With August approaching, now could be a good a time as ever for investors to start looking at making some new additions to their portfolios.
But which shares could be buys for growth investors with $3,000 to put to work in the market?
Let's take a look at three exciting Australian growth shares that analysts think are in the buy zone right now:
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Lovisa Holdings Ltd (ASX: LOV)
The first Australian growth share that could be a top buy is Lovisa. It has been one of the standout performers on the ASX in recent years thanks to its fast-fashion jewellery business model and rapid global store rollout. Its formula is simple but powerful: a constantly refreshed product range at affordable price points.
With hundreds of new store openings planned over the next few years and entry into new markets still on the horizon, Lovisa could continue to deliver double-digit earnings growth, supported by its scalable model and rising brand recognition worldwide.
Morgans is a fan of the company and has an add rating and $35.00 price target on its shares.
ResMed Inc. (ASX: RMD)
Another Australian growth share that could be a top buy with the $3,000 is ResMed. It is a global leader in sleep apnoea and respiratory care devices.
The company benefits from a duopoly position in its core markets, a growing awareness of sleep disorders, and rising global diagnosis rates. And given its significant (and ongoing) investment in research and development, which supports a world class hardware and software portfolio, ResMed is well-positioned to continue compounding over the next decade.
Ord Minnett is bullish on the company. Its analysts "expects that solid operating leverage to be maintained, or even slightly increased, driven by a further widening in gross margin, discipline on selling, general and administration expenses, and greater production efficiencies.
As a result, they believe that "ResMed is in a strong position for continued growth in earnings, noting we forecast EPS growth of 14% in FY26, while the company's balance sheet can accommodate an increase in its share buyback program."
Ord Minnett has a buy rating and $46.50 price target on its shares.
Temple & Webster Group Ltd (ASX: TPW)
Finally, Temple & Webster could be an Australian growth share to buy. It is a leading online furniture and homewares retailer.
This is an area of the retail market that continues to gain traction as consumers shift away from traditional brick-and-mortar stores.
With a relatively small share of an estimated $30 billion+ local furniture, home improvements, and homewares market, Temple & Webster still has a long runway for expansion. And as the structural shift toward online retail accelerates, it looks likely to benefit greatly.
Morgan Stanley is bullish on its outlook and has an overweight rating and $28.00 price target on its shares.
