Amid all of the volatility on the ASX share market, experts have found some ASX growth shares that look like buys right now.
A lower share price may mean that the business is better value for investors now.
Both of the below businesses are growing globally and achieving rapid revenue growth.
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City Chic Collective Ltd (ASX: CCX)
City Chic describes itself as a global retailer that specialises in plus-size women's apparel, footwear, and accessories. It operates a number of different brands including City Chic, Avenue, Evans, CCX, Hips & Curves, and Fox & Royal.
Its clothes are being sold in ANZ, the US, the UK, Europe, and the Middle East.
The business is growing quickly. In the first half of FY22, it generated sales growth of 46%. In a recent update regarding the second half, it revealed that it saw "strong" total sales growth of 25%, with USA total sales growth of 47% and global partner sales growth of 465% (showing an extension of its omni-channel presence in key markets).
It's also expecting FY22 second-half earnings before interest, tax, depreciation, and amortisation (EBITDA) to beat the first half.
The ASX growth share is aiming to expand in the plus-size market which is forecast to grow by around 7% annually. City Chic notes that the average annual spend in plus-size is currently materially less than the rest of the women's apparel market. There is also a forecast of strong growth in online channels in the global plus-size market.
It's currently rated as a buy by the broker Macquarie, with a price target of $6.70. It's positive about the business over the longer term. It thinks the City Chic share price is valued at 14x FY23's estimated earnings.
The City Chic share price is down 1.2% to $2.48 in early trade on Tuesday.
IDP Education Ltd (ASX: IEL)
IDP Education is a business that provides English language testing, student placement, and English language teaching services.
Closed borders had been a serious limiting factor on IDP Education's earnings, but the company said the strength of its business model, impactful innovation, and attractive policy landscape delivered a "strong rebound of results" in the first half of FY22.
It saw "strong volume increases" in English language testing and northern hemisphere study destinations. It said that English language testing volumes increased by 79%, with testing revenue rising 62% to $256.7 million.
Total student placement volumes were up 33% for the year, with a growing demand for northern hemisphere countries leading to a 63% increase in multi-destination student placement volumes.
Australian student placement volumes have been subdued. However, there have been "early signs" of a rebound in interest, coinciding with a relaxation of border restrictions.
Total revenue rose 47% to $396.8 million, with earnings before interest and tax (EBIT) rising by 61% to $77.9 million and net profit after tax (NPAT) going up by 68% to $50.8 million.
Regarding India, one of the ASX growth share's key markets, the company said it has supportive long-term demographics, wealth, and global mobility fundamentals.
The company said it's "strongly positioned in the rebound" and its footprint is expanding in key markets.
Outgoing CEO and managing director Andrew Barkla said:
We have invested for long-term growth and are seeing the benefits of this through increased demand for our services. Our unique digital platforms and trusted human connections will ensure our people, customers and institutions benefit from even stronger support.
UBS thinks IDP Education is a high-quality business with good growth potential. It rates it as a buy, with a price target of $35.90, implying a potential upside of around 50%. The broker's projections put the IDP Education share price at 37x FY23's estimated earnings.
The IDP Education share price has opened 0.34% higher at $23.88 on Tuesday.
