3 ASX shares with strong growth potential

Appen Ltd (ASX:APX) and these ASX growth shares could be great options for investors next week. Here’s why…

| More on:
3 asx shares represented by investor holding up 3 fingers

Image source: Getty Images

Looking for a growth share or two to buy after the weekend break? Three that could be worth considering are listed below.

All three have been growing strongly in recent years and look well-placed for more of the same during the 2020s. Here’s what you need to know about these ASX growth shares:

Appen Ltd (ASX: APX)

The first growth share to look at is Appen. It is a leading developer of high-quality, human annotated datasets for machine learning (ML) and artificial intelligence (AI). It has been growing at a very impressive rate over the last few years. And while the pandemic has impacted demand and its growth, the future remains very bright. With AI and ML markets expected to continue their strong growth for many years to come, Appen appears well-placed over the next decade.


Another growth share to look at is NEXTDC. It is one of the Asia-Pacific region’s leading data centre operators. Due to strong demand for data centre capacity, which is being driven by the structural shift to the cloud, NEXTDC has been growing its sales and operating earnings at a solid rate. Positively, this is expected to continue as the shift to the cloud continues. It could also boost its growth further if its plan to expand into the Asian market is a success.

Pushpay Holdings Group Ltd (ASX: PPH)

A final growth share to look at is Pushpay. It is a fast-growing donor management platform provider for the faith sector. It has been growing at a rapid rate over the last few years and more of the same is expected over the 2020s. This is due to its target of winning a 50% share of the medium to large US church market. This is a US$1 billion opportunity and many multiples of its current revenue. Given the quality of its offering and favourable industry tailwinds, it looks well-placed to achieve this.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

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 recommends MEGAPORT FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Appen Ltd and PUSHPAY FPO NZX. The Motley Fool Australia has recommended MEGAPORT FPO and PUSHPAY FPO NZX. 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