3 Stocks up 40% in 2018 That Are Still Great Buys Today

Shopify Inc. (TSX:SHOP)(NYSE:SHOP) and these two other stocks are off to great starts to 2018 and could still offer investors great returns the rest of the year.

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This year has been a very volatile one for stocks, and while the TSX is recovering from a bad start, investors that have tried to mirror its results would be disappointed thus far. However, there have been some high-flying stocks that have soared over and above the market and that could be great buys today as their share prices continue to rise.

Below are three stocks that have increased more than 30% since the start of the year and that still have a lot of upside left.

Shopify Inc. (TSX: SHOP)(NYSE:SHOP) has been very volatile over the past 12 months, and although it is down from its peak price of over $200 that it reached earlier this year, year to date the stock is still up 40%. Shopify’s stock has been hit hard by reports about its business, and although its recent results were strong, a weak guidance for the year resulted in a dip in the share price.

However, since then, the stock has been riding high, and it is looking poised to make another run at $200. While the company may not be producing profits for investors, rising sales have been more than enough to convince investors that it is a good buy, and as long as Shopify can keep doing that, the stock price could continue to increase.

Stars Group Inc. (TSX:TSGI)(NASDAQ:TSG) is another company that has achieved incredible growth over the years. So far in 2018, Stars Group has seen its share price rise ~45%, and in the past 12 months it has increased more than 70%.

While it is known for its successful PokerStars brand, the company has tried to diversify its offerings and be less reliant on poker to grow its business. Recently, the company acquired Sky Betting & Gaming in a deal that would see Stars Group extend its reach further and have more of a presence in the world of sports betting.

In its most recent fiscal year, sales were up more than 13% and have grown 33% in just two years, averaging a strong 16% profit margin during that time. This new acquisition will only drive even more growth in the company’s financials and its stock price, making Stars Group a great buy today.

Baytex Energy Corp. (TSX: BTE)(NYSE: BTE) isn’t a tech stock or your typical high-growth stock, but it is seeing a rapid increase in share price. The stock has actually outperformed the other two on this list, with its share price climbing more than 50% since January. Although it was initially off to a slow start, in the past three months the stock price has nearly doubled.

Strong oil prices have helped give the oil and gas industry a stronger outlook, and Baytex has been a big beneficiary of that. The company recently released its quarterly earnings, which could drive the share price up even further, as the company noted that it expected to be on track to meet its guidance and saw great production rates from its new wells.

Momentum is starting to build in the industry, and Baytex’s stock price could continue to rise, as it still offers investors a very good value with the stock trading well below its book value.

Fool contributor David Jagielski has no position in any of the stocks mentioned. Tom Gardner owns shares of Shopify. The Motley Fool owns shares of Shopify and SHOPIFY INC. Shopify is a recommendation of Stock Advisor Canada.

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