The past few months have been tough going for growth investors. Market volatility, global uncertainty, and a rotation out of high-growth names have pushed a number of previously high-flying ASX shares sharply lower.But while falling prices can feel uncomfortable in the moment, they can also open the door to compelling long-term opportunities â especially when the underlying businesses remain strong.
Here are three ASX growth shares that have tumbled 30% or more from their highs and could be worth considering while they're trading at a discount according to analysts. They are as follows:Lovisa Holdings Ltd (ASX: LOV)Fast-fashion jewellery retailer Lovisa has seen its shares fall 35% from recent highs, despite continued expansion and strong same-store sales momentum.The selloff appears to be driven by broader market volatility and concerns around its leadership succession, as the company transitions to a new CEO.
But with a proven global rollout model, strong unit economics, and disciplined cost control, Lovisa remains one of the more compelling retail growth stories on the ASX.It is for this reason that the team at Morgans currently has an add rating and $35.00 price target on the ASX growth share.
Nextdc Ltd (ASX: NXT)Data centre operator Nextdc has seen its shares fall by 37% from their 52-week high. This is despite the company being well placed to benefit from surging demand for digital infrastructure.As cloud computing, AI, and enterprise data usage expand, so too does.
