2 ASX growth shares that could be top buy and hold options

Looking for long term options? Check out these ASX shares…

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Listed below are a couple of growth shares that could be worth considering with a long term focus.

Here's why analysts rate them highly:

Bravura Solutions Ltd (ASX: BVS)

The first ASX share to look at is Bravura. It is a leading provider of software solutions for the wealth management and funds administration industries.

Bravura has a portfolio of solutions that are both high quality and have significant market opportunities. Chief among them is its popular Sonata wealth management platform, which allows financial advisers to connect and engage with clients via computers or smart devices.

But Bravura is far from a one-trick pony. It has been strengthening its offering over the last couple of years via acquisitions. This includes adding FinoCamp, Midwinter, and Delta Financial Systems to its portfolio.

After a couple of years of significant headwinds from Brexit and COVID-19, Bravura looks to be back on the right path again. Management recently reaffirmed its guidance for FY 2021 net profit after tax of $32 million to $35 million and second half revenue growth of 10% half on half.

Macquarie currently has an outperform rating and $4.00 price target on the company's shares.

Domino's Pizza Enterprises Ltd (ASX: DMP)

Another ASX growth share to look at is this pizza chain operator. Domino's has been growing at a consistently solid rate for over a decade thanks to the popularity of its offering and the expansion of its footprint.

Pleasingly, its pizzas remain popular and its footprint can still get significantly larger. For example, at the end of the first half, the company had a network of 2,800 stores. It is now aiming to double this over the next decade in its existing markets.

This excludes the Taiwan market, which Domino's announced its entry into via the acquisition of Domino's Taiwan last week. Management advised that it has a sophisticated network of 138 franchised stores and 19 corporate stores at present. However, it sees opportunities to increase its network to 400+ stores in the future. It also expects to deliver growth in its average weekly unit sales.

Bell Potter currently has a buy rating and $122.00 price target on the company's shares. It noted that with a leverage ratio of 1.1x, it has $446 million in funding headroom. And while it has just spent $79 million on Domino's Taiwan, it still has ample capacity to make further acquisitions. Which is something management advised that it is actively pursuing.

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James Mickleboro does not own any shares mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and has recommended Bravura Solutions Ltd. The Motley Fool Australia owns shares of and has recommended Bravura Solutions Ltd. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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