4 top ASX growth shares to buy and hold

Analysts think these stocks are in the buy zone right now.

| More on:
Man pointing an upward line on a bar graph symbolising a rising share price.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Are you wanting to add a growth share or two to your portfolio?

If you are, then analysts think the four listed below could be worth considering.

Here's why these growth shares could be top buy and hold options:

Aristocrat Leisure Limited (ASX: ALL)

The first ASX growth share that could be a great long-term buy is Aristocrat Leisure.

It is one of the world's leading gaming technology companies with operations covering poker machines, real money gaming, and mobile games. The latter has millions of daily active users playing games such as Cashman Casino, Gummy Drop, EverMerge, and RAID.

Macquarie is very positive on the company and is forecasting strong earnings growth in the near term. The broker currently has an outperform rating and a $48.50 price target on its shares.

Temple & Webster Group Ltd (ASX: TPW)

Another ASX growth share to look at is Temple & Webster. It is Australia's leading pureplay online furniture and homewares retailer.

Temple & Webster has been growing at an explosive rate in recent years thanks to the structural shift online. And with this shift still in its early stages in this particular retail category, the future looks very bright for the company.

The team at Citi believes its strong form can continue for the foreseeable future. As a result, the broker recently put a buy rating and $13.00 price target on its shares.

Webjet Limited (ASX: WEB)

A third ASX growth share for investors to look at is online travel booking company Webjet.

Morgans is feeling very positive about the company's outlook. Particularly given its dominant WebBeds B2B business and the "significant market share still up for grabs." The broker believes this positions the company well for the future.

Morgans has an add rating and price target of $10.33 on Webjet's shares.

WiseTech Global Ltd (ASX: WTC)

Another ASX growth share that could be a top buy and hold option is WiseTech Global.

It is the name behind the CargoWise One logistics management platform. This platform is integral to the global logistics industry. It allows users to execute complex logistics transactions and manage freight operations from a single, easy-to-use platform.

Demand continues to grow for CargoWise, which is supporting very strong recurring revenue growth. The good news is that thanks to the stickiness of the platform, recent bolt-on acquisitions, and organic growth, the company has been tipped to continue its growth long into the future.

UBS is a fan of WiseTech Global and currently has a buy rating and a $102.00 price target on its shares.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group, Temple & Webster Group, and WiseTech Global. The Motley Fool Australia has positions in and has recommended Macquarie Group and WiseTech Global. The Motley Fool Australia has recommended Temple & Webster Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Growth Shares

two children squat down in the dirt with gardening tools and a watering can wearing denim overalls and smiling very sweetly.
Growth Shares

How to maximise $10,000 by investing in 2 ASX growth shares

Here are my best growth ideas on the ASX right now.

Read more »

A man sees some good news on his phone and gives a little cheer.
Growth Shares

These ASX 200 growth shares could rise 50% to 60%

Big returns could be on offer from these growing companies according to analysts.

Read more »

Sports fans looking at smart phone representing surging pointsbet share price
Growth Shares

Up 111% in six months, this soaring ASX share is backed to keep rising

One fund manager thinks this ASX growth share can continue its phoenix performance.

Read more »

a happy investor with a wide smile points to a graph that shows an upward trending share price
Growth Shares

These ASX growth shares are being tipped to smash the market

Returns of 14% to 68% could be on the cards for buyers of these shares according to brokers.

Read more »

A young male ASX investor raises his clenched fists in excitement because of rising ASX share prices today
Growth Shares

These ASX 200 growth shares could rise 50% to 70%

Analysts are predicting these stocks to rise materially from current levels.

Read more »

A young boy sits on his father's shoulders as they flex their muscles at sunrise on a beach
Growth Shares

2 ASX 300 growth shares with 'strong momentum' this fund manager says are buys

These two stocks have plenty of growth potential, according to experts.

Read more »

Rocket going up above mountains, symbolising a record high.
Growth Shares

2 high-growth ASX shares to buy now

Analysts at Bell Potter think these shares would be great picks for growth investors.

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Growth Shares

These ASX 200 growth stocks could rise 30% to 100%

Analysts think these shares are dirt cheap at current levels and have put buy ratings on them.

Read more »