When markets turn volatile, ASX growth stocks are often the first to come under pressure.
ASX growth stocks NextDC Ltd (ASX: NXT) and Mesoblast Ltd (ASX: MSB) lost big on Monday, falling 6.8% and 8% respectively. By comparison the S&P/ASX 200 Index (ASX: XJO) started the week with a descend of nearly 3%.
But short-term weakness doesn't necessarily change the long-term opportunity. In fact, market uncertainty can create attractive entry points for investors willing to take a longer-term view.
With that in mind, let's have a closer look at these 2 exciting ASX growth stocks.
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NextDC: riding the AI-trend
The $9 billion ASX share is riding one of the market's most powerful structural trends – artificial intelligence. Businesses are rapidly shifting to cloud platforms, deploying AI workloads, and demanding secure, scalable digital infrastructure.
NextDC sits right at the centre of that shift. The ASX growth stock is a leading data centre-as-a-service provider in the Asia-Pacific, supplying critical infrastructure to global cloud platforms, large enterprises, and government clients.
Demand for capacity is accelerating as the cloud transition and the AI boom gather pace. That trend underpins a long runway for earnings growth.
In its first half-year results for 2026, NextDC reported total revenue of $232 million, up 13% year-over-year. Customer demand for data centre capacity also continued to rise, 137% to almost 417 megawatts.
Heavy investment remains a core part of the strategy. The ASX growth stock is directing significant capital toward new facilities to expand its footprint and support growing customer demand.
Broker sentiment remains positive. Some analysts have set a maximum 12-month price target of $31.02, implying potential upside of about 142% from current levels.
The team at Morgans is more conservative but still bullish. The broker recently retained its buy rating on the ASX growth stock and a price target of $20.50, a potential plus of roughly 60% over 12 months.
Mesoblast: high-risk, high-reward biotech
This ASX growth stock offers a very different investment story. Mesoblast is a much higher-risk, potentially higher-reward biotech play.
Mesoblast is an Australian clinical-stage biotech developing and commercialising allogeneic cell therapies for complex diseases. Some treatments are already in use, while others are advancing through late-stage clinical trials.
The company has the potential for strong growth this year. Product adoption is increasing and the business is well funded to support its next phase of expansion.
Commercial momentum is also improving. The latest quarterly update showed US$30 million in net revenue, supported by rising demand for its therapy Ryoncil in the United States.
Even so, risks for the ASX growth stock remain substantial. Mesoblast has spent years funding clinical trials and has consumed significant capital along the way. The cell-therapy market is highly competitive, regulatory setbacks have previously delayed progress, and successful commercial execution is still crucial.
Despite those risks, brokers remain optimistic. According to TradingView data, all covering analysts currently rate the share a strong buy, with targets ranging from $3.21 to $4.92.
The average 12-month price target for the ASX growth stock sits around $4.05, implying potential upside of about 92%.
Analysts at Bell Potter Securities are also constructive. The broker believes the company is well positioned thanks to fresh debt funding and rising demand for Ryoncil, and it has placed a $4.45 price target on the stock. That suggests a possible gain of roughly 110%.
