Here's why analysts are tipping these ASX growth shares as buys

Analysts say these growth shares are in the buy zone…

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Looking for some growth shares to buy this week? Then take a look at the three listed below that are rated as buys.

Here's what you need to know about these growth shares:

A smiling man points upwards with both fingers in an exaggerated sideways pose.

Image source: Getty Images

Aristocrat Leisure Limited (ASX: ALL)

The first ASX growth share to look at is Aristocrat Leisure. It owns a portfolio of popular world class poker machines and mobile games. In addition, management is planning an expansion into the potentially lucrative real money gaming market. Combined with its share buyback, this all bodes well for its earnings per share growth in the coming years.

Morgans is a fan of the company and has an add rating and $43.00 price target on its shares. The broker said: "It has delivered revenue growth of 17% pa over the past five years and 80% of revenue in FY21 was recurring. We expect ALL to continue to take market share in all its product segments."

Life360 Inc (ASX: 360)

Another ASX growth share that has been tipped as a buy is Life360. It is the company behind the popular Life360 app, which is the world's leading real time, location-sharing app used by families to stay safe and communicate. At the last count, there were over 30 million monthly active users on its platform.

Bell Potter is positive on Life360 and has a buy rating and $7.50 price target on its shares. It notes that the company "has the potential to leverage its large and growing user base to enter new markets and disrupt the legacy incumbents." This includes "insurance, item & pet tracking, senior monitoring, home security and/or identity theft."

Nitro Software Ltd (ASX: NTO)

Another ASX growth share that analysts rate highly is Nitro Software. It is a technology company that provides businesses of all size with integrated PDF productivity and eSignature tools via the Nitro Productivity Suite.

Goldman Sachs is very bullish on Nitro due to its strong growth potential. As a result, it currently sees "NTO as an attractive long-term growth opportunity at a discounted valuation." Goldman has a buy rating and $2.35 price target on the company's shares.

Motley Fool contributor James Mickleboro has positions in Life360, Inc. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Life360, Inc. The Motley Fool Australia has recommended Nitro Software Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Growth Shares

Three happy office workers cheer as they read about good financial news on a laptop.
Growth Shares

Are these the best ASX growth shares to buy and hold for 10 years?

Brokers rate these growth shares as buys in April. Here's what you need to know.

Read more »

A young man talks tech on his phone while looking at a laptop with a financial graph superimposed across the image.
Growth Shares

3 ASX growth shares to buy with $10,000

Looking to add some growth shares to your portfolio? Here are three that brokers rate as buys.

Read more »

Two smiling work colleagues discuss an investment at their office.
Growth Shares

3 ASX 300 shares that could be much bigger in 5 years

Big returns could be on offer from these shares according to analysts.

Read more »

Two brokers analysing the share price with the woman pointing at the screen and man talking on a phone.
Growth Shares

3 ASX shares tipped to grow 75% or more in the next 12 month!

These businesses may be significantly undervalued.

Read more »

A woman looks excited as she holds Australian dollars in the air.
Growth Shares

2 undervalued ASX shares to buy that experts think could deliver strong returns

A fund manager thinks these ASX shares could deliver great returns.

Read more »

A young man punches the air in delight as he reacts to great news on his mobile phone.
Growth Shares

5 ASX growth shares to buy and hold for 5 years

These shares could be destined for bright futures.

Read more »

A woman with a magnifying glass adjusts her glasses as she holds the glass to her computer screen and peers closely at it.
Growth Shares

3 ASX shares below $5 with huge potential

Some of the most interesting ASX shares are not the biggest, but those still early in their growth journey.

Read more »

A graphic of a pink rocket taking off above an increasing chart.
Growth Shares

This could be the best ASX 300 stock buy today!

This seems like a great time to invest.

Read more »