If you have a penchant for ASX growth stocks like I do, then you may want to look at the four that are listed below.
That is because they have all recently been named as buys by brokers and tipping to rise materially. Here's what you need to know about them:
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Life360 Inc (ASX: 360)
The first ASX growth stock that could be a buy is Life360. It is a rapidly growing location technology company. Bell Potter is a very big fan of Life360 and believes the company is well-placed to grow profitably as it monetises its huge user base. In addition, the broker has previously highlighted its belief that it has opportunities to disrupt other markets, as it has done with roadside assistance.
Bell Potter has a buy rating and a $16.25 price target on Life360's shares.
Objective Corporation Limited (ASX: OCL)
Another ASX growth stock that could be a buy is Objective Corp.
It is a growing software provider that supplies content, collaboration and process management solutions to public sector organisations. The team at Morgans is very positive on the company and is forecasting solid earnings growth through to at least FY 2026.
Morgans has an add rating and a $14.00 price target on Objective Corp's shares.
Webjet Limited (ASX: WEB)
A third ASX growth stock for investors to look at this week is online travel booking company Webjet.
The team at Morgans is also feeling very positive about this company's outlook. Particularly given its cost-cutting and huge growth opportunity in the United States. Its analysts have previously highlighted that "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 $10.33 on Webjet's shares.
Xero Limited (ASX: XRO)
A final ASX growth stock that could be a buy this week according to analysts is Xero.
It provides a highly regarded cloud-based platform for online accounting and business services to approximately 4 million small businesses across the globe. However, while this is a large number, it is still only a fraction of its estimated total addressable market.
For example, Goldman Sachs highlights that its analysts "see Xero as very well-placed to take advantage of the digitisation of SMBs globally, driven by compelling efficiency benefits and regulatory tailwinds, with >100mn SMBs worldwide representing a >NZ$100bn TAM."
The broker has a buy rating and a $152.00 price target on its shares.
