Are you looking for growth shares to buy? If you are, then you may want to check out the two listed below that experts rate as buys.
Here's what analysts are saying about these ASX growth shares right now:
Image source: Getty Images
Jumbo Interactive Ltd (ASX: JIN)
According to analysts at Morgans, this online lottery ticket seller could be an ASX growth share to buy right now.
The broker appears confident on Jumbo's outlook thanks to its defensive qualities, low capital expenditures, and its global opportunity with the Powered by Jumbo software-as-a-service (SaaS) platform. It explained:
We believe JIN offers excellent strategic growth opportunities, both in Australia and overseas, supported by a steadily expanding domestic market for digital lottery retailing. The business is cash generative and has a low requirement for ongoing capex. Lottery sales are resilient to economic cyclicality. They do not represent a large proportion of the personal budgets, hovering around 0.5% of household discretionary income in Australia. Although near-term sales are affected by the frequency of large jackpots, over time growth is steady.
Morgans currently has an add rating and $17.50 price target on the company's shares. This compares to the latest Jumbo share price of $15.48.
Temple & Webster Group Ltd (ASX: TPW)
Another ASX growth share that experts say investors should buy is Temple & Webster. It is Australia's leading pure-play online retailer of furniture and homewares.
One of the most bullish brokers is Goldman Sachs, which is tipping the company to grow at a rapid rate long into the future. It expects this to be underpinned by the company's leadership position in a retail category that is still in the early stages of shifting online. The broker explained:
Our Buy thesis is predicated on the following key drivers: (1) we believe TPW is well positioned in the upcoming cycle to continue to grow market share, despite a weaker macro environment; (2) in our view TPW is best placed to be a winner in a category that favours scale players, requires a specialised approach to e-commerce, and has higher barriers to entry vs. other retail categories; and (3) greater focus on costs is a sensible strategy to balance near-term profitability with growth.
Goldman has a buy rating and $7.50 price target on the company's shares. The Temple & Webster share price is currently fetching $5.23.
