Double your money with these high quality ASX shares

Here's why I think you could double your money with Altium Limited (ASX:ALU) and these ASX growth shares…

| More on:
Money

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 are looking for market-beating returns over the next decade, then the three growth shares listed below could be the ones to buy.

I think their strong growth prospects means that investors could at least double their money with them over the next 10 years.

Here's why I would buy them:

Altium Limited (ASX: ALU)

I think Altium has the potential to deliver very strong returns for investors over the next decade. This is due to its high quality electronic design software, its massive market opportunity, and its exposure to the rapidly growing Internet of Things (IoT) market. This year Altium expects to achieve 50,000 subscribers. After which, it is aiming for 100,000 subscribers by FY 2025. Combined with its other growing businesses such as NEXUS and Octopart, I feel Altium is well-placed to grow its earnings at a rapid rate for many years to come.

Domino's Pizza Enterprises Ltd (ASX: DMP)

Another great option could be Domino's Pizza. Its growth over the last few years has been a little up and down, but I remain confident the long term trajectory is upwards. Especially given its same store sales and store expansion goals. Over the next five years the pizza chain operator is aiming to deliver annual same store sales growth of 3% to 6% and annual organic new store additions of 7% to 9%. If it can at least maintain its margins, this should support strong earnings growth over the next decade.

Pushpay Holdings Ltd (ASX: PPH)

A final growth share to buy for market-beating returns is Pushpay. The donor management system provider has just released its full year results and revealed a stunning ~1,500% increase in EBITDAF in FY 2020, The good news is that more strong growth is expected over the next 12 months, with management aiming to double its EBITDAF in FY 2021. But it isn't about to rest on its laurels any time soon. The company has set itself a target of winning a 50% share of the medium and large church market. This represents a US$1 billion revenue opportunity for Pushpay. This compares to the operating revenue of US$127.5 million it recorded in FY 2020.

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 Domino's Pizza Enterprises Limited. 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

A person with a round-mouthed expression clutches a device screen and looks shocked and surprised.
Growth Shares

3 unstoppable ASX growth shares to buy and hold for the long term

Analysts have good things to say about these top stocks.

Read more »

A woman wearing dark clothing and sporting a few tattoos and piercings holds a phone and a takeaway coffee cup as she strolls under the Sydney Harbour Bridge which looms in the background.
Growth Shares

Top Australian stocks for a $7,000 investment today

These stocks are highly rated by analysts. Let's find out why.

Read more »

Two doctors give the thumbs up to an x-ray
Growth Shares

Down 9% in a month! The ASX200 growth stock I'm watching

This healthcare stock could be a buy low option. 

Read more »

A young male ASX investor raises his clenched fists in excitement because of rising ASX share prices today
Growth Shares

Invest $10,000 in these fantastic ASX growth shares

Analysts believe that these shares could be in the buy zone right now.

Read more »

Business man at desk looking out window with his arms behind his head at a view of the city and stock trends overlay.
Growth Shares

Where to invest $20,000 into ASX 200 shares after the market selloff

Analysts think these shares would be top picks for investors with money to put into the market.

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Growth Shares

Now could be a golden opportunity to buy these ASX 200 growth shares

Analysts think these shares could deliver big returns over the next 12 months.

Read more »

A laughing woman wearing a bright yellow suit, black glasses and a black hat spins dollar bills out of her hands signifying the big dividends paid by BHP
Growth Shares

How ASX growth shares could help you retire rich

Here's how investors could you growth shares to power their way to wealth.

Read more »

A businessman hugs his computer and smiles.
Growth Shares

Why I'd buy these 3 ASX shares and not look back for 10 years

Analysts think these shares are destined for big things in the future.

Read more »