Are you on the lookout for growth shares to buy? Then you may want to look at the ones listed below.
Here’s why analysts rate these three ASX growth shares highly:
Breville Group Ltd (ASX: BRG)
The first ASX growth share to look at is Breville. This leading appliance manufacturer has been tipped to continue its strong sales and profit growth over the coming years. This is thanks to strong demand, favourable industry tailwinds, international expansion, and its ongoing R&D investment. The latter is ensuring that the company has a portfolio of products meeting the needs of consumers across the world.
UBS is very positive on the company. It is forecasting double-digit sales growth through to at least FY 2023. In light of this, the broker has a buy rating and $35.70 price target on its shares.
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. It has been tipped to bounce back strongly following the pandemic. Particularly given its increasingly popular software offering, strengthening market position, and a key acquisition in India.
Goldman Sachs remains very positive on the company’s prospects. It recently put a buy rating and $34.00 price target on its shares. The broker is forecasting a compound annual growth rate (CAGR) of a 69% for its earnings over the next three years.
Life360 Inc (ASX: 360)
A final ASX growth share for investors to look at is Life360. It is the growing technology company behind the popular Life360 mobile app. This market leading app for families offers features such as communications, driver safety, and location sharing. At the last count there were over 32 million users globally, up 28% year on year.
Life360 has also recently expanded into the wearables market via the acquisition of Jiobit. This increases its total addressable market and opens up cross selling opportunities.
Bell Potter believes the company is well-placed for growth. It currently has a buy rating and $10.75 price target on Life360’s shares.