Investors looking for ASX growth shares to buy might want to look at the three listed below.
These shares have been named as buys and tipped to climb meaningfully from current levels by analysts at Goldman Sachs. Here's what you need to know:
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Life360 Inc (ASX: 360)
Goldman Sachs is a fan of this location technology company. The broker believes Life360 is on the verge of becoming very profitable, which it feels the market is overlooking. As a result, it sees a lot of value in its shares at the current level. It highlights that "the company is well capitalised, will be cash flow positive from 2Q23, and stands to generate significant earnings growth in coming years; all of which look underappreciated by the market as implied by the current share price."
Goldman has a buy rating and $7.90 price target on its shares.
Readytech Holdings Ltd (ASX: RDY)
Another ASX growth share that Goldman Sachs is bullish on is Readytech. It is a leading provider of mission-critical software-as-a-service (SaaS) solutions for the education, employment services, workforce management, government and justice sectors. Goldman highlights its attractive valuation and exposure to government software. It notes that the latter "has been a pocket of strength and resilience" and expects it to help "deliver mid-teens organic growth at an expanding profit margin through the cycle."
Goldman has a buy rating and $4.40 price target on its shares.
REA Group Limited (ASX: REA)
A final ASX growth share to look at is REA Group. It is the leading player in online real estate listings in the Australian market with its realestate.com.au website. This is the dominant force in Australia, with the company reporting that 12.1 million people visited its website each month on average during the first half of FY 2023. This is 55% of Australia's adult population. Furthermore, its average monthly visits of 117.6 million was 3.3 times greater than its nearest competitor.
Goldman Sachs has a buy rating and $164.00 price target on its shares.
