If you're like me and have a penchant for ASX growth shares, then you might want to look at the three listed below.
That's because all three have recently been named as buys by analysts. Here's what you need to know about them:
Altium Limited (ASX: ALU)
Altium is the leading printed circuit board (PCB) design software provider behind the Altium Designer and Altium 365 platforms.
It has been growing at a strong rate for years and shows no signs of slowing. In fact, the company is aiming to more than double its revenue to US$500 million by 2026 and appears confident it will get there thanks to favourable industry tailwinds. These include AI and the IoT megatrends.
Analysts at Morgan Stanley believe it could be an ASX growth share to buy. They currently have an overweight rating and $43.50 price target on its shares.
Jumbo Interactive Ltd (ASX: JIN)
Morgans believes this online lottery ticket seller could be an ASX growth share to buy.
The broker likes the company due to its defensive qualities and the Powered by Jumbo software-as-a-service (SaaS) platform's global opportunity. It also expects recent price increases to be a big boost to its bottom line in FY 2024.
Morgans currently has an add rating and $16.90 price target on the company's shares.
Xero Limited (ASX: XRO)
Finally, this cloud accounting platform provider could be another ASX growth share to buy when the market reopens.
Citi is a big fan of the company and expects "Xero to deliver 3-year EBITDA CAGR >35%." This is expected to be underpinned by "revenue growth of ~19%" and the company's cost reduction plans.
The broker currently has a buy rating and $120 price target on Xero's shares.
