Are you interested in adding some ASX growth shares to your portfolio? If you are, you may want to look at the ones listed below.
Here's what you need to know about these growth shares:
Breville Group Ltd (ASX: BRG)
The first ASX growth share to look at is this leading appliance manufacturer. Its portfolio of brands have been resonating extremely well with consumers for many years thanks to the company's ongoing investment in research and development. Together with its global expansion and favourable industry tailwinds, Breville has been growing its sales and earnings at a consistently solid rate for many years. The good news is that analysts expect this trend to continue in the future, which could make recent weakness in the Breville share price a buying opportunity.
Morgan Stanley is a very positive on Breville. The broker currently has an overweight rating and $36.00 price target on its shares.
Hipages Group Holdings Ltd (ASX: HPG)
Another ASX growth share that has pulled back recently is Hipages. It is a leading Australian-based online platform and software as a service (SaaS) provider connecting consumers with trusted tradies. There are currently over 30,000 tradies using the platform, which is underpinning strong growth across all its key metrics. In addition, the company just announced the acquisition of New Zealand rival Builderscrack. This opens the door to 4,000 active tradies and a NZ$26 billion total addressable market.
Goldman Sachs is a big fan of Hipages and believes it has a huge market opportunity to grow into in the future. It currently has a buy rating and $4.60 price target on its shares.
Nitro Software Ltd (ASX: NTO)
A final ASX growth share to look at is Nitro Software. It is the document productivity company behind the Nitro Productivity Suite. This suite provides businesses of all sizes with integrated PDF productivity and electronic signature tools. Goldman Sachs initiated coverage on the company last week and is very positive on its future. It commented: "We estimate Nitro can increase its TAM penetration from 0.15% to 1.4% by FY40 implying 9x uplift to Nitro's current revenue base."
Goldman has a buy rating and $2.95 price target on its shares.
