2 ASX growth shares analysts rate as buys right now

Check out these top growth shares…

| More on:
A woman smiles as she sits on the bus using her phone and listening to music through headphones.

Image source: Getty Images

You鈥檙e reading a free article with opinions that may differ from The Motley Fool鈥檚 Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Are you looking to add a growth share or two to your portfolio? If you are, then the two listed below could be worth considering.

Here鈥檚 why these growth shares are rated as buys:

Appen Ltd聽(ASX: APX)

The first ASX growth share to look at is Appen. It is a developer of high-quality, human annotated datasets for artificial intelligence (AI) and machine learning models. It undertakes these activities through a team of over one million skilled contractors that collectively have expertise across countless languages.

While demand for its offering has softened during the pandemic, management appears confident it will rebound in the near future as major investments by tech giants in AI and machine learning resumes.

The team at Citi appear confident this will happen and remain bullish on its long term outlook. The broker currently has a buy rating and $18.80 price target on Appen鈥檚 shares

Temple & Webster Group Ltd聽(ASX: TPW)

Another ASX growth share to look at is Temple & Webster. It is Australia鈥檚 leading online retailer of furniture and homewares. The company runs a drop-shipping model which sees almost 200,000 different products sent directly to customers from suppliers. This is complemented by a growing private label range which is sourced directly by Temple & Webster from overseas suppliers.

This business model is working very well for the company. So much so, last month Temple & Webster released its full year results and revealed an 85% increase in revenue to $326.3 million and a 141% jump in EBITDA to $20.5 million.

Positively, the shift to online shopping is still only getting started in this category. This and its leadership position give the company a significant runway for growth over the next decade and beyond.

Morgan Stanley is positive on the company. It currently has an overweight rating and $16.00 price target on its shares.

Motley Fool contributor 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 has recommended Appen Ltd and Temple & Webster Group Ltd. The Motley Fool Australia owns shares of and has recommended Appen Ltd. The Motley Fool Australia has recommended Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on 鈴革笍 Growth Investing

share price gaining
鈴革笍 Growth Investing

2 stellar ASX growth shares rated as buys

Analysts think these ASX growth shares are in the buy zone...

Read more

3 asx shares to buy depicted by man holding up hand with 3 fingers up
鈴革笍 Growth Investing

3 excellent ASX growth shares named as buys

Analysts rate these ASX growth shares highly right now...

Read more

white arrows symbolising growth
鈴革笍 Growth Investing

2 growing ASX shares that analysts rate as buys

Looking for growth options? Here are two highly rated shares...

Read more

chart showing an increasing share price
鈴革笍 Growth Investing

2 excellent ASX growth shares named as buys

These growth shares could be in the buy zone...

Read more

rising asx share price represented by stack of coins with green shoots on top
Share Gainers

The Australian Ethical Investment (ASX:AEF) share price is up 124% this year!

Let's take a closer look.

Read more

A smiling woman holds a bunch of flowers, indicating growth
鈴革笍 Growth Investing

2 outstanding ASX growth shares named as buys

These growth shares could be in the buy zone...

Read more

Three young nerds dressed in suits with thinking caps and lightbulbs
鈴革笍 Growth Investing

3 excellent ASX share ideas for investors this week

Here are three top ASX share ideas...

Read more

a scientist researcher operates a computer with a graphic image of a brain in the foreground signifying artificial intelligence or AI.
鈴革笍 Growth Investing

Why Appen (ASX:APX) and this ASX growth share could be buys

These growth shares could be in the buy zone...

Read more