Looking for growth stocks to buy in January? Then you won’t want to miss the ones listed below.
These two ASX growth stocks have been announced for big things going forward:
The first growth part to look at is Altium. Inside most electronic devices, you will find a printed circuit board (PCB). These printed circuit boards have very complex designs and are an integral part of the operation of these devices. This means that specialized software is needed to design and manufacture them.
Altium is a leading circuit board design software company that aims to dominate its industry this decade with its cloud-based Altium Designer and Altium 365 platforms. The latter is seen as the main driver of future growth and the key to reaching its goal of 100,000 subscribers and $ 500 million in revenue by fiscal 2026. This compares to its 51,000 subscribers and to sales of $ 189 million in FY. 2020.
One broker who is confident about his prospects is Morgan Stanley. Its analysts have an overweight rating and a target price of $ 40.00 on the company’s shares.
Xero is a leading provider of cloud-based business and accounting software with a focus on small and medium businesses.
With its successful evolution to a complete solution for small businesses over the past few years, the company has grown its customer base and revenue at a rapid rate. Even during the pandemic. This has led to very high returns for shareholders.
Fortunately, due to the ongoing transition to cloud-based solutions, its global market opportunity, and growing application ecosystem, Xero has been tipped for more of the same in the future.
Goldman Sachs analysts believe Xero is well positioned for decades of strong revenue growth. The broker has a buy rating and a target price of $ 157.00 on the shares of the company.
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James Mickleboro has no position in any of the stocks mentioned. Motley Fool Holdings Inc., the parent company of Motley Fool Australia, owns stock and recommends Altium. Motley Fool Australia’s parent company, Motley Fool Holdings Inc., owns shares of Xero. The Motley Fool Australia does not have a position in any of the titles mentioned. The Motley Fool has a disclosure policy. This article only contains general investment advice (under AFSL 400691). Authorized by Bruce Jackson.