Are you looking to add some growth shares to your portfolio when the market reopens next week?
If you are, the ASX growth shares listed below could be worth considering. Here's why analysts are bullish on these shares:
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Altium Limited (ASX: ALU)
The first ASX growth share that has been named as a buy is Altium. It is the printed circuit board (PCB) design software provider behind the world class Altium Designer platform. Thanks to its dominant position in an industry growing due to the explosive artificial intelligence and internet of things markets, management is very confident in its growth outlook. In fact, the company is aiming to more than double its revenue to US$500 million by 2026.
Jefferies is positive on the company and currently has a buy rating and $38.13 price target on its shares.
Life360 Inc (ASX: 360)
A second ASX growth share that has been tipped as a buy is Life360. It is the location technology company behind the eponymous Life360 mobile app. This hugely popular freemium app had over 40 million active users at the last count. It also has a growing number of paid subscribers, who have just been hit with prices increases. While this is expected to lead to some level of churn, management revealed strong results from a recent trial of price increases. The company has also made a couple of key acquisitions that open the door to significant cross-selling opportunities.
Bell Potter was pleased with the price increase news and believes Life360 will now be profitable a year earlier than previously expected. This certainly is good news in the current environment where investors have an aversion to loss-making tech companies. Bell Potter currently has a buy rating and $9.25 price target on its shares.
