If you're a fan of ASX growth shares, then you may want to check out the three listed below.
That's because all three have been named as buys with major upside potential by analysts. Here's what you need to know about them:
NextDC Ltd (ASX: NXT)
The first ASX growth share that could be a buy is NextDC. It provides colocation services to local and international organisations from its growing collection of world-class data centre facilities.
Analysts at Goldman Sachs are feeling bullish about NextDC. Goldman likes the company due to "the rapid growth in cloud adoption" and "the significant demand by both public and private investors for digital infrastructure assets."
Goldman currently has a buy rating and a $16.80 price target on its shares. This implies a potential upside of over 30%.
Webjet Limited (ASX: WEB)
Another ASX growth share that could be a buy is online travel booking company Webjet.
The team at Morgans is feeling very positive about the company's outlook. Particularly given its cost-cutting and opportunity in the United States. It highlights that "WEB has clearly come out of COVID with a materially lower cost base, consolidated systems and a large business in the US."
Morgans has an add rating and price target of $8.97 on Webjet's shares. This suggests potential upside of approximately 20%.
Xero Limited (ASX: XRO)
A final ASX growth share that could be a buy is this leading cloud accounting platform provider.
Goldman Sachs is a very big fan of the company. It believes Xero is "very well-placed to take advantage of the digitisation of SMBs globally, driven by compelling efficiency benefits and regulatory tailwinds, with >100mn SMBs worldwide representing a >NZ$76bn TAM."
The broker currently has a buy rating and a $147 price target on Xero's shares. This implies an upside of ~28% for investors from current levels.
