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Are you interested in adding ASX shares to your portfolio?
Listed below are three ASX growth stocks that should be considered. Here’s what you need to know about them:
Aristocrat Leisure Limited 04.30 ASX: ALL
The first share of ASX growth is Aristocrat Leisure. It is one of the world’s leading gaming technology companies with a collection of world-class poker machines and mobile games that continue to gain market share from competitors. But leadership does not stop there. He plans to enter the lucrative real money gaming market. Combined with the repurchase of major stocks, this all bodes well for earnings per share growth in the coming years.
Morgans is a fan of the company and has an additional rating and target price of $ 43.00 for its shares. This means an increase of more than 28% of Aristocrat’s current share price of $ 33.47.
Another share of ASX growth is NextDC. It is a leading data center operator that has benefited greatly from the transition to the cloud, which accelerated during the pandemic. The good news is that there is still a long way to go before this shift, which portends good demand for existing NextDC centers. It is also building new centers to capture growing demand and view the possibility of expanding into other markets.
Goldman Sachs is positive about the company and has a buying rating and a target share price of $ 14.20. That’s compared to NextDC’s latest stock price of $ 10.09, which means more than 40% growth for investors.
The ultimate share of ASX’s growth is technologyOne enterprise software vendor. It has been around for decades, but only recently decided to follow the example of Microsoft and others in the transition to a software-focused business as a service (SaaS). It is gratifying that this transition is going very well and management believes that by fiscal year 2026 it intends to almost double its annual regular income (ARR) to $ 500 million.
The Goldman Sachs team is also very positive about Technology One. The broker currently has a buy rating and a target share price of $ 13.30. This indicates a potential 30% increase for investors from the current TechnologyOne stock price of $ 10.25.