There are plenty of ASX growth shares to choose from on the Australian share market. But which ones could be buys this month?
Three growth shares that analysts are tipping as buys are listed below. Here's what you need to know:
Altium Limited (ASX: ALU)
The first ASX growth share that could be a buy is printed circuit board (PCB) design software platform provider Altium. It has been growing at a rapid rate for many years and management appears positive this strong form can continue. In fact, thanks to the artificial intelligence and Internet of Things booms, it is aiming to 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.
Life360 Inc (ASX: 360)
Another ASX growth share that has been tipped as a buy is location technology company Life360. Bell Potter is a fan of Life360. This is due to the company's positive long-term outlook. It notes that its overall outlook "is positive with recent price rises in the core business driving strong top-line growth and the recently commenced bundling of Tile products with subscriptions to provide a further boost to subscription revenue."
Bell Potter has a buy rating and a $9 price target on Life360's shares.
Webjet Limited (ASX: WEB)
A final ASX growth share that could be a buy is online travel booking company Webjet. The team at Morgans is positive on the company and its outlook. Particularly given how hard management has worked at cutting costs since the pandemic. 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.
