Investing is hard. In the simplest and most honest language, it’s hard. However, it’s possible for the everyday person to do well in the market and even beat it over the long run. At The Motley Fool, we proudly display our winning track record for all readers to see. This is done through disciplined investing and by having conviction in your positions. In this article, I will discuss three stocks to buy now. All three companies are leaders in their fields and will strengthen any portfolio.
A favourite among Canadian growth investors
When discussing Canadian growth stocks, it’s impossible to avoid mentioning Shopify (TSX:SHOP)(NYSE:SHOP). The company has grown from a small startup in Ottawa to becoming a leading e-commerce enabler around the world. In fact, today, its largest market isn’t even in Canada. The country that boasts the most active merchants is China. This shows that Shopify’s management team has been successful in reaching new markets.
In 2020, this ability to reach a worldwide merchant base paid off in a big way. Countries around the world had to shut down due to the COVID-19 pandemic and online retailers stepped up. Over the Black Friday-Cyber Monday weekend, Shopify merchants sold a total US$5.1 billion. With e-commerce continuing to penetrate markets around the world, Shopify’s growth story is just beginning. As of this writing, the stock trades 23% its recent highs, making it an excellent buy today.
This company has been a winner due to the COVID-19 pandemic
As terrible as it sounds, there have been companies that have benefitted from the COVID-19 lockdowns. Take Docebo (TSX:DCBO)(NASDAQ:DCBO) for example. The company provides a cloud-based, AI-powered eLearning platform for enterprises. Using its software, training managers can more efficiently assign, monitor, and modify training exercises. This is exactly the kind of technology that businesses needed in order to keep operations running smoothly during the pandemic.
Docebo’s platform has been validated by A-list companies over the past couple years. First came its integration into the Salesforce platform. This was big news as the world’s leading CRM platform offered businesses the opportunity to use Docebo’s LMS software on the same application. In Q4 2020, Docebo made another big announcement through its multi-year partnership with Amazon to power AWS Training and Certification offerings. The stock trades 30% from its recent highs, it’s a great buy at these levels.
One of the most reliable growth stocks in the country
It’s very hard to find a company that will provide reliable market beating growth year after year. That’s exactly what investors have been gifted in a company like Constellation Software (TSX:CSU). Since October 2007, Constellation Software has gained nearly 8,300% in value. This represents an average annual gain of 39%. Compare that performance to the TSX, which has returned a total of 33% over that same period.
Although Constellation Software is undoubtedly considered a growth stock, it has not been hit hard by the recent market correction. In fact, the stock has gained nearly 7% over the past month, whereas its peers in the tech industry have seen declines of 30% or more. Constellation Software is not a hot new tech IPO; however, its growth has remained to be reliable throughout the years. This is one of those stocks that you can add to your portfolio almost on any given day. Today’s one of those days.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Fool contributor Jed Lloren owns shares of Docebo Inc. and Shopify. David Gardner owns shares of Amazon. Tom Gardner owns shares of Salesforce.com and Shopify. The Motley Fool owns shares of and recommends Amazon, Constellation Software, Salesforce.com, Shopify, and Shopify and recommends the following options: long January 2022 $1920 calls on Amazon and short January 2022 $1940 calls on Amazon.