Are you interested in adding some ASX growth shares to your portfolio this month? If you are, you may want to look at the ones listed below that have recently been named as buys.
Here's what you need to know about them:
Breville Group Ltd (ASX: BRG)
The first ASX growth share to look at is Breville. It is the leading appliance manufacturer behind the Sage, Kambrook, Baratza, and Breville brands. These brands have been resonating extremely well with consumers for many years, underpinning consistently solid sales and earnings growth. The good news is that this is expected to continue in the future thanks to favourable industry tailwinds, its continued investment in research and development, and its global expansion.
Morgans is a big fan of Breville and is confident on its growth outlook. The broker currently has an add rating and $34.00 price target on its shares.
Life360 Inc (ASX: 360)
Another ASX growth share to look at is Life360. This growing technology company is responsible for the eponymous Life360 mobile app. This market leading app is for families and offers useful features such as communications, driver safety, and location sharing. As of its last update, the company had grown its user base to 32 million. This is generating significant recurring revenue and opens the door to material cross selling and upselling opportunities.
Bell Potter is bullish the company's future. It currently has a buy rating and $10.75 price target on its shares.
Temple & Webster Group Ltd (ASX: TPW)
A final ASX growth share to look at is this online furniture and homewares retailer. It was a strong performer again in FY 2021 and revealed an 85% increase in revenue to $326.3 million and a 141% jump in EBITDA to $20.5 million. The good news is that Temple & Webster still has a long runway for growth over the next decade. For example, the company estimates that in 2020 just 7% to 9% of category sales were made online. This compares to 25.3% in the US in 2020.
Morgan Stanley has an overweight rating and $16.00 price target on Temple & Webster's shares.
