With such a large number of quality growth shares to choose from on the Australian share market, it can be hard to decide which ones to buy.
To help narrow things down for you, I thought I would pick out three growth shares which I believe are trading at great prices for long term investments. They are as follows:
Bravura Solutions Ltd (ASX: BVS)
One of my favourite tech shares right now is Bravura Solutions. It provides software products and services to clients operating in the wealth management and funds administration industries. It has been growing at an impressive rate over the last couple of years thanks largely to its Sonata wealth management. This popular platform allows its users to connect and engage with their clients anytime, anywhere, via computers, tablets or smartphones. Sonata revenue increased 32% to $122.5 million in FY 2018, which means it now represents 55% of the company's total revenue. Due to the quality of the product and its sizeable market opportunity, I expect it to continue to underpin the company's growth for some time to come.
Megaport Ltd (ASX: MP1)
A small cap and higher risk option for investors to look at is this provider of elastic interconnection services across data centres globally. Megaport's service allows its users to increase and decrease their available bandwidth in response to their own demand requirements. This means that its users don't need to be tied to fixed service levels on long-term and expensive contracts and can just use what they need when they need it. Demand has been growing strongly for the company's services, leading to it posting a 72% increase in revenue and a 70% lift in monthly recurring revenue (MRR) in the first half of FY 2019.
Webjet Limited (ASX: WEB)
Although it might be best to wait for the release of its half year results later this week before picking up shares, I remain confident that this online travel agent would be a great buy and hold investment. Webjet has delivered exceptionally strong over the last decade due to the growing popularity of its numerous travel booking brands. The good news is that management is confident that that its brands can continue to outperform the rest of the travel market. Over the next three years it is targeting booking growth 3x the underlying market growth rate for its B2C business and 5x the underlying market growth rate for its B2B business.
