Are you interested in adding some more ASX shares to your portfolio?
Two ASX 200 growth shares that could be worth considering are listed below. Here's what you need to know about them:
Altium Limited (ASX: ALU)
The first ASX 200 growth share to look at is Altium. It is an industry-leading printed circuit board (PCB) design provider. PCBs are the intricate and integral boards you find inside electronic devices.
Thanks to the company's leadership position in a market benefiting from the internet of things (IoT) and artificial intelligence trends and its shift to a software-as-a-service (SaaS) focus, Altium believes it can grow materially in the coming years.
So much so, the company has set itself the bold growth target of more than doubling its revenue to US$500 million by 2026.
Bell Potter appears optimistic that Altium can deliver on its targets. As such, it has put a buy rating and $34.00 price target on its shares. Based on the current Altium share price of $27.26, this implies potential upside of 25% for investors.
TechnologyOne Ltd (ASX: TNE)
Another ASX 200 growth share that could be in the buy zone right now is enterprise software provider TechnologyOne.
It is currently following Altium's lead by transitioning to become a SaaS focused business. And like Altium, this transition is going very well.
Pleasingly, management expects this trend to continue. So much so, it is aiming to almost double its annual recurring revenue (ARR) to $500 million by FY 2026.
The team at Goldman Sachs is very positive on Technology One and has been pleased with its SaaS transition. The broker currently has a buy rating and $13.30 price target on its shares. Based on the current TechnologyOne share price of $10.86, this suggests potential upside of 22% for investors.
