If you're a growth investor on the lookout for big returns, then you may want to check out the ASX shares named below.
Analysts have not only put buy ratings on these shares but are tipping them to rise 13% to 85% from current levels.
Here's what they are saying about these ASX growth shares:
Domino's Pizza Enterprises Ltd (ASX: DMP)
The first ASX growth share that could be a top option for investors right now is Domino's.
Analysts at Goldman see a lot of value in the struggling pizza chain operator's shares at current levels. Particularly given their belief that its earnings have now bottomed following a difficult period. They said:
We believe that DMP's renewed focus on store unit economics and re-investment to ignite topline growth is rightly placed. While there is still significant progress to be made, we believe that earnings has troughed in FY24 and see a path of improvement through FY25.
The broker has a buy rating and $40.00 price target on its shares. This suggests that upside of 13.5% is possible from current levels.
Megaport Ltd (ASX: MP1)
Another ASX growth share that could deliver market-beating returns according to Goldman Sachs is Megaport. It is a leading global provider of elastic interconnection services.
Megaport has been growing at a rapid rate in recent years thanks to the cloud computing boom. Goldman Sachs believes this can continue for the foreseeable future. It said:
Megaport considers itself the world's largest NaaS operator, and is benefiting from increasingly complex cloud environment and connectivity demands, while its product-led growth remains robust, supporting its positive net revenue retention and revenue tailwinds over the medium term.
Goldman has a buy rating and $12.00 price target on its shares. Based on its current share price, this implies potential upside of 60%+ for investors.
Tyro Payments Ltd (ASX: TYR)
Finally, over at Morgans, its analysts think that Tyro Payments could be an ASX growth share to buy.
The broker thinks that the market is undervaluing the payments provider's shares. Especially given its stronger than expected margins. Commenting after its recent results release, Morgans said:
While it remains a more difficult top line environment for TYR, this result demonstrated improved profitability through the benefits of TYR's pricing transformation program, and efficiency improvements. We increase our TYR FY25F/FY26F EPS by +15%-25% on improved EBITDA margin assumptions and lower D&A forecasts
The broker currently has an add rating and $1.63 price target on its shares. This suggests that upside of 85% is possible for investors from current levels.
