Investors searching for growth shares, might want to look at three named below.
Here’s why analysts rate these ASX growth shares as buys right now:
Appen Ltd (ASX: APX)
The first growth share to look at is Appen. The shares of this leading developer of high-quality, human annotated datasets for machine learning and artificial intelligence (AI) have recently hit a multi-year low. This has been driven by concerns over softening demand for its services during the pandemic. While this is disappointing, one leading broker remains confident on the company’s future and expects demand to pick up. As a result, it appears to see this pullback as a buying opportunity for investors. That broker is Citi. It currently has a buy rating and $18.80 price target on the company’s shares.
Breville Group Ltd (ASX: BRG)
Another ASX growth share to look at is Breville. This leading appliance manufacturer has been growing at a strong rate over the last few years and continued this positive form in FY 2021. Last month the company revealed a significant lift in both sales and profits. This was driven by strong demand, recent acquisitions, its international expansion, and its continued investment in research and development. The latter ensures that Breville has a strong and innovative product portfolio. The team at Morgans appears confident that Breville’s growth can continue for the foreseeable future. As a result, its analysts currently have an add rating and $34.00 price target on its shares.
PointsBet Holdings Ltd (ASX: PBH)
A final growth share to look at is PointsBet. It is a sports wagering operator and iGaming provider with operations in the ANZ and US markets. PointsBet has been growing at a rapid rate over the last couple of years thanks to the popularity of its innovative sports betting products and services and the shift to mobile betting from stores. The latter has increased accessibility and opened the market up to other demographics. Goldman Sachs is expecting its strong growth to continue in the future. In light of this, the broker currently has a buy rating and $14.75 price target on its shares.