Why I would buy Altium and these ASX growth shares this month

Altium Limited (ASX:ALU) and these ASX growth shares could be great options for growth investors this month…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

If you're a fan of investing in growth shares that have the potential to provide outsized returns, then you're in luck because the Australian share market is home to a large number of high quality ones to choose from.

Four that I think are worth considering this month are listed below:

Altium Limited (ASX: ALU)

One of my favourite growth shares is Altium. It is a printed circuit board (PCB) design software provider which looks set to profit greatly from the proliferation of the Internet of Things. This is because the majority of IoT devices have PCBs inside them, which is expected to lead to increasing demand for its award-winning software. In addition to this, the company's Octopart business has strong growth prospects and could support the core business.

Bravura Solutions Ltd (ASX: BVS)

Bravura is a leading provider of software and services to the wealth management and funds administration industries. I think it is attractively price given the positive outlook for the Sonata wealth management platform. Sonata has been growing at a very impressive rate over the last few years and looks well-placed to continue this thanks to the quality of the platform and its sizeable market opportunity.

Nearmap Ltd (ASX: NEA)

Another growth share that I would buy with a long-term view is Nearmap. It is a leading aerial imagery technology and location data company which has been growing at an exceptionally strong rate over the last few years. This continued in FY 2019 when the company reported record annualised contract value (ACV) of $90.2 million. This was a 36% increase year on year and was driven largely by further explosive growth in the United States. 

WiseTech Global Ltd (ASX: WTC)

WiseTech Global is the logistics solutions company behind the CargoWise One platform. This single-platform software solution has become a key part of the global supply chain. It provides an enterprise-class management system for logistics companies across 130 countries. I believe that its long term earnings growth potential more than justifies the premium that its shares trade at.

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 WiseTech Global. The Motley Fool Australia owns shares of and has recommended Bravura Solutions Ltd and Nearmap Ltd. The Motley Fool Australia owns shares of Altium. 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.

More on Growth Shares

Overjoyed man celebrating success with yes gesture after getting some good news on mobile.
Growth Shares

These ASX growth shares could rise 18% to 30%

Let's see which shares are being tipped to rocket.

Read more »

Ecstatic woman looking at her phone outside with her fist pumped.
Growth Shares

Goldman Sachs tips this ASX 200 growth stock to rise 35%

Let's see what the broker is saying about this growing company.

Read more »

Two players on a field pump their fists in the air, indicating two of the best
Growth Shares

The ultimate ASX growth shares to buy with $5,000

Brokers are very bullish on these names. But why? Let's find out.

Read more »

Australian dollar notes in the pocket of a man's jeans, symbolising dividends.
Growth Shares

Where to invest $1,000 into ASX shares in June

These shares could be buys according to analysts.

Read more »

Young female investor smiling and speaking on mobile phone while sitting in front of laptop
Growth Shares

Looking for ASX growth shares? I rate these 2 as top buys for June

I’m very excited about the growth potential of these stocks…

Read more »

Two smiling work colleagues discuss an investment or business plan at their office.
Growth Shares

3 high-conviction ASX growth shares to buy

Analysts have good things to say about these stocks.

Read more »

happy investor, share price rise, increase, up
Growth Shares

Where to invest $5,000 into ASX growth shares now

These shares could be destined for big things according to analysts.

Read more »

ETF spelt out with a piggybank.
ETFs

Want to buy ASX growth shares? Consider these ETFs instead

Growth ETFs can be easier to invest in than shares.

Read more »