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3 explosive ASX growth shares to buy in November

James Mickleboro
Man holding tablet with sharemarket chart showing growth shares

If you’re a fan of ASX growth shares like I am, then you’re in luck.

Right now there are a large number of high quality options on the local share market.

Three top ASX growth shares I would buy in November are listed below. Here’s why I like them:

Aristocrat Leisure Limited (ASX: ALL)

One of my favourite growth shares on the local market is Aristocrat Leisure. I’m a big fan of the gaming technology company due to the quality of its core business and the strong growth potential of its digital business. In the first half, the latter business had a massive 8 million daily active users generating significant recurring revenues. Due to new releases and the growing popularity of social and mobile gaming, I expect similarly strong recurring revenues in the second half and beyond. This should drive strong profit growth over the medium term.

REA Group Limited (ASX: REA)

REA Group is another of my favourite growth shares. I was very impressed with its performance and the way it still achieved strong profit growth during the property downturn. So, with the housing market showing signs that it is rebounding, the property listings company could soon experience a sharp rise in listings volumes. Combined with price increases and its new revenue streams, I’m confident the company is positioned to deliver strong earnings growth for some time to come.

Xero Limited (ASX: XRO)

Another growth share to consider buying is Xero. It is one of the world’s leading business and accounting software providers. Due to the quality and stickiness of its software, its strong pricing power, and massive global market opportunity, I believe it is well-placed for above-average growth over the long term. Later next week Xero is due to release its half year results. Whilst I’m confident that it will be another stellar half, it might be prudent to wait for the release before picking up shares.

The post 3 explosive ASX growth shares to buy in November appeared first on Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Xero. The Motley Fool Australia has recommended REA Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019