Looking for options for your growth portfolio? If you are, you might want to check out the three ASX 200 shares listed below.
All three ASX growth shares have been named as buys with potential for double digit returns:
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Life360 Inc (ASX: 360)
This location technology company is highly rated by analysts at Goldman Sachs. The broker has a buy rating and $8.35 price target on the ASX tech share.
Goldman is very positive on Life360's long-term outlook and highlights that the company 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 also sees "scope for re-rating as Life360 demonstrates pricing leverage, improving unit economics and progress to cash flow breakeven in FY23."
Pilbara Minerals Ltd (ASX: PLS)
Another ASX 200 growth share that has been named as a buy is Pilbara Minerals. It is a lithium miner with a collection of high quality assets.
Although lithium prices have been getting weaker, Pilbara Minerals is still highly profitable at current levels. Thanks to this and its production expansion plans, analysts at Macquarie remain very positive and are forecasting big earnings and dividends in the future.
It is for this reason that the broker has an outperform rating and lofty $7.70 price target on its shares.
WiseTech Global Ltd (ASX: WTC)
A final ASX 200 growth share that could be a buy is logistics solutions company, WiseTech Global.
Its popular CargoWise One platform has become integral to the global logistics industry and is generating stellar recurring revenue. And thanks to its stickiness and ultra low churn levels, analysts are expecting WiseTech Global to continue its meteoric growth in the coming years.
Ord Minnett currently has an accumulate rating and $90.00 price target on its shares.
