Looking for growth shares to buy? Listed below are three that are rated as buys by analysts.
Here's why they could be top options for investors:
Image source: Getty Images
Aristocrat Leisure Limited (ASX: ALL)
The first ASX growth share to look at is Aristocrat Leisure. It is one of the world's leading gaming technology companies with a portfolio of world class pokie machines and a growing digital business. The latter has become a significant contributor to its earnings in recent years thanks to the increasing popularity of games such as Raid. And while Aristocrat missed out on acquiring London-listed leading global online gambling software and content supplier Playtech, it still has its eyes set firmly on the real money gaming market. This could be a significant growth driver in the coming years.
Morgans is positive on the company and has an add rating and $43.00 price target on its shares.
Life360 Inc (ASX: 360)
Another ASX growth share that could be a buy is Life360. It is the growing technology company behind the eponymous Life360 mobile app. This highly popular app offers families useful features such as communications, driver safety, and location sharing. At the last count, the company had over 40 million active users. This is underpinning significant recurring revenue and opening up huge cross selling opportunities.
Bell Potter is a big fan of Life360 and has a buy rating and $8.23 price target on its shares.
ResMed Inc. (ASX: RMD)
Finally, ResMed could be a growth share to buy. It is a sleep treatment-focused medical device company that has been tipped to grow strongly over the long term. This is thanks to its industry-leading products and massive market opportunity. Management estimates that there are 1 billion people impacted by sleep apnoea worldwide, with only ~20% of these sufferers diagnosed.
Goldman Sachs is bullish on ResMed and has a buy rating and $36.80 price target on its shares.
