Are you looking for high-growth ASX shares to take your portfolio to the next level?
If you are, then it could pay to hear what Bell Potter is saying about the two in this article.
These shares have been named on its Australian equities panel in November, which is home to ASX shares that it believes offer attractive risk-adjusted returns over the long term.
Two high-growth ASX shares that feature are as follows:
Life360 Inc. (ASX: 360)
There are few ASX shares growing as quickly as Life360 on the Australian share market.
Life360 is the location technology company behind the hugely popular Life360 app. At the last count, there were approximately 70 million monthly active users (MAU) across more than 150 countries using this app to keep their family safe. This is up significantly in just the last couple of years and shows no sign of slowing.
Pleasingly, Bell Potter believes that the company has significant earnings growth potential. This is thanks to the monetisation of its vast userbase. This includes from subscriptions and from its new advertising business. It commented:
Life360 operates a market-leading app that provides communication, driving safety, and location-sharing features. With over 70 million monthly active users and 2 million paying circles, the company has significant growth potential as it continues to rapidly monetise its customer base,
IPD Group Ltd (ASX: IPG)
Another high-growth ASX share that Bell Potter is bullish on is IPD Group.
It is a national distributor and service provider to the Australian electrical market. Its core focus in its products division is the sale of electrical infrastructure products to customers including switchboard manufacturers, electrical wholesalers, electrical contractors, power utilities, OEMs and system integrators.
In addition, it provides a range of value-added services such as custom assembly, sourcing, engineering design, technical compliance, procurement, transport, storage, regulatory management, technical support, packaging, labelling, inventory management and delivery.
Bell Potter believes the company is well-placed for growth in the coming years. This is thanks to upgrades to existing infrastructure, electric vehicle adoption, and the overall electrification megatrend. The broker commented:
IPD Group distributes electrical equipment and technologies that support energy efficiency in building, infrastructure, and process sectors. Demand for upgrades in existing infrastructure and the scaling of IPG's EV charging business should drive future revenue and market share expansion. The group is well-positioned to capitalise on electrification trends in energy and transportation to support earnings growth.
