Are you interested in adding some ASX growth shares to your portfolio next month? If you are, you may want to look at the two listed below that have recently been named as buys by analysts.
Here's what you need to know about these ASX growth shares:
Nitro Software Ltd (ASX: NTO)
The first ASX growth share to look at is document productivity software company Nitro Software. It is the company behind the Nitro Productivity Suite. This product provides integrated PDF productivity and electronic signature tools to customers large and small and continues to grow in demand as the digital transformation accelerates.
Goldman Sachs is a very big fan of Nitro. This is due to its enormous growth potential over the long term. 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 $2.35 price target on Nitro's shares.
Webjet Limited (ASX: WEB)
Another growth share that could be in the buy zone in June is online travel agent, Webjet. After a couple of years of struggles because of the pandemic, a return to profitability is now on the horizon as travel booking volumes approach pre-COVID levels again.
Morgans has been pleased with the progress the company has made during the last two years and highlights that management "hasn't wasted a crisis."
It commented: "In our view, WEB hasn't wasted a crisis and will come out of COVID with a materially lower cost base, consolidated systems and a large business in the US."
In light of this, the broker recently retained its add rating on the company's shares with a $6.55 price target.
