If you have room in your portfolio for some new portfolio additions, then it could be worth considering the three ASX growth shares listed below.
Here's what you need to know about these buy-rated ASX shares:
Altium Limited (ASX: ALU)
The first ASX growth share that could be a buy is Altium. It is an electronic design software provider aiming to dominate its market with its Altium Designer and Altium 365 platforms. The good news is that it is well on its way to achieving its goal. This even better news is that demand for this type of software is expected to grow strongly thanks to the AI and IoT megatrends.
Morgan Stanley is a fan of the company and currently has an overweight rating and $50.00 price target on its shares.
Macquarie Technology Group Ltd (ASX: MAQ)
Goldman Sachs thinks that Macquarie Technology could be an ASX growth share to buy. It is a leading cloud, data centre, cyber security, and telecommunications company. Its analysts like the company largely due to its growing data centre business. It expects Macquarie Technology to benefit from "a third wave of demand for data centre providers in Australia as GenAI workloads shift from LLM training (generally done offshore) to inference and enterprise use cases (in Australia)."
Goldman Sachs has a buy rating and a $77.70 price target on its shares.
WiseTech Global Ltd (ASX: WTC)
A final ASX growth share that could be a buy in November is WiseTech Global. It is the logistics solutions company behind the CargoWise One platform. It allows users to execute complex logistics transactions and manage freight operations from a single, easy to use platform. It has become incredibly important to the global logistics industry and is helping to deliver stellar recurring revenue growth for WiseTech.
Morgan Stanley is also bullish on WiseTech and has put a buy rating and $85.00 price target on its shares.
