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.
NEXTDC Ltd (ASX: NXT)
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.