If you have a penchant for ASX growth shares, then read on.
That's because listed below are five of the best to buy now according to analysts. Here's why they could be top buy and hold picks:
Aristocrat Leisure Ltd (ASX: ALL)
The first ASX growth share that could be a buy is Aristocrat. It is a global leader in gaming content and technology, with a strong presence in poker machines, digital gaming, and mobile games. The company has also successfully expanded into the lucrative online real money gaming segment, which opens up a substantial new growth opportunity.
Bell Potter is bullish on the company and has a buy rating and $79.00 price target on its shares.
Megaport Ltd (ASX: MP1)
Another ASX growth share to look at is Megaport. It is quietly transforming the way companies access cloud services. Its on-demand, software-defined networking platform allows businesses to connect quickly and securely to major cloud providers like AWS, Microsoft Azure, and Google Cloud.
The global shift to hybrid and multi-cloud environments plays directly into Megaport's strengths. With a recurring revenue model and expanding international footprint, the company has significant room to grow.
Morgans has an add rating and $15.50 price target on its shares.
NextDC Ltd (ASX: NXT)
As the demand for digital infrastructure continues to explode, NextDC is well positioned as Australia's leading independent data centre operator. It provides mission-critical colocation and connectivity services to enterprises and cloud providers.
The rise of artificial intelligence, cloud computing, and data-heavy applications has created a tailwind for NextDC's long-term growth. And with a robust pipeline of new developments and strong customer retention, the company appears well-positioned for strong growth over the next decade.
Morgans is also a big fan of NextDC. It has an add rating and $18.80 price target on its shares.
TechnologyOne Ltd (ASX: TNE)
TechnologyOne is one of Australia's most reliable and consistently performing tech companies. It provides enterprise software solutions to government, education, and other industries.
The company's transition to a pure SaaS model has improved margins and delivered sticky, recurring revenue. It boasts over a decade of uninterrupted profit growth and continues to deliver strong returns to shareholders.
UBS believes this trend can continue and has a buy rating and $42.20 price target on its shares.
WiseTech Global Ltd (ASX: WTC)
Finally, WiseTech would be an ASX growth share to buy and hold. It is the logistics technology powerhouse behind the CargoWise platform. It is used by many of the largest freight forwarders and logistics providers globally to streamline complex supply chain operations.
With global trade continuing to evolve and digitise, WiseTech is well-placed for growth over the long term.
Macquarie is bullish on the company's outlook and has put an outperform rating and $152.70 price target on its shares.
