Got $1,000? Here Are 3 Top TSX Stocks for High Growth

Even with just $1,000, you can turn that into a cash hoard by investing in high-growth stocks like these three.

| More on:
Growth from coins

Image source: Getty Images

After a year of struggle, TSX stocks seem to be on the rebound. A K-shaped recovery seems to be underway, with some stocks rising from the ashes, and others remaining stagnant and falling further as the pandemic continues. This should tell investors that we aren’t out of the woods yet, but this year should definitely be better than the last. As the world and the economy recover, here are three top growth stocks to have on your watchlist.


Kinaxis (TSX:KXS) became of the tech stocks to rise and then fall with the promise of an end to the pandemic. But that makes today’s share price incredibly valuable. Shares of the $4.85 billion company climbed to around $225 last year, only to fall to around $130 before starting to climb again. Yet over the past five years, shareholders in Kinaxis stock have seen gains of 352% as of writing.

The supply-chain management company is a top player in protecting and managing enterprise information. These customers are in a wide range of industries around the world, with not one customer taking up more than 5% of its portfolio. And the company only continues to become bigger, as more businesses realize an online presence is a necessity.

With a compound annual growth rate (CAGR) of 35%, this is a growth stock that should continue climbing in the years to come as e-commerce continues to grow. And right now, it’s at a price that could climb 47% to reach all-time highs.

Dye & Durham

Dye & Durham (TSX:DND) also had quite the year in 2020. The stock missed out on the crash, coming on the market right before the majority of tech stocks reached a peak. From its IPO the stock climbed about 355% before falling as a vaccine rollout began. Today, shares are still up 202% after falling 26% in the tech selloff.

While shares are climbing, the reaction is still cool to the software manager for legal and government firms. There’s still plenty of market-beating growth for this new growth stock, especially for long-term investors. Investors may want to buy up this company before it jumps in a tech stock rebound.

The cool down is good for investors wondering how much shareholders are willing to pay, so you can be confident you aren’t buying in at an inflated price. The stock has a reasonable price-to-book (P/B) ratio of five, making it a solid buy today for investors seeking growth.

Real Matters

Real Matters (TSX:REAL) shares sunk by 40% from peak to trough during the COVID-19 market crash. Investors were obviously worried that a market crash could also mean a housing crash. That would be bad news for Real Matters’s revenue in the mortgage lending and insurance sectors.

But the $1.44 billion software company saw a surge in the renewal of these loans and mortgages with interest rates still so low. That includes both here in Canada and in the United States where it has a significant foothold. This is great news, as the U.S. is predicted to recover before Canada, meaning the company will continue to see massive growth.

Shareholders are laughing at the original 40% tank, as the stock has had an incredible run. Shares reached peak growth of about 233% back in August before tapering off. Today, shares are still up by 56% from the tech selloff. As the economy reopens, it’s likely investors will see a tech rebound, and that will include this company. It’s a steal today with a P/B ratio of 5.3 and an incredible P/S ratio of 2.2!

Foolish bottom line

The Canadian economy is expected to start recovering in 2021. The K-shaped recovery will soon start to close, and these stocks that have seen a fall will start climbing once more. While it’s difficult to time when this will happen, investors can use fundamentals to pick out growth stocks set to climb soon. So, if you’re looking to ride the recovery, consider adding these stocks to your portfolio.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Amy Legate-Wolfe owns shares of KINAXIS INC. The Motley Fool recommends KINAXIS INC and Real Matters Inc.

More on Tech Stocks

grow dividends
Tech Stocks

2 ETFs That Grew Over 98% in the Last 5 Years

Unlike individual stocks that represent a market unit, ETFs usually represent a market segment. If they follow sector-specific indexes, they …

Read more »

work from home
Tech Stocks

RRSP Investors: Want to Turn $10,000 Into $50,000?

With February fast approaching, our focus naturally turns to RRSP investing. This is a good time to make note of …

Read more »

Shopping and e-commerce
Tech Stocks

Can Shopify Recover to New All-time Highs in 2022?

With more than 1.7 million merchants on its platform, Shopify (TSX:SHOP)(NYSE:SHOP) is undoubtedly a core platform for SMBs. The company’s software-as-a-service platform …

Read more »

Businessman holding tablet and showing a growing virtual hologram of statistics, graph and chart with arrow up on dark background. Stock market. Business growth, planning and strategy concept
Tech Stocks

The 5 Best High-Growth TSX Stocks to Buy on the Dip

The broader market selling, primarily in high-growth stocks, provides a solid opportunity for investors to buy future winners at lower …

Read more »

Coronavirus written newspaper close up shot to the text.
Tech Stocks

The 2 Best Tech Stocks to Buy Today for Low-Risk Investors

Overvalued tech stocks are undergoing a major correction after inflating on the back of high liquidity from fiscal stimulus packages. …

Read more »

Choose a path
Tech Stocks

Is Ripple Primed for 100% Growth in 2022?

From an investment perspective, most cryptocurrencies seem similar. Almost all of them seem volatile, and while some get more limelight …

Read more »

Tech Stocks

Tech Crash: 2 Tech Stocks Analysts Have Sliced in Half

The TSX has continued to wax and wane over the past week. After a huge fall on Monday, shares started …

Read more »

Hand holding smart phone with online shop concept on screen
Tech Stocks

Shopify Stock Selloff: Could it Turn Around in February?

Shopify (TSX:SHOP)(NYSE:SHOP) continues to be one of the worst-affected stocks amid the ongoing market selloff. After posting its worst weekly …

Read more »