There are plenty of ASX growth shares to choose from on the Australian share market. But three that could be standout picks are named below.
Here's why brokers are raving about them:
Altium Limited (ASX: ALU)
Altium could be an ASX growth share to buy according to Morgan Stanley. It is an electronic design software provider aiming to dominate its market. This is a great market to lead given how demand for this type of specialist software is expected to increase strongly in the future thanks to the AI and IoT megatrends.
Morgan Stanley has an overweight rating and a $50 price target on its shares.
TechnologyOne Ltd (ASX: TNE)
Another ASX growth share that has been tipped as a buy is Technology One. It is a leading SaaS ERP solutions provider. Its software transforms the way organisations interact with customers and communities, providing access from any device, anywhere, at any time.
Goldman Sachs believes the company can grow its profits by at least 15% per annum through to FY 2025. It is for this reason that the broker has a buy rating and a $18.30 price target on its shares.
WiseTech Global Ltd (ASX: WTC)
The team at Morgan Stanley also thinks that WiseTech Global could be an ASX growth share to buy. It is the logistics solutions company behind the CargoWise One platform, which over the last decade has become integral to the global logistics industry. Strong demand means WiseTech has been growing at a strong rate in recent years and the broker believes this can continue for at least another five years.
Morgan Stanley overweight rating and an $85 price target on its shares.