If you're wanting to boost your portfolio with some quality growth shares, then you might want to take a look at the ones listed below.
Here's why these quality ASX growth shares have been tipped as ones to buy right now:
Kogan.com Ltd (ASX: KGN)
The first ASX growth share to consider buying is Kogan. While this ecommerce company was already growing at a strong rate prior to the pandemic, its growth went up several gears after COVID accelerated the structural shift to online shopping.
This has underpinned an exceptionally strong first half performance. For example, Kogan recently released its half year update and revealed a 96% increase in gross sales over the prior corresponding period.
But perhaps even better, is that its margins have been expanding. As a result, Kogan's gross profit grew over 120% and its earnings before interest, tax, depreciation and amortisation (EBITDA) jumped over 140%.
While the worst of the pandemic is now behind us, the shift to online shopping still has a long way to go. This should mean Kogan benefits from this tailwind for some time to come.
Credit Suisse currently has an outperform rating and $21.08 price target on its shares.
ResMed Inc. (ASX: RMD)
A second ASX growth share to look at is ResMed. This sleep treatment-focused medical device company has been benefiting from tailwinds of its own over the last decade. The key one being the growing awareness of sleep disorders such as sleep apnoea.
This has underpinned very strong demand for ResMed's industry-leading portfolio of products. Positively, with the majority of sleep apnoea sufferers still undiagnosed, the company still has a huge runway for growth over the next few decades.
In addition to this, ResMed has been tipped as a company that will benefit greatly from a shift to home healthcare. This is thanks partly to some smart investments in the out of hospital space over the last few years. This includes its US$800 million acquisition of Brightree in 2016.
Credit Suisse is also a fan of ResMed. It currently has an outperform rating and $29.50 price target on the company's shares.
