Are you interested in adding some ASX growth shares to your portfolio this month? If you are, you may want to look at the two listed below that have recently been named as buys.
Here's what you need to know about these ASX shares:
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.
Thanks partly to its investment in product development, Breville's brands have been resonating extremely well with consumers for many years. This has been underpinning solid sales, earnings, and dividend growth.
Positively, this solid form looks set to continue due to the strength of its product portfolio, favourable trading conditions, and its ongoing global expansion.
Morgans is a big fan of Breville. The broker currently has an add rating and $34.00 price target on its shares.
Life360 Inc (ASX: 360)
Another quality ASX growth share to look at is Life360. It is the growing technology company behind the Life360 mobile app. This market leading app is for families and offers useful features such as communications, driver safety, and location sharing.
The popularity of the app continues to increase, with Life360 adding a further 1.5 million monthly active users (MAU) during the third quarter. This brought the total MAU to 33.8 million and underpinned a 48% year on year increase in Annualised Monthly Revenue (AMR) to US$120.1 million (excluding acquisitions).
Speaking of acquisitions, Life360 recently acquired wearables company Jiobit for up to US$54.5 million. Jiobit's solution combines a discreet wearable called the Jiobit Location Monitor, with mobile-based software services, combined with patented location technology. This provides location monitoring and smart notification services for younger children, pets, seniors, and any loved one prone to wander. Management expects the acquisition of Jiobit to allow Life360 to tap into two fast growing markets: the multi-billion pet supplies and services and elder care markets.
The team at Bell Potter is very positive on Life360. This week the broker retained its buy rating and lifted its price target to $14.75.
