If you're wanting to boost your portfolio with a couple of growth shares, then you may want to consider the ones listed below.
Here's why these ASX growth shares have been rated as buys:
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Nearmap Ltd (ASX: NEA)
The first ASX growth share to look at is Nearmap. It is a leading aerial imagery technology and location data company with operations in the ANZ and North American markets.
Nearmap gives businesses instant access to high resolution aerial imagery, city-scale 3D datasets, and integrated geospatial tools. This means that users can inspect, measure, or analyse locations from anywhere, which turns high-definition aerial map data into a powerful project management tool.
Management believes it has a large addressable market to grow into and is targeting annualised contract value (ACV) growth of 20% to 40% per annum over the long term.
One broker that appears confident in its growth trajectory is Goldman Sachs. It currently has a buy rating and $2.95 price target on Nearmap's shares. This compares to the latest Nearmap share price of $2.18.
Zip Co Ltd (ASX: Z1P)
Although 2021 has been an amazing year for the Zip share price, the last seven weeks have been anything but that. After peaking at $14.53 in the middle of February, the Zip share price is now trading 42% lower at $8.42. And that's even after a stunning 9% gain on Tuesday following a rebound in the tech sector.
One broker that appears to see this as a buying opportunity for investors is Morgans. Its analysts currently have an add rating and $12.10 price target on the company's shares. Based on the latest Zip share price, this implies potential upside of almost 44% over the next 12 months.
It appears to have been pleased with its first half performance, which saw Zip report a 141% increase in total transaction volume to $2.32 billion and a 130% jump in revenue to $160 million. This was driven by a 217% increase in global active customers to 5.7 million, thanks largely to its rapidly growing US-based QuadPay business.
