3 ASX 200 growth shares with room to run in FY26

Let's see why analysts think these shares are top picks for growth investors in the new financial year.

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A new financial year is on the horizon, so what better time to look at adding some quality ASX growth shares to your investment portfolio.

But which shares could be good options for Aussie investors in FY 2026? Let's take a look at three that analysts believe have plenty of room to run in the year ahead.

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Life360 Inc. (ASX: 360)

Life360 is a location technology company with almost 84 million monthly active users worldwide. Its popular app combines location sharing, driver reports, crash detection, and emergency response features into a single subscription service — and it is growing fast.

During the first quarter, it reported a 38% increase in annualised monthly revenue (AMR) to US$393 million. Adjusted EBITDA grew even quicker from US$4.3 million to US$15.9 million.

What gives Life360 its edge is its network effect: the more people that join a family circle, the stickier the platform becomes. With further monetisation potential across insurance, hardware, and international markets, FY 2026 could be another major year for growth.

Morgan Stanley is bullish. This week, the broker has put an overweight rating and $40.00 price target on its shares.

Pro Medicus Ltd (ASX: PME)

Another ASX 200 growth share that is rated highly is Pro Medicus. It has been one of the ASX's most consistent — and impressive — growth stories over the last decade.

The medical imaging technology company provides cloud-based radiology solutions to some of the world's leading hospitals and health networks, with a focus on speed, flexibility, and scalability.

Revenue and profit margins continue to impress, driven by a wave of long-term contract wins. And as hospitals modernise their systems, Pro Medicus' Visage platform is becoming a go-to solution.

Morgan Stanley is also bullish on Pro Medicus. It has an overweight rating and $310.00 price target on its shares.

Temple & Webster Group Ltd (ASX: TPW)

Finally, Temple & Webster could be an ASX 200 growth share to own in FY 2026. It is Australia's leading online furniture and homewares retailer, with a growing customer base and a lean, asset-light model.

What is most appealing about Temple & Webster is its structural position in a market that's still under-penetrated online. The company holds just ~2.9% of a $17 billion domestic market, leaving plenty of room to grow as ecommerce adoption continues.

Management is also expanding into new verticals, including renovation and trade, while investing in private-label products and AI-driven shopping experiences.

Once again, Morgan Stanley is feeling bullish about this one. This week, it put an overweight rating and $28.00 price target on its shares.

Motley Fool contributor James Mickleboro has positions in Life360, Pro Medicus, and Temple & Webster Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Life360 and Temple & Webster Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has recommended Pro Medicus and Temple & Webster Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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