest rate cuts in 2024

Not only will home loan holders rejoice, investors of these stocks could also be yelling with joy when the Reserve…

Read more »

A smiling woman sits in a cafe reading a story on her phone about Rio Tinto and drinking a coffee with a laptop open in front of her.
Growth Shares

3 of the best ASX growth shares to buy now

Analysts see plenty of upside for these buy-rated shares.

Read more »

A man and woman in an office look at a laptop and discuss investing, budget strategies or other financial concepts
Growth Shares

Here's why analysts love these buy-rated ASX 200 growth shares

There's a reason analysts are feeling bullish about these companies.

Read more »

A woman with strawberry blonde hair has a huge smile on her face and fist pumps the air having seen good news on her phone.
Growth Shares

Big returns could be coming for high-flying Lovisa shares

Morgans doesn't believe it is too late to snap up this hot stock.

Read more »

Smiling young parents with their daughter dream of success.
Growth Shares

Why these ASX 200 growth shares could be top buys now

Analysts are feeling bullish about these growth stocks. Let’s see what they’re saying.

Read more »

Concept image of a man in a suit with his chest on fire.
Growth Shares

Ignore the noise and buy this hot ASX growth stock

A recent pullback may have created a buying opportunity according to Bell Potter.

Read more »