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For investors focused on the long term, there are a handful of ASX growth shares today that have the potential to become significantly larger businesses by 2035.
But which one can buy today?
Here are three that analysts think stand out as future giants:
Life360 has evolved from a family tracking app to a high-growth global subscription platform. Its growth metrics are phenomenal: Payment circles are growing rapidly, monthly active users continue to climb past 90 million, and the company is generating growing profits alongside strong operating cash flow.
What makes life360 particularly compelling is its highly identifiable market. The company’s platform naturally lends itself to premium features such as safety tools, roadside assistance, data services, and partnerships. And with less than a fraction of its global user base currently, the runway ahead is long. It is just beginning to monetize its independent customers through its new advertising business.
Bell Potter is pleased with the company’s approach. So much so, he recently upgraded his shares to a buy rating. 52.50 price target is set.
Another ASX growth stock that could be destined for big things is Next DC.
It is a leading data center operator building the infrastructure that powers Australia’s digital economy. Demand for cloud computing, AI, data processing and storage is growing, and NextDC sits at the center of it.
The company is expanding its high-capacity data center footprint in Australian cities, while securing long-term contracts with hyperscale cloud providers and enterprise customers. This gives NextDC recurring, inflation-linked revenue, strong retention rates and visibility well into the coming years.
Data usage isn’t slowing down. If anything, AI models, automation and high-bandwidth applications are accelerating the need for secure, energy-efficient data storage. Some ASX businesses are also well-positioned for this infrastructure megatrend, such as NextDC.
UBS is a fan of Next DC and has a Buy rating and a 21.45 price target on the stock.
TEMPLE & WEBSTER GROUP LIMITED (ASX: TPW)
Finally, Temple & Webster has quietly become Australia’s leading online furniture and homewares retailer. While the wider retail sector has come under pressure from cautious consumer spending, Temple & Webster continues to take market share thanks to its digital-first model, growing private label range and efficient logistics network.
In Australia, online furniture penetration lags behind that in the US and Europe. This gives Temple & Webster a multi-year growth opportunity as more consumers shift to online shopping for big-ticket items. In light of this, the company could be many times bigger in 2035 than it is today.
Last week, Morgan Stanley set an overweight rating and a $28.00 price target on the stock.
