Are you interested in adding some more ASX shares to your portfolio this month?
Three ASX growth shares that could be in the buy zone are listed below. Here's why analysts are bullish on them:
Aristocrat Leisure Limited (ASX: ALL)
The first ASX growth share that could be in the buy zone is Aristocrat Leisure. This gaming technology company is one of the leaders in the industry and the owner of a world class portfolio of games. These include poker machines and digital games. At the last count, the latter had ~20 million monthly active users, which was generating significant recurring revenues. Another couple of positives are that Aristocrat is undertaking a major $500 million share buyback and looking to expand into the real money gaming market.
Citi is bullish on the company and has a buy rating and $40.20 price target on its shares.
Readytech Holdings Ltd (ASX: RDY)
Another ASX growth share that analysts are tipping as a buy is enterprise software provider Readytech. In August, Readytech released its full year results and revealed a 16.8% year over year increase in revenue to $78.3 million and a 45.5% jump in underlying EBITDA to $27.5 million. The good news is that its growth isn't expected to stop there. Management expects to build on this in FY 2023 with organic revenue growth in the mid-teens. This will be boosted by $2 million of incremental revenue from FY 2022 acquisitions.
Goldman Sachs is a fan of the company and has a buy rating and $4.30 price target on its shares.
Xero Limited (ASX: XRO)
A final ASX growth share that has been named as a buy for investors is Xero. It is a cloud accounting platform provider which has been growing at a consistently solid rate for a number of years. This led to the company reaching ~3.3 million subscribers globally earlier this year. Pleasingly, Xero's subs growth looks unlikely to end here. Management estimates that it has a global market opportunity of 45 million subscribers.
Goldman Sachs is also a big fan of Xero and has a buy rating and $111.00 price target on its shares.
