These ASX shares could be top options for growth investors

Here are a couple of quality options for growth investors…

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If you’re a growth investor looking for some investment ideas for October, then the shares listed below could be worth considering.

Here’s what you need to know about these growth shares:

BetaShares Global Cybersecurity ETF (ASX: HACK)

Rather than buying a single growth share, investors could consider buying an exchange traded fund (ETF) filled to the brim with quality growth shares.

The BetaShares Global Cybersecurity ETF is home to a group of growing companies aiming to keep people and businesses safe online. This is becoming an increasingly important service, particularly given how cybercrime is on the rise and is expected to become even more prevalent in the future.

Among the companies that you’ll be owning a slice of are cybersecurity leaders including Accenture, Cisco, Cloudflare, Crowdstrike, Okta, and Zscaler.

The index the fund tracks has been a market beater over the last five years. During this time, it has generated an average return of 24.15% per annum.

Temple & Webster Group Ltd (ASX: TPW)

Another quality option to consider is Temple & Webster. Australia’s leading online furniture and homewares retailer could be a growth share to buy due to its strong long term potential.

In FY 2021, the company reported an 85% increase in revenue to $326.3 million and a 62% year on year increase in customer numbers to 778,000.

However, with online furniture shopping still in its infancy in comparison to other categories and Western markets, it looks well-positioned to grow its revenue materially over the 2020s. Especially given management’s investment in sales and marketing to cement its leadership position.

The team at Morgan Stanley are very positive on the company’s outlook. Its analysts currently have an overweight rating and $16.00 price target on its shares.

Should you invest $1,000 in Temple & Webster right now?

Before you consider Temple & Webster, you'll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Temple & Webster wasn't one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

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 BETA CYBER ETF UNITS and Temple & Webster Group Ltd. The Motley Fool Australia owns shares of and has recommended BETA CYBER ETF UNITS. 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.

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