3 fantastic ASX growth shares to buy with $2,000 in May

If you've got $2,000 ready to invest as we head into May, now could be a great time to put it to work.

With markets throwing up a mix of volatility and opportunity, focusing on quality companies that are building strong foundations for the future could be one of the smartest moves an investor can make.

If you're a fan of ASX growth shares, then it could be worth taking a look at the three below that analysts rate as buys. Here's what you need to know about them:

TechnologyOne Ltd (ASX: TNE)

TechnologyOne could be a top ASX growth share to buy next month with the $2,000. It provides enterprise software solutions to government, education, and corporate sectors — and it's been quietly delivering profit growth year after year for a long time.

And thanks to its highly successful shift to a software-as-a-service (SaaS) model, its outlook looks as bright as ever. In fact, management has set itself a long-term target of $1 billion+ in annualised recurring revenue (ARR) by FY 2030. This compares to its current ARR of $470.2 million.

And with a sticky customer base, strong margins, and long runway for growth both locally and internationally, I wouldn't bet against TechnologyOne achieving this.

UBS is a fan of the company and has a buy rating and $33.80 price target on its shares.

Temple & Webster Group Ltd (ASX: TPW)

If you believe in the long-term shift toward online shopping, Temple & Webster could be an ASX growth share to get excited about.

It is Australia's leading pure-play online furniture and homewares retailer. As more consumers embrace online shopping for big-ticket items — a trend that still has years of growth ahead — Temple & Webster stands to benefit enormously.

And unlike many traditional retailers, the company doesn't carry the heavy burden of expensive physical stores. Its nimble, capital-light model gives it a major advantage, especially as it continues to grow its brand recognition and expand into new categories like home improvement.

Citi is bullish on the company and has a buy rating and $21.10 price target on its shares.

Treasury Wine Estates Ltd (ASX: TWE)

Finally, Treasury Wine could be a great ASX growth share to buy with the $2,000.

It is one of the world's largest wine companies, with brands like Penfolds and Wolf Blass that enjoy strong recognition across Australia, Asia, and the Americas. After facing some challenges over the past few years — particularly with Chinese tariffs — the company has repositioned itself impressively, growing in the US and other key global markets.

The company is also tapping into the luxury wine trend, a market segment that tends to be more resilient and profitable.

Goldman Sachs believes this has set it up for strong earnings growth in the coming years. As a result, it has put a buy rating and $12.90 price target on its shares.

The post 3 fantastic ASX growth shares to buy with $2,000 in May appeared first on The Motley Fool Australia.

Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor James Mickleboro has positions in Technology One, Temple & Webster Group, and Treasury Wine Estates. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Technology One, and Temple & Webster Group. The Motley Fool Australia has recommended Technology One, Temple & Webster Group, and Treasury Wine Estates. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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