Looking for a growth share or two to buy? Three that could be worth considering are listed below.
All three have been growing strongly in recent years and look well-placed for more of the same during the 2020s. Here's what you need to know about these ASX growth shares:
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Bigtincan Holdings Ltd (ASX: BTH)
The first ASX growth share to look at is this sales enablement platform provider. Bigtincan was on form in FY 2021, delivering a 48% increase in annualised recurring revenue (ARR) to $53.1 million. The good news is that management expects more of the same in FY 2022. In fact, it expects to more than double its ARR to $119 million. This is expected to be driven by organic growth and the benefits of the acquisition of Brainshark. It is an industry-recognised and multi-awarded leader in its field of sales coaching, learning and readiness.
Morgan Stanley is very positive on the company. It has an overweight rating and $2.10 price target on its shares.
Life360 Inc (ASX: 360)
Another ASX growth share to consider is Life360. It is the growing technology company behind the Life360 family safety app. This increasingly popular app was being used by a whopping 33.8 million people globally at the end of the third quarter. This was up by 1.5 million users over the three months and underpinned a 48% year on year increase in Annualised Monthly Revenue (AMR) to US$120.1 million.
Bell Potter was pleased with its update. The broker responded by retaining its buy rating and lifting its price target on Life360's shares to $12.50.
ResMed Inc. (ASX: RMD)
A final growth share to consider is ResMed. It is a medical device company with a focus on the sleep treatment market. ResMed has been tipped to continue its strong growth over the long term thanks to its industry-leading products and massive market opportunity. In respect to the latter, management estimates that there are ~1 billion people impacted by sleep apnoea worldwide, with just ~20% already diagnosed.
Credit Suisse is a fan of ResMed and has an outperform rating and $43.00 price target on the company's shares.
