3 ASX growth shares that could be future giants

Let's see why these buy-rated shares could be significantly larger in 10 years.

Key points
  • Life360 is expanding beyond its roots as a tracking app into a robust subscription platform with a vast addressable market, promising significant growth potential by monetising both premium features and its vast untapped user base, backed by Bell Potter's buy rating.
  • Positioned at the heart of the digital infrastructure surge, NextDC is capitalising on increasing data demands from AI and cloud computing, with a strong data centre presence and stable, long-term contracts, earning a buy rating from UBS as it rides this megatrend.
  • As Australia's top online furniture retailer, Temple & Webster is gaining market share despite retail challenges, set to benefit from the shift to online shopping, with Morgan Stanley's overweight rating reflecting confidence in its multi-year growth trajectory.

For investors focused on the long-term, there are a handful of ASX growth shares today that have the potential to become significantly larger businesses by 2035.

But which ones could be buys today?

Here are three that analysts think stand out as future giants in the making:

A young boy sits on his father's shoulders as they flex their muscles at sunrise on a beach

Image source: Getty Images

Life360 Inc. (ASX: 360)

Life360 has transformed from a family-tracking app into a high-growth global subscription platform. Its growth metrics remain exceptional: paying circles are rising sharply, monthly active users continue climbing past 90 million, and the company is generating growing profitability alongside strong operating cash flow.

What makes Life360 particularly compelling is its enormous addressable market. The company's platform naturally lends itself to premium features such as safety tools, roadside assistance, data services, and partnerships. And with less than a fraction of its global user base currently monetised, the runway ahead is long. It is also only at the beginning of monetising its free users through its new advertising business.

Bell Potter is bullish on the company's outlook. So much so, it recently put a buy rating and $52.50 price target on its shares.

NextDC Ltd (ASX: NXT)

Another ASX growth share that could be destined for big things is NextDC.

It is a leading data centre operator that is building the infrastructure powering Australia's digital economy. Demand for cloud computing, AI, data processing and storage is surging, and NextDC sits at the centre of it.

The company continues to expand its high-capacity data centre footprint across major Australian cities, while securing long-term contracts with hyperscale cloud providers and enterprise customers. This gives NextDC recurring, inflation-linked revenue, strong retention rates and visibility well into future years.

Data usage isn't slowing. If anything, AI models, automation and high-bandwidth applications are accelerating the need for secure, energy-efficient data storage. Few ASX businesses are as well-positioned for this infrastructure megatrend as NextDC.

UBS is a fan of NextDC and has a buy rating and $21.45 price target on its shares.

Temple & Webster Group Ltd (ASX: TPW)

Finally, Temple & Webster has quietly become Australia's leading online furniture and homewares retailer. While the broader retail sector has faced pressure from cautious consumer spending, Temple & Webster continues taking market share thanks to its digital-first model, growing private-label range and efficient logistics network.

In Australia, online furniture penetration lags behind that in the US and Europe. This gives Temple & Webster a multi-year growth opportunity as more consumers shift to online shopping for big-ticket items. In light of this, the company could be many times larger in 2035 than it is today.

Last week, Morgan Stanley put an overweight rating and $28.00 price target on its shares.

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

More on ASX Share Market News

Sad man sitting at desk and grabbing his head as he looks at a laptop.
ASX Share Market News

These are the 10 most shorted ASX shares

Short sellers are targeting these shares this week. Let's find out why.

Read more »

Woman looking at her computer and pondering something.
ASX Share Market News

5 things to watch on the ASX 200 on Monday

Will the market start the week strongly? Here's what you need to know.

Read more »

a man in a business suite throws his arms open wide above his head and raises his face with his mouth open in celebration in front of a background of an illuminated board tracking stock market movements.
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

A geeky-looking young man with glasses bites down onto a computer keyboard in frustration or despair.
ASX Share Market News

Tech shares led the ASX 200 amid NVIDIA scandal and Microsoft outage last week

Xero's 1H FY27 results and a strong lead from Wall Street pushed the tech sector higher.

Read more »

Piles of increasing coins alongside an hourglass.
Opinions

Why I'm planning to buy more Soul Patts shares in 2027

I think Soul Patts is a great long-term buy.

Read more »

a close up of a woman's face looks skywards as she is showered in a sea of graphic symbols of gold and silver coins bearing the bitcoin logo.
Cryptocurrencies

Are you a 'greater fool' for owning Bitcoin?

Is Bitcoin truly an investment?

Read more »

IPO written in purple on blocks on top of each other in the air.
IPOs

Anthropic IPO: Are 5 types of shares too many?

Anthropic is going for a very unusual setup.

Read more »

Two male ASX investors and executives wearing dark coloured suits sit at a table holding their mobile phones discussing the highest trading ASX 200 shares today
Broker Notes

Buy, hold, sell: Resmed, Goodman Group, CBA shares

We review three fresh buy, hold, and sell calls from John Athanasiou at Red Leaf Securities.

Read more »