3 of the best ASX shares you can buy today

Afterpay Ltd (ASX:APT) and these ASX shares have been named as ones to buy right now. Here's what you need to know…

| More on:

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 currently searching for a few shares to add to your portfolio in 2021, then you could do a lot worse than the ones listed below.

Here's why these ASX shares come highly rated right now:

Afterpay Ltd (ASX: APT)

Afterpay is a payments company that has been growing at a rapid rate over the last few years. This has been driven by the growing popularity of the buy now pay later payment method with consumers and retailers and its successful international expansion.

Pleasingly, this strong growth has not only continued in 2020, but accelerated thanks to the shift to online shopping because of the pandemic.

One broker that appears confident its strong growth can continue is Credit Suisse. Last week it initiated coverage on the company with an outperform rating and $124.00 price target.

Kogan.com Ltd (ASX: KGN)

Kogan is one of Australia's leading ecommerce companies. Like Afterpay, it has been a big winner from the shift to online shopping. This has seen Kogan record a significant jump in active customers and an even greater lift in sales and earnings.

And with more and more spending expected to shift online in the future, Kogan looks well-positioned to benefit. It is also looking to boost its growth with earnings accretive acquisitions. One of these was announced recently with the acquisition of New Zealand-based Mighty Ape.

Analysts at Credit Suisse were pleased with this acquisition and upgraded Kogan's shares to an outperform rating with a $20.60 price target.

Pushpay Holdings Group Ltd (ASX: PPH)

Pushpay is a fast-growing donor management platform provider. It has been growing its share of the massive United States market at a rapid rate over the last few years. This has underpinned stellar revenue and operating earnings growth.

The good news is this has continued in 2020, with Pushpay recently reporting explosive growth in the first half of FY 2021. Its half year results revealed a 53% increase in operating revenue to US$85.6 million and an even more impressive 177% jump in EBITDAF to US$26.7 million.

Looking ahead, the company has a significant market opportunity to grow into and is targeting US$1 billion in revenue later this decade. Goldman Sachs believes it is well-positioned for growth and has a conviction buy rating and $10.35 price target (now $2.59 after its 4-1 share split) on its shares.

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 Kogan.com ltd and PUSHPAY FPO NZX. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Kogan.com ltd and PUSHPAY FPO NZX. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Growth Shares

Red buy button on an apple keyboard with a finger on it representing asx tech shares to buy today
Share Market News

The smartest growth stock to buy with $5,000 right now

This growth stock has the potential to keep on keeping on. 

Read more »

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

2 explosive ASX shares that could go parabolic

These shares could be destined for big things in the future.

Read more »

A bearded man holds both arms up diagonally and points with his index fingers to the sky with a thrilled look on his face over these rising Tassal share price
Growth Shares

3 exciting ASX 200 growth shares to buy in July

Brokers think these shares could be top picks for growth investors.

Read more »

A woman sits on sofa pondering a question.
Growth Shares

Is this the best ASX 200 share to buy for growth?

This stock is exposed to multiple growth tailwinds.

Read more »

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Growth Shares

Where to invest $50,000 in ASX shares

Analysts think these shares could be great destinations for your hard-earned money.

Read more »

A bland looking man in a brown suit opens his jacket to reveal a red and gold superhero dollar symbol on his chest.
Growth Shares

3 ASX 200 growth shares with room to run in FY26

Let's see why analysts think these shares are top picks for growth investors in the new financial year.

Read more »

Group of children dressed in green hold up a globe relating to climate change.
Growth Shares

3 ASX 200 shares quietly riding major global trends

Analysts think these buy-rated shares are destined to have bright futures.

Read more »

Three excited business people cheer around a laptop in the office
Growth Shares

These amazing ASX shares could be compounding machines

Let's see why these quality shares could be key to generating big returns over the next decade.

Read more »