If you’re a fan of growth shares like I am, then you’re in luck. The Australian share market is home to a large number of shares that are growing their earnings at an above-average rate.
And with the market set to drop notably lower today, investors might be able to pick some of them up at a cheaper price. Three that I would buy today are listed below:
Appen Ltd (ASX: APX)
One of my favourite growth shares on the Australian share market is this global leader in the development of high-quality, human annotated datasets for machine learning and artificial intelligence (AI). Appen has been growing at an incredible rate over the last few years thanks to the accelerating AI market and the high and growing demand for quality training data. Pleasingly, the AI market is expected to continue growing at a very strong rate for at least the next decade, which I believe leaves Appen well-positioned to deliver above-average earnings growth for some time to come.
Bravura Solutions Ltd (ASX: BVS)
Another top growth share to consider buying is Bravura Solutions. It is a provider of software products and services to the wealth management and funds administration industries which has been growing at a strong rate in recent years. A key driver of this growth has been the increasing demand for its world class Sonata wealth management platform. I believe the company is well-placed to continue this positive trend for some time to come thanks to the quality of Sonata and its sizeable market opportunity. In addition to this, if the company can successfully acquire GBST Holdings Limited (ASX: GBT) then it could give its earnings an extra boost.
Webjet Limited (ASX: WEB)
A third and final growth share to consider buying is Webjet. The leading online travel agent has been one of the best growth shares on the market over the last decade, providing shareholders with an average total return of 29.5% per annum. Whilst its shares may not provide a return of that level over the next decade, I believe they could still be market beaters thanks to the strong growth potential of its WebBeds business.
And here is a small cap growth share not to be missed. It has been tipped to have a very bright future in a growing industry.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Bravura Solutions Ltd. The Motley Fool Australia owns shares of Appen Ltd. The Motley Fool Australia has recommended Bravura Solutions Ltd and Webjet Ltd. 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