Brokers say these explosive ASX growth shares are buys with massive upside

Big returns could be on the cards for owners of these shares.

Looking for some ASX growth shares to buy? If you are, then it could be worth considering the three listed below.

Both have been named as buys by brokers and tipped to rise strongly from current levels. Here's what you need to know about them:

A man sees some good news on his phone and gives a little cheer.

Image source: Getty Images

Life360 Inc (ASX: 360)

The first ASX growth share for investors to look at is Life360.

It is a Silicon Valley-based technology company with a focus on products and services for digitally native families.

The company's key product is the eponymous Life360 app, which has almost 60 million active users. It offers features such as communications, driver safety, and location sharing.

Goldman Sachs is a big fan of the company, noting that it is "exposed to a US$12bn global TAM with a large opportunity to expand its product suite, grow average revenue per paying circle (ARPPC), increase payer conversion, and lift penetration rates outside of the US."

The broker currently has a buy rating and $10.50 price target on its shares, which suggests potential upside of 42%.

Megaport Ltd (ASX: MP1)

Analysts at Macquarie still see material upside potential for this ASX growth share despite its recent gains.

The broker appears to believe that the stars are aligning for the leading global provider of elastic interconnection services and is tipping explosive earnings growth over the coming years.

It is for this reason that the broker reiterated its outperform rating on Megaport's shares at the end of last month with an improved price target of $15.50. This implies potential upside of 22% for investors.

TechnologyOne Ltd (ASX: TNE)

Another ASX growth share that Goldman Sachs is a big fan of is enterprise software provider TechnologyOne.

Goldman believes the company "is well placed to meet its A$500mn FY26 ARR target through a combination of SaaS flip uplift, net expansion and new customer growth." It expects this and margin expansion to "drive a mid-high teens EPS CAGR to FY26E."

Goldman has a buy rating and $18.05 price target on its shares. This would mean upside of 13% for investors.

Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Life360, Macquarie Group, Megaport, and Technology One. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Megaport and Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Growth Shares

Coins in ascending order from left to right, with a piggy bank and clock on the sides.
Growth Shares

2 top ASX shares to buy and hold for the next decade

These two investments have incredible long-term outlooks.

Read more »

Rocket going up above mountains, symbolising a record high.
Growth Shares

2 ASX shares tipped to grow 100% or more in the next 12 months

These two stocks could deliver massive returns.

Read more »

Smiling woman pointing at rising graph.
Growth Shares

2 strong Australian stocks to buy now with $9,000

These stocks look like top buys to me right now.

Read more »

Wooden house and golden coins on balancing scale.
Growth Shares

Is the REA Group share price a strong contrarian buy?

Is this a good time to invest in the property portal business?

Read more »

Ascending piles of coins and plants in three jars, with a hand putting a coin in the first jar.
Growth Shares

A rare buying opportunity in 1 of Australia's top shares?

This stock is an ASX leader and it looks like one of Australia’s top shares.

Read more »

Two smiling colleagues looking at a tablet in a data centre.
Growth Shares

Will Goodman shares reach $30 in 2027?

I look at the earnings forecasts to see how realistic a move back to this level could be.

Read more »

Two brokers analysing the share price with the woman pointing at the screen and man talking on a phone.
Growth Shares

2 ASX shares highly recommended to buy: Experts

These businesses could be undervalued and deliver good returns.

Read more »

Woman pointing to a hologram of a world map with finance graphs and related themes.
Growth Shares

Down over 50%: 2 ASX shares to buy for global growth

Both companies are building global momentum. Patient investors should watch.

Read more »