Are you looking to add some ASX growth shares to your portfolio in July?
If you are, three growth shares that could be worth considering are listed below. Here's why analysts are tipping them as buys:
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Altium Limited (ASX: ALU)
The first ASX growth share that could be a buy is Altium. It is an industry-leading printed circuit board (PCB) design software platform provider. PCBs are found inside almost all electronic devices and are integral to their operation. And with the number of electronic devices increasing rapidly due to AI and the Internet of Things booms, management appears confident it can double its revenue to US$500 million by 2026.
Morgan Stanley is positive on the company and has an overweight rating and a $43.50 price target on its shares.
Webjet Limited (ASX: WEB)
Another ASX growth share that is rated as a buy is online travel booking company Webjet. Morgans is a fan of Webjet due to its belief that it exited the pandemic as a significantly stronger company. It notes that "WEB has clearly come out of COVID with a materially lower cost base, consolidated systems and a large business in the US. With plenty of market share still to win, we maintain an Add rating on this high quality growth stock."
Morgans has an add rating and price target of $8.97 on Webjet's shares.
Xero Limited (ASX: XRO)
A final ASX growth share that could be a top buy is Xero. It is a cloud-based accounting platform provider to small businesses globally. Although Xero is already generating significant recurring revenue from its 3 million-plus subscribers, it is still only scratching at the surface of its overall market opportunity. Goldman Sachs estimates that Xero has a total addressable market of 100 million subscribers, which gives it a huge growth runway over the next decade or two.
Goldman Sachs has a buy rating and a $130 price target on its shares.
