There are a lot of ASX growth shares for investors to choose from on the Australian share market.
To narrow things down, let's take a look at some that could be considered among the best of the best.
Here's why analysts think they could be top picks for a $2,000 investment:
Pro Medicus is one of the most explosive ASX growth shares on the Australian share market.
For many years, the health imaging technology company has been growing at a rapid rate thanks to increasing demand for its Visage solution.
Bell Potter believes this strong form can continue. It said:
The PME full stack solution continues to wipe the floor with competitors – 10 contract announcements in the LTM including two new academic medical centres clients. FY25/26 revenues upgraded by 4% and 2% respectively. In addition we expect further growth in the cardiology space with the first small scale implementation to take place in April 2025.
Bell Potter has a buy rating and $330.00 price target on its shares.
Goldman Sachs thinks that ResMed could be an ASX growth share to buy with $2,000.
It is a leading sleep disorder treatment company with a world class portfolio of devices and software to treat sleep apnoea and other conditions.
Sleep apnoea is a huge market, with an estimated 3 in 10 men and 1 in 5 women having the condition. And with awareness increasing thanks to technology, ResMed is in a very strong position as the clear industry leader. Goldman Sachs said:
Our Buy recommendation on RMD is premised on (1) Ongoing robust new patient growth for CPAP therapy despite the market entry of GLP-1 drugs to treat OSA, (2) Further RMD market share gains, building on its #1 global market position, (3) Expansion of the OSA market in regions outside of the US. We believe the stock's current trading multiple is unjustified based on its growth outlook.
Goldman has a conviction buy rating and $49.00 price target on its shares.
Finally, WiseTech Global could be another ultimate ASX growth share to buy.
It is a leading global provider of software solutions to the logistics services industry with its CargoWise One platform.
WiseTech Global has been growing at a rapid rate for many years thanks to strong demand for CargoWise One. And while product launch delays and CEO indiscretions have weighed on sentiment in recent months, the future remains very bright for the company and its shares.
It is for this reason that Goldman Sachs is tipping it as a buy. It said:
We are positive on WiseTech's strong competitive position which contributes to efficiency gains for LGFF's. Over the short-to-medium term we expect WiseTech's earnings profile to benefit from new product releases such as Container Transport Optimizer, as well as the company continuing to grow penetration of their core business.
We expect WiseTech will continue to focus on product development over the long-term, which should underpin margin expansion and earnings growth. Hence, with the risk/reward profile skewed to the upside we are Buy rated.
Bell Potter currently has a buy rating and $128.00 price target on its shares.
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