3 excellent ASX shares for growth investors in July

Looking for growth? Check out these shares…

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With so many ASX 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 for growth investors to consider. They are as follows:

Altium Limited (ASX: ALU)

The first growth share to look at is Altium. It is a leading printed circuit board (PCB) design software provider. As PCBs are found inside almost all electronic devices, this means Altium is exposed to the explosion of electronic devices globally. This bodes well for its future growth, especially given its clear leadership position in the industry. Credit Suisse remains very positive on the company. The broker currently has an outperform rating and $42.00 price target on its shares.

BetaShares Asia Technology Tigers ETF (ASX: ASIA)

Another option to consider is this ETF which gives investors access to a group of highly promising growth shares in the Asian market. The BetaShares Asia Technology Tigers ETF gives investors 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. The latter is the company behind the hugely popular WeChat app.

ELMO Software Ltd (ASX: ELO)

A final growth share to look at is ELMO. It is a HR and payroll platform provider that has been growing at a consistently strong rate for years. This has been driven largely by the shift to the cloud, which is underpinning strong demand for its high quality software in the ANZ and UK markets. In addition to this, the company has made a number of bolt-on acquisitions that strengthen its offering and create cross- and up-selling opportunities. This leaves it well-placed to continue winning a share of its significant market opportunity over the next decade. Shaw & Partners is a fan of ELMO. It currently has a buy rating and $9.00 price target on its shares.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Altium and Elmo Software. The Motley Fool Australia owns shares of and has recommended Altium, BetaShares Asia Technology Tigers ETF, and Elmo Software. 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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