If you’re looking to add a few growth shares to your portfolio, then you’re in luck.
Right now, there are a large number of companies on the Australian share market that are growing their earnings at above-average rates.
Three top growth shares that I would buy today are listed below:
Appen Ltd (ASX: APX)
Appen is a leading developer of high-quality, human annotated datasets for the machine learning and artificial intelligence markets. As high-tech as these markets are, they still require large amounts of training data to build and improve their applications. Thanks to Appen having a +1 million on-demand global crowd that cover 130 countries and 180 languages and dialects, I believe it is well-positioned to benefit greatly from the rapidly growing demand for training data.
Audinate Group Limited (ASX: AD8)
Audinate is a provider of hardware and software solutions to the audio/visual (AV) market. Its key product is the flagship and award-winning Dante media networking solution. This product is the global leader in AV connectivity, eliminating the need for traditional analogue connections. It has been experiencing very strong demand for Dante, which led to it posting a 34% increase in revenue to US$20.3 million in FY 2019. Given the quality of its offering and its sizeable addressable market, I expect similarly strong growth in FY 2020.
CSL Limited (ASX: CSL)
Another top growth share to consider buying is CSL. I’m a big fan of this global biotherapeutics company and believe it is one of the highest quality companies on the ASX. This is due to the quality of its products, its talented management team, and its high level of investment in R&D. Furthermore, the increasing demand for its existing therapies, its expanding plasma collection network, and its pipeline of lucrative products look to have positioned it to continue growing its earnings at a solid rate for many years to come.
The post Why I would buy Appen and these ASX growth shares right now 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 AUDINATEGL FPO and CSL Ltd. The Motley Fool Australia owns shares of Appen Ltd. The Motley Fool Australia has recommended AUDINATEGL FPO. 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