Supercharge your wealth with these buy-rated ASX growth shares

Analysts say that these shares would be great picks for growth investors.

| More on:
A woman wearing a hard hat holds two sparking wires together as energy surges between them. representing the rising Li-S Energy share price today

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

sdf

For investors with a long-term mindset and an appetite for growth, the current share market selloff could be an ideal time to act.

While volatility has dented confidence in recent weeks, some of the ASX's most promising growth stories remain firmly intact — and are now trading at far more attractive levels.

If you're looking to supercharge your wealth, here are three ASX growth shares that brokers still rate as buys. They are as follows:

Life360 Inc (ASX: 360)

The first ASX growth share that brokers rate as a buy is Life360. It is the US-based family safety app provider that continues to grow rapidly, both in terms of user base and revenue. Its flagship offering — the Life360 app — now boasts almost 80 million monthly active users and 2.3 million paying users.

What makes Life360 particularly compelling is its high-margin, subscription-based model and expanding ecosystem, which now includes wearable devices and integration with Tile tracking products. In addition, the company is looking to expand into new areas this year – this includes pet tracking.

Goldman Sachs remains highly positive on the company's future and believes its strong growth can continue long into the future. It is for this reason that the broker currently has a buy rating and $28.00 price target on its shares.

NextDC Ltd (ASX: NXT)

Another ASX growth share to look at is NextDC. It is Australia's leading data centre operator — and a critical player in the country's digital infrastructure.

As more companies shift to the cloud, adopt artificial intelligence (AI), and scale their digital operations, demand for secure, high-performance data storage is only heading one way. Up!

NextDC has responded with an ambitious rollout of new data centres across the Asia-Pacific region, positioning itself to capture long-term growth from enterprise, government, and hyperscale clients.

Goldman Sachs is also feeling bullish about this one. It currently has a buy rating and $17.10 price target on its shares.

Temple & Webster Group Ltd (ASX: TPW)

Finally, Temple & Webster could be an ASX growth share to buy according to analysts. It is an online furniture and homewares retailer that has carved out a dominant position in the Australian e-commerce landscape.

While the post-COVID boom has normalised, the long-term shift toward online shopping continues — and Temple & Webster is capitalising with its strong brand, private label growth, and disciplined execution.

The company is also expanding into home improvement and B2B channels, both of which offer significant untapped potential. Though, time will tell if this side of the business flourishes like its core operation.

Macquarie is a fan of the company and recently named it among its top small and mid-cap picks. The broker has an outperform rating and $17.60 price target on its shares.

Motley Fool contributor James Mickleboro has positions in Life360, Nextdc, and Temple & Webster Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Life360, Macquarie Group, and Temple & Webster Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. 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 brokers analysing the share price with the woman pointing at the screen and man talking on a phone.
Growth Shares

2 ASX shares highly recommended to buy: Experts

Analysts really like these stocks. Here’s why…

Read more »

Three happy office workers cheer as they read about good financial news on a laptop.
Growth Shares

5 ASX growth shares to buy and hold

Analysts think these shares could be top picks for investors looking for growth options.

Read more »

Two players on a field pump their fists in the air, indicating two of the best
Growth Shares

The ultimate buy and hold ASX 200 shares for long-term investors

These buy-rated shares could be great options for investors with a long time horizon.

Read more »

A bearded man holds both arms up diagonally and points with his index fingers to the sky with a thrilled look on his face over these rising Tassal share price
Growth Shares

3 unstoppable ASX shares to buy and hold for the next decade

These shares are going places over the remainder of the decade and beyond.

Read more »

Four piles of coins, each getting higher, with trees on them.
Growth Shares

2 high-growth ASX shares to buy today: brokers

These stocks have a strong growth outlook.

Read more »

Two university students in the library, one in a wheelchair, log in for the first time with the help of a lecturer.
Growth Shares

2 top-quality ASX shares to buy for beginner investors

These stocks could be a great place to start investing.

Read more »

A man in full American NFL playing kit crouches over with his arms across his chest in a defensive stance against a dark background.
Growth Shares

Here's why these two ASX 300 shares are great ones to own

These businesses are two of the fastest-growing stocks in the ASX 300 and are liked by fund manager WAM.

Read more »

A smiling businessman in the city looks at his phone and punches the air in celebration of good news.
Growth Shares

3 ASX growth shares you'll wish you bought in June

Analysts think these shares could be destined for big things in the future.

Read more »