I would buy these ASX shares after the market selloff

Altium Limited (ASX:ALU) and these ASX shares could be great options for investors after the market selloff this month…

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Whilst the market selloff this week has been very disappointing for investors, I believe it has dragged a number of top shares down to very attractive levels.

In light of this, when the market volatility subsides, I feel it would be worth considering an investment in these three ASX shares:

Altium Limited (ASX: ALU)

Based on its last close price, this printed circuit board (PCB) design software provider's shares are down 27% from their 52-week high. Altium's shares have fallen heavily this month due to the market volatility and the release of a reasonably soft half year update. Whilst this was disappointing, I believe it is just a short term headwind and investors ought to focus on its strong long term growth potential. Management continues to believe it is well-placed to deliver on its FY 2025 targets for revenue of US$500 million, market dominance, and 100,000 subscribers. This compares to FY 2020's guidance for the low end of its US$205 million to US$215 million range.

Pushpay Holdings Group Ltd (ASX: PPH)

As of yesterday's close, this payments company's shares were down almost 19% from their 52-week high. I believe this could be a buying opportunity for investors that are willing to make a long term investment. Pushpay is a fast-growing provider of a donor management platform to the faith, not-for-profit, and education sectors. It has been growing its share of the U.S. market at a rapid rate in recent years, leading to the strong recurring revenue growth. Pleasingly, I remain confident that more of the same is coming over the next few years. Especially after the recent acquisition of church management system provider Church Community Builder.

Webjet Limited (ASX: WEB)

The Webjet share price has been one of the worst performers on the ASX 200 in February. Based on yesterday's close, its shares are now down over 41% from their 52-week high. As one of the world's leading online travel companies, its shares have understandably been hit hard by coronavirus concerns. However, I think the market has oversold Webjet's shares and created a buying opportunity for patient investors. Whilst the coronavirus outbreak will weigh on its FY 2020 results, I'm confident its growth will accelerate again once the situation eases. Especially if some of its smaller rivals struggle to survive these tough trading conditions.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended PUSHPAY FPO NZX. The Motley Fool Australia owns shares of Altium. The Motley Fool Australia has recommended 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.

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