If you’re a fan of growth shares, then you may want to look closely at the two shares listed below.
Here’s why these could be growth shares to buy:
Altium Limited (ASX: ALU)
The first growth share for investors to consider buying is Altium. It is an electronic design software provider behind the Altium 365 and Altium Designer platforms. These platforms are the leaders in their field and aiming to dominate their market. A testament to their quality is that they are used by companies such as Tesla, BAE Systems, Amazon, Facebook, and Dell.
This is a great market to lead. With the Internet of Things (IoT) and AI markets underpinning an explosion of electronic devices globally, demand for electronic design software is expected to continue to grow at a strong rate for a long time to come. This bodes well for Altium’s growth in the future.
The team at Jefferies is very positive on Altium. It currently has a buy rating and $48.83 price target on the company’s shares. This compares to the latest Altium share price of $39.09.
Life360 Inc (ASX: 360)
Another ASX growth share that could be in the buy zone is app maker Life360.
It operates in the digital consumer subscription services market with a focus on products and services for digitally native families. This is with its hugely popular Life360 app and recent acquisitions of items tracking company Tile and wearables company Jiobit.
The team at Bell Potter is very positive on the company. This is due to its Life360’s freemium model and its massive opportunity to convert its 30m+ user base into paying subscribers. The latter is expected to be boosted by the aforementioned acquisitions and value added services such as roadside assist.
Overall, the broker believes the company is well placed to disrupt the safety and security market and achieve strong top line growth for many years. As a result, its analysts have a buy rating and $15.00 price target on its shares. This compares very favourably to the latest Life360 share price of $8.53.