2 quality ASX growth shares tipped as buys

Here are two top growth shares to buy…

| More on:
share price rise

Image source: Getty Images

The Australian share market is home to a number of quality companies with solid growth prospects.

Two that have been tipped for robust long term growth are listed below. Here’s why analysts think investors should be buying their shares:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The first growth share to look at is this pizza chain operator. Domino’s has been a highly successful investment over the last 10 years, generating mouth-watering returns for investors.

This has been driven by its strong sales and earnings growth which was underpinned by its store expansion, its investment in technology, and the ongoing popularity of its offering.

The good news is that management isn’t resting on its laurels and continues to target further growth. In fact, the company is aiming to more than double its store footprint 6,650 stores by FY 2033. This compares to 2,949 stores at the end of FY 2021.

Goldman Sachs likes what it sees here and has put a buy rating and $147.00 price target on the company’s shares.

Symbio Holdings Limited (ASX: SYM)

Another ASX growth share that analysts are positive on is Symbio. It is the global communications network and software provider previously known as MNF Group.

Symbio’s communications network and software suite allows some of the world’s leading tech innovators to deliver new-generation communications solutions to their customers. This includes tech giants such as Google, Twilio, and Zoom.

Like Domino’s, it appears well-placed for growth over the long term. This is thanks to favourable tailwinds and its expansion across Asia. In addition, Symbio is sitting on a sizeable cash balance following the asset divestment which prompted the name change. This gives management opportunities to bolster its growth through acquisitions.

Ord Minnett currently has a buy rating and $7.90 price target on Symbio’s shares. Its analysts believe the compnay has a very bright outlook thanks to its large addressable market and strong competitive advantage.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

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 and has recommended Symbio Holdings Limited. The Motley Fool Australia owns and has recommended Symbio Holdings Limited. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Growth Shares

A hand hovers over a laptopn sparkling with tech symbols, indicating ASX technology shares
Growth Shares

2 beaten down ASX tech shares analysts say have major upside potential

These beaten down tech shares could be buys according to analysts...

Read more »

A woman sits at her computer with hand to mouth and a contemplative smile on her face although she is considering or thinking about information she is seeing on the screen.
Growth Shares

Why I think the EML share price is a long-term buy

Here's why I think EML shares are looking very good value for the long haul.

Read more »

A businessman holding a butterfly net looks around hoping to snare a good ASX share investment
Growth Shares

Why I would invest $10,000 into these ASX shares today

Here are two quality ASX shares that I would buy with $10,000...

Read more »

A woman faces the camera with her lip raised up to the side in total confusion.
Growth Shares

2 ASX-listed companies that are growing rapidly

These two ASX shares have dropped heavily, yet as companies they continue to grow.

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Growth Shares

Analysts rate these ASX growth shares as buys this month

These growth shares could be buys in May...

Read more »

Two brokers pointing and analysing a share price.
Growth Shares

The ASX 200 share this fund manager singles out amid rising interest rates

Companies that rely on the share market to fund their future growth could be facing some hurdles as interest rates…

Read more »

Three Archer Materials scientists wearing white coats and blue gloves dance together in their lab after making a discovery
Growth Shares

Why CSL shares are ‘going to deliver’ in 2022: fund manager

Quality growth companies can perform well even in an era of rising interest rates.

Read more »

A man activates an arrow shooting up into a cloud sign on his phone, indicating share price movement in ASX tech shares
Growth Shares

Why this fund manager is backing Xero shares for the rest of 2022

Rising interest rates have seen most growth stocks sell off this year.

Read more »