Looking for growth shares to buy this month? Then you may want to consider the three listed below.
Here's why they have been tipped as growth shares to buy:
NEXTDC Ltd (ASX: NXT)
The first ASX growth share to look at is NEXTDC. It is a leading data centre operator benefiting greatly from the structural shift to the cloud. This shift has led to growing demand for data centre capacity over the last few years, which has resulted in strong revenue and operating earnings growth. And with this shift still ongoing, the future looks bright for NEXTDC. Particularly if its overseas expansion is a success.
UBS is positive on the company. It currently has a buy rating and $15.40 price target on its shares.
PointsBet Holdings Ltd (ASX: PBH)
Another ASX growth share to look at is this sports betting company. Its operations in the ANZ and US market are growing very quickly and generating significant revenue. Positively, the latter market is still in its infancy and only just opening up to this type of betting. This bodes well for the future given the size of the market. For example, Goldman Sachs expects the US sports betting market to grow at a compound annual growth rate of 40% out to 2033. At that point it believes it will be worth US$39 billion a year.
Goldman currently has a buy rating and $14.90 price target on its shares.
Zip Co Ltd (ASX: Z1P)
A final ASX growth share to look at is Zip. This buy now pay later (BNPL) provider has been growing at a strong rate over the last few years thanks to the increasing popularity of the payment method and its international expansion. The good news is the company still has a very long runway for growth. Management notes that the US market alone is worth $5 trillion.
Analysts at Citi currently have a buy rating and $14.90 price target on its shares.
