Are you searching for new shares to buy? If you are, you may want to consider the two listed below.
Both of these shares are growing quickly and have been tipped as buys by leading brokers. Here's what you need to know about them:
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REA Group Limited (ASX: REA)
REA Group is the company behind the realestate.com.au website, several international equivalents, and a collection of complementary businesses such as Mortgage Choice.
In FY 2021, the company continued to dominate the ANZ market with a massive average of 121.9 million monthly visits to its website. This was an increase of 35% year on year and is 3.3 times greater than its nearest competitor.
Pleasingly, REA has carried over this momentum into FY 2022. The company recently reported a 35% increase in first quarter revenue to $264 million and a 25% lift in EBITDA to $158 million. This was driven by growth across all Australian segments, underpinned by an increase in national listings.
Macquarie is very positive on REA Group and has an outperform rating and $192.00 price target on its shares.
Temple & Webster Group Ltd (ASX: TPW)
Temple & Webster is Australia's leading online furniture and homewares retailer. It has been growing rapidly over the last few years thanks to its strong market position and the shift to online shopping.
Positively, this shift is only really getting started in the furniture and homewares category. Management notes that just 7% to 9% of category sales were made online in 2020. This is significantly lower than the percentages being observed in other Western markets. So, if Australia follows suit, Temple & Webster will be a major beneficiary. This could support strong sales growth over the remainder of the 2020s.
Morgan Stanley is very positive on the company's future. So much so, it has an overweight rating and $16.00 price target on Temple & Webster's shares.
