3 highly rated ASX growth shares to buy

Here are three highly rated growth shares…

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If you’re planning to add some growth shares to your portfolio, then you may want to look at the shares listed below.

All three of these ASX growth shares have been tipped as buys recently. 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 a collection of brands including Sage and the eponymous Breville brand. Over the last decade, the company has been growing at a solid rate. This has been driven by acquisitions, its international expansion, and its continued investment in research and development. The latter is ensuring that Breville has a strong and innovative product portfolio that resonates well with consumers.

Morgans is positive on the company’s long term growth outlook. As a result, its analysts currently have an add rating and $34.00 price target on its shares.

Life360 Inc (ASX: 360)

Another highly rated ASX growth share to look at is Life360. It is the growing technology company behind the Life360 mobile app. This is an app used by 32.3 million people each month (an increase of 28% year on year), offering features such as communications, driver safety, and location sharing. Life360 has also recently expanded into the wearables market, increasing its total addressable market and opening up cross selling opportunities. This and the further monetisation of its customer base looks set to underpin strong revenue growth in the coming years. As of Life360’s last update, the company’s annualised monthly revenue (AMR) was up 36% to US$105.9 million.

Bell Potter is fan of the company. It currently has a buy rating and $10.75 price target on Life360’s shares.

PointsBet Holdings Ltd (ASX: PBH)

A final growth share for investors to look at is PointsBet. It is a sports wagering operator and iGaming provider with operations in the ANZ, Canadian, and US markets. PointsBet offers innovative sports betting products and services via its scalable cloud-based platform. It has been growing at a rapid rate thanks to the increasing popularity of mobile sports betting and innovative new products.

Goldman Sachs currently has a buy rating and $14.75 price target on the company’s shares. It is positive on PointsBet’s long term growth prospects due to its massive US opportunity.

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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 Life360, Inc. and Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings 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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