Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

3 High-Flying Growth Stocks to Buy Today

Stock MarketsSep 17, 2021 08:16
Saved. See Saved Items.
This article has already been saved in your Saved Items
3 High-Flying Growth Stocks to Buy Today

There’s no denying that focusing on growth stocks is the fastest way an investor can achieve financial independence. In addition, growth stocks also tend to be very exciting companies to follow, because they are often leaders in innovation. However, with that said, it can be very difficult to decide which growth stocks to hold in your portfolio. Growth stocks can be tougher to valuate compared to blue-chip dividend companies. In this article, I’ll discuss three high-flying growth stocks to buy today.

Start with a blue-chip company Not all blue-chip companies are able to generate year-over-year revenue growth of 50% or 100%. In fact, an ability to do that at any size is fairly rare. That’s why, when a blue-chip company is capable of doing that, investors should take notice. Shopify (TSX:SHOP)(NYSE:SHOP) may not be a stock capable of making you a millionaire at this point, but it does have the ability to make you richer over the next decade.

The e-commerce industry represented about 4% of all Canadian retail sales in 2019. Due to the pandemic, consumers shifted their spending habits and pushed the industry into accounting for more than 11% of all Canadian retail sales in 2020. With worldwide e-commerce penetration expected to increase significantly over the next decade, Shopify could see tonnes of growth. The company’s platform is inclusive of all business sizes, giving it a tremendous total addressable market.

Shopify has certainly grown a lot since its 2015 IPO, but investors still have a lot to like here.

This company is a true contender in its industry As the e-commerce industry continues to grow, so will the digital payments industry. In fact, over the pandemic, companies like PayPal (NASDAQ:PYPL) have seen aggressive amounts of growth. This bodes well for Nuvei (TSX:NVEI), which already made history on its first day of trading. Nuvei’s IPO was the largest of all tech companies in Canadian history.

Many of Canada’s greatest tech companies have managed to grow via intelligent merger and acquisition strategies. It isn’t really a surprise that Nuvei has decided to take the same route. In this month alone, Nuvei has managed to acquire two more businesses: Simplex and Paymentez. Although these acquisitions are great for Nuvei, investors should watch future deals closely to ensure the company stays on track. Nuvei stock has gained 256% since its IPO, last September, but I don’t think the company is anywhere close to done in terms of growth.

My favourite tech company on my watchlist (TSXV:TOI) is a company I’ve been watching since February. At the time of its IPO, the company really excited me because of its close ties to Constellation Software. However, I’ve still yet to enter a position in the company. Since then, Topicus stock has managed to gain about 120%.

Topicus doesn’t have a very exciting business, per se. Much like its former parent company, it focuses on acquiring vertical market software companies. However, it differentiates itself by operating solely within Europe. So far, Topicus has been able to find massive success employing its M&A strategy. With Constellation Software executives behind this company, investors can expect a lot more growth in the future.

The post 3 High-Flying Growth Stocks to Buy Today appeared first on The Motley Fool Canada.

Fool contributor Jed Lloren owns shares of Shopify. The Motley Fool owns shares of and recommends Constellation Software, PayPal Holdings, Shopify, and Topicus.Com Inc. The Motley Fool recommends Nuvei Corporation and recommends the following options: long January 2022 $75 calls on PayPal Holdings, long January 2023 $1,140 calls on Shopify, and short January 2023 $1,160 calls on Shopify.

This Article Was First Published on The Motley Fool

3 High-Flying Growth Stocks to Buy Today

Related Articles

Should You Buy a Uranium Stock?
Should You Buy a Uranium Stock? By The Motley Fool - Dec 07, 2021

Do you own a uranium stock? The segment has taken off in recent months. But is this rally a temporary blip on the radar or a sign of bigger things to come? Let’s look at...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email