Are you looking to add some growth shares to your portfolio this month?
If you are, three ASX growth shares that could be worth considering are listed below. Here's why analysts are tipping them as buys:
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Altium Limited (ASX: ALU)
The first ASX growth share to consider buying is Altium. It is an an industry-leading printed circuit board (PCB) design software provider. PCBs are the boards you find inside almost all electronic devices and are integral to their operation. And as they come in all shapes and sizes, specialist software is required to design them. Thanks to Altium's dominant position in the market, management appears confident in its outlook and is aiming to more than double its revenue to US$500 million by 2026.
Morgan Stanley is positive on the company. It currently has a buy rating and $43.50 price target on its shares.
Aristocrat Leisure Limited (ASX: ALL)
Another ASX growth share to consider buying this month is Aristocrat Leisure. It is one of the world's leading gaming technology companies with a world class portfolio of poker machines and digital/mobile games. The latter has 5.5 million daily active users playing games such as Cashman Casino, Gummy Drop, EverMerge, Mech Arena, and RAID. Aristocrat is also undertaking a major (recently extended) share buyback and has expanded into the real money gaming market with a deal with MGM.
Citi is a fan of the company and has a buy rating and $41.20 price target on its shares.
Life360 Inc (ASX: 360)
A final ASX growth share that has been named as a buy is Life360. It is a location technology company behind the eponymous Life360 app, which has over 40 million active users. This app offers families features such as communications, driver safety, and location sharing. Goldman Sachs is very bullish on the company due to its leadership position and massive market opportunity. It notes that "Life360 is exposed to a US$12bn global TAM with a large opportunity to expand its product suite, grow average revenue per paying circle (ARPPC), increase payer conversion, and lift penetration rates outside of the US."
The broker currently has a buy rating and $7.90 price target on the company's shares.
