It certainly is a good time to be a growth investor. Right now, there are a large number of shares on the local market growing their earnings at a rapid rate.
Four top growth shares that I think are amongst the best on the market are listed below. Here’s why I would be a buyer of them:
a2 Milk Company Ltd (ASX: A2M)
Due to the increasing demand for a2 Milk Company’s infant formula products in the massive China market, it has been growing at a rapid rate in recent years. Pleasingly, demand remains robust and looks set to underpin further strong growth in the years to come. This should be complemented by the expansion of its fresh milk footprint in the United States.
Afterpay Ltd (ASX: APT)
Afterpay is a buy now pay later provider which has been growing at an explosive rate. This has been driven by the increasing popularity of its service with both consumers and merchants in the US, UK, and Australia. I believe Afterpay is only just getting started and expect more strong growth over the next decade. Especially if it expands deeper into Europe and then into other regions.
Altium Limited (ASX: ALU)
Thanks to the rapidly growing Internet of Things (IoT) market, I think this leading provider of printed circuit board (PCB) design software would be a great option for growth investors. This is because the majority of IoT devices have PCBs inside them. As the IoT market grows, I expect demand for its software to do so as well.
Pushpay Holdings Group Ltd (ASX: PPH)
Pushpay is a donor management platform provider for the faith, not-for-profit, and education sectors. It has carved out a big slice of the massive U.S. market in recent years and appears well-placed to continue growing its share over the 2020s. Especially given the recent US$87.5 million acquisition of church management system provider Church Community Builder. this acquisition has strengthened its offering significantly.
The post 4 rapidly growing ASX shares for growth investors to buy appeared first on Motley Fool Australia.
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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 AFTERPAY T FPO and PUSHPAY FPO NZX. The Motley Fool Australia owns shares of A2 Milk and Altium. The Motley Fool Australia has recommended PUSHPAY FPO NZX. 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. 2020