If you're a growth investor looking for some investment ideas for November, then the shares listed below could be worth considering.
Here's what you need to know about these growth shares:
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Appen Ltd (ASX: APX)
The first ASX growth share to look at is Appen. It is a leading developer of high-quality, human annotated datasets for machine learning and artificial intelligence (AI).
Through its team of over a million skilled contractors, Appen prepares or creates the data for the machine learning models of some of the largest tech companies. These include Amazon, Facebook, and Microsoft.
While COVID-19 has put a dampener on demand, a rebound is expected post-pandemic. So with the Appen share price down significantly from its highs, now could be an opportune time to consider an investment.
The team at Citi appear to believe this is the case. The broker currently has a buy rating and $17.10 price target on its shares. This is notably higher than where the Appen share price currently trades today.
Temple & Webster Group Ltd (ASX: TPW)
Another quality growth share to consider is Temple & Webster. It is Australia's leading online furniture and homewares retailer.
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. It then followed this up with a 56% increase in revenue during July 1 to 15 October.
Pleasingly, with online furniture shopping still in its infancy in comparison to other categories and Western markets, Temple & Webster looks well-positioned to grow its revenue materially over the 2020s. Particularly given management's investment in sales and marketing to cement its leadership position.
The team at Morgan Stanley is very positive on the company's outlook. The broker currently has an overweight rating and $16.00 price target on its shares.
