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Are you in search of high-yield ASX stocks that promise great returns for your portfolio? Look no further, as we have identified two ASX growth shares that are gaining attention and are expected to make significant gains in the next 12 months.
Corporate Travel Management Ltd (ASX: CTD)
Corporate Travel Management is a prominent player in the corporate travel management and technology sector. The company has achieved remarkable growth over the past decade, thanks in part to its innovative SMART technology. This technology not only streamlines the travel management process but also reduces the need for a large workforce.
Morgans, a leading financial services firm, is enthusiastic about the company's prospects, noting that Corporate Travel Management "has continued to develop its market-leading technology offering which means that it will require less staff in the future." The broker is confident that the company's growth trajectory is far from over, positioning it as a top pick in the travel sector.
Morgans has issued an "add" rating on Corporate Travel Management's shares and set a price target of $23.20. With the current share price at $16.92, this target suggests a potential upside of 37% for investors in the next 12 months.
TechnologyOne Ltd (ASX: TNE)
TechnologyOne is a global provider of software-as-a-service (SaaS) enterprise resource planning solutions that simplify business operations and enhance user experiences. In the current market environment, the company stands out as a promising ASX growth share. With its defensive end markets and optimistic growth outlook, it is gaining the attention of investors.
Goldman Sachs, a prominent global investment bank, holds a positive view of TechnologyOne's future, expecting a profit before tax (PBT) growth rate of over 15% annually between FY23 and FY25. This strong outlook is underpinned by an 18% annual recurring revenue (ARR) growth and a modest margin expansion of 220 basis points from FY22 to FY25.
As a result of these promising indicators, Goldman Sachs has assigned a "buy" rating and a price target of $18.30 for TechnologyOne's shares. This target implies a potential upside of 20% for investors in the next 12 months.
Both of these ASX growth shares offer exciting growth opportunities and have received favorable assessments from leading financial institutions. If you're seeking to bolster your investment portfolio with stocks that promise substantial gains, these two companies are well worth considering.
