If you have room for some new portfolio additions in FY 2024, then it could be worth considering the three ASX growth shares listed below.
Here's what you need to know about these buy-rated shares:
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Pilbara Minerals Ltd (ASX: PLS)
The first ASX growth share that could be a buy for FY 2024 is Pilbara Minerals. It is a lithium miner with a couple of high-quality assets including the world-class Pilgangoora Project. Although lithium prices have been getting weaker, Pilbara Minerals is still very profitable with prices at current levels. And thanks to this and its production expansion plans, analysts at Macquarie remain very positive and are forecasting big earnings and dividends in the future.
Macquarie has an outperform rating and a $7.70 price target on its shares.
Readytech Holdings Ltd (ASX: RDY)
Another ASX growth share that could be a buy for the new financial year is Readytech. It is a leading provider of mission-critical software-as-a-service (SaaS) solutions for the education, workforce management, government and justice sectors. Goldman Sachs is a big fan of Readytech and appears to see it as a hidden gem. Especially given its exposure to government software. It notes that this "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 a $4.40 price target on its shares.
Temple & Webster Group Ltd (ASX: TPW)
A final ASX growth share that could be a buy is Temple & Webster. It is Australia's leading online furniture and homewares retailer. The team at Goldman is also very bullish on the company. The broker believes Temple & Webster is well-positioned for long-term growth thanks to its strong position in a category that is still in the early stages of shifting online.
Goldman has a buy rating and a $6.40 price target on its shares.
