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Date : 03/11/2022

Best ASX Growth Stocks 2022 to Buy This Week

Investing during times of uncertainty is uncomfortable. But they provide very exciting opportunities to buy the best growth stocks ASX 2022 cheaply. Currently, opportunities are galore, especially if you are a long-term investor.

The effect of increased interest rates on companies’ share prices has been significant. This is because a higher interest rate makes risk-free investments like government bonds and term deposits seem better than a firm’s expected return in the future. However, equities have trumped all other asset classes in the long run.

In recent weeks, growth stocks ASX listings have experienced a flurry of activity, with several announcements and changes. We believe these are the two best growth stocks ASX 2022 that are too excellent to pass up following recent steep price drops. This week’s top ASX growth stocks feature prominently among the highlights.

Volpara Health Technologies (ASX: VHT)

To detect cancer at its earliest possible stage, Volpara provides breast screening software with the ability to present patients with risk assessments. Their market share is high because at least 33% of all US women undergoing breast screening use at least one of their software products.

According to its most recent financial report, for the quarter ending 30 September 2022, cash collections amounted to NZ$8.8 million, an increase of 23% year over year. Earnings in the first half of FY23 grew by 29% to NZ$17.4 million.

It was the second quarter of FY23, and the contractual annual recurring revenue had reached NZ$36.6 million. This represented an increase of nearly US$500,000 compared to the income brought in during the first quarter of FY23.

It’s encouraging to see this ASX growth stock focusing on turning a profit. The revenue base is expanding, but the expenses have “levelled out.” This is encouraging news for a business with a gross profit margin of about 90%.

B Corp certification was recently achieved, which is encouraging since the company believes that “profitable expansion goes hand in hand with an enlarged commitment to transformational social and environmental change.”

ASX VHT Growth Stocks trend on tradingview.com

Airtasker Ltd (ASX: ART)

Airtasker Ltd is one of the best ASX growth stock 2022 that provides a marketplace where “taskers” may advertise their services to those in need, whether it is maintenance labour, accountancy, graphic design, or anything else that can be outsourced.

Due to the established foundation, the company may benefit significantly from increased volume. Increasing the volume of work on its platforms in Australia, the US, and the UK is all needed to generate substantial revenue.

Airtasker is showing no signs of slowing down in its rapid expansion. Oneflare, an Australian rival with a stronger emphasis on trade employment, was recently bought by the company.

Airtasker had an increase in sales of 80% year over year in the first quarter of FY23, which ended in September 2022, to $10.5 million. Except for Oneflare, total sales increased by 36% to $8 million.

The total gross marketplace volume (GMV) of all transactions in the market increased by 82%, reaching $63.4 million. When excluding Oneflare’s contributions, GMV rose 39% to $48.2m.

According to industry analysts, Oneflare is “racing substantially ahead of expectations” regarding market success and integration.

The rapid expansion of its overseas operations has attracted the attention of investors. Annualized UK GMV is presently at £4.2 million, increasing 68% year-over-year. The number of jobs advertised in the US rose to 13,000, a 4.7x increase over the previous year.

In addition to generating a lot of revenue, this company also has a very high gross profit margin (above 90%).

With a solid presence in the US market, Airtasker has the potential to grow into a much larger enterprise.

ASX ART Growth Stocks on tradingview.com best asx growth stocks 2022

 

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