Are you interested in adding some ASX growth shares to your portfolio in September? If you are, you may want to look at the ones listed below that have recently been named as buys.
Here's what you need to know about them:
Breville Group Ltd (ASX: BRG)
The first ASX growth share to look at is Breville. It is the leading appliance manufacturer behind a number of popular brands. Breville was on form again in FY 2021 and recently reported a 24.7% increase in revenue to $1,187.7 million and a 39.6% jump in earnings before interest and tax (EBIT) to $136.4 million. The latter was ahead of management's upgraded EBIT guidance of $136 million.
In response to its results, UBS retained its buy rating and $35.70 price target on its shares. It appears confident its solid growth can continue for some time to come.
IDP Education Ltd (ASX: IEL)
Another ASX growth share to look at is IDP Education. It is a provider of international student placement services and English language testing services. For obvious reasons, the company's operations have been hit hard by the pandemic. However, its language testing business has been particularly resilient and appears exceptionally well-positioned for growth over the long term thanks to market share gains and acquisitions.
Goldman Sachs is very positive on the company's prospects. Last week it put a buy rating and $34.00 price target on its shares. Goldman is forecasting a compound annual growth rate (CAGR) of a 69% for its earnings over the next three years.
Nitro Software Ltd (ASX: NTO)
A final growth share to look at is Nitro Software. It is a software company that is aiming to drive digital transformation in organisations around the world. Its key solution is the Nitro Productivity Suite, which provides integrated PDF productivity and electronic signature tools to customers. Demand has been growing rapidly in recent years and has continued in FY 2021. For example, Nitro has just released its half year results and reported a 56% increase in annual recurring revenue (ARR) to $33.8 million.
Morgan Stanley was pleased with its half year results. In response, the broker retained overweight rating and $3.70 price target on Nitro's shares.
