If you're a growth investor looking for some investment ideas for October, then the shares listed below could be worth considering.
Here's what you need to know about these growth shares:
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BetaShares Global Cybersecurity ETF (ASX: HACK)
Rather than buying a single growth share, investors could consider buying an exchange traded fund (ETF) filled to the brim with quality growth shares.
The BetaShares Global Cybersecurity ETF is home to a group of growing companies aiming to keep people and businesses safe online. This is becoming an increasingly important service, particularly given how cybercrime is on the rise and is expected to become even more prevalent in the future.
Among the companies that you'll be owning a slice of are cybersecurity leaders including Accenture, Cisco, Cloudflare, Crowdstrike, Okta, and Zscaler.
The index the fund tracks has been a market beater over the last five years. During this time, it has generated an average return of 24.15% per annum.
Temple & Webster Group Ltd (ASX: TPW)
Another quality option to consider is Temple & Webster. Australia's leading online furniture and homewares retailer could be a growth share to buy due to its strong long term potential.
In FY 2021, the company reported an 85% increase in revenue to $326.3 million and a 62% year on year increase in customer numbers to 778,000.
However, with online furniture shopping still in its infancy in comparison to other categories and Western markets, it looks well-positioned to grow its revenue materially over the 2020s. Especially given management's investment in sales and marketing to cement its leadership position.
The team at Morgan Stanley are very positive on the company's outlook. Its analysts currently have an overweight rating and $16.00 price target on its shares.
