If you are a growth investor with $500 to invest, then you may want to check out the ASX growth shares named below.
That's because analysts are feeling very positive about these shares and have recently put a buy rating on them.
Here's what they are saying about these growth shares:
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Domino's Pizza Enterprises Ltd (ASX: DMP)
While its growth may have been lacking in recent times, the team at Goldman Sachs believes that now could be the time to snap up this pizza chain operator's shares.
The broker sees a lot of value in its shares at current levels. Particularly given its belief that Domino's earnings are now bottoming following a difficult period. It 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 $39.10 price target on its shares.
Life360 Inc (ASX: 360)
Goldman Sachs also believes that Life360 could be an ASX growth share to buy with your $500.
It is the location technology company behind the hugely popular Life360 app. At the last count, there were over 70 million monthly active users (MAU) across more than 150 countries using this app to keep their family safe.
Goldman likes the company due to its belief that it is still only in the early stages of its growth. It said:
We believe Life360 remains in the early stages of its multi-year revenue growth opportunity, with subscription growth momentum continuing at scale in the US and internationally, as well as a new high-margin revenue stream in advertising.
Goldman has a buy rating and $25.00 price target on Life360's shares.
Readytech Holdings Ltd (ASX: RDY)
Finally, Morgans thinks that Readytech could be a good option for your $500.
It is a leading software as a service (SaaS) provider of mission critical software to the tertiary education, government, justice, and enterprise markets.
Commenting on the ASX growth share, the broker said:
RDY's recent organic growth trajectory demonstrates its ability to deliver our forecast 14.5% CAGR EBITDA growth over coming years. Despite this, the company is trading at a ~20% discount to its historic average EBITDA multiple of ~11x, which we believe represents compelling value.
Morgans has an add rating and $3.74 price target on its shares.
