The Motley Fool

2 Top TSX Stocks to Buy With $2,000 in May 2021

Image source: Getty Images

Despite the fluctuations in the stock market, I expect the uptrend in top TSX stocks to continue, as the structural shift in selling models towards the omnichannel platforms, revival in consumer demand, and economic expansion provide a solid underpinning for growth. 

We’ll focus on two TSX-listed stocks that have delivered stellar returns over the past several years and are likely to outperform the broader markets by a significant margin in the coming years. 


Shopify (TSX:SHOP)(NYSE:SHOP) continues to fire on all cylinders and has delivered stellar financial and operating performance. Its total revenues more than doubled in the most recent quarter. Meanwhile, its subscription solutions and merchant solutions revenues recorded year-over-year growth of 71% and 137%, respectively. Furthermore, its monthly recurring revenue is growing at a CAGR of 45%, which is encouraging. 

Notably, Shopify stock has surged over 800% in three years. However, it witnessed selling in the recent past on expensive valuations and expected normalization in the pace of growth from the reopening of the physical retail and services.

I believe long-term investors should worry much about Shopify’s high valuation and continue to buy the dip in its stock. I believe the spending on e-commerce platforms could continue to increase in the coming years, proving multi-year growth opportunities. Further, Shopify could continue to capitalize on favourable industry trends, thanks to its growth initiatives.

Shopify’s growing international presence, expansion of fulfillment services, multi-currency payments solutions, and addition of multiple sales and marketing channels provide a solid foundation for growth and are likely to accelerate its growth rate further. Shopify’s stellar revenue growth and operating leverage strengthen my bullish view


goeasy (TSX:GSY) is among the top-performing stocks listed on the TSX. It has appreciated by 2,139% in 10 years. Moreover, it has increased by about 223% in one year. The strong growth in its stock is backed by its robust revenues and earnings. Its top line has increased at a CAGR of 13% since 2001. During the same period, goeasy’s adjusted earnings grew at a CAGR of 25%. 

I believe goeasy’s revenues and earnings could continue to grow at a strong double-digit rate in the future, which is likely to drive its stock higher. goeasy’s top line is expected to benefit from the reopening of the economy, improving customer demand, and growth in its loan portfolio. Meanwhile, expense management is likely to support its earnings growth. 

Furthermore, goeasy is likely to benefit from the large non-prime lending consumer credit market. Also, increased penetration of secured loans, growing loan size, channel and product expansion, and opportunistic acquisitions are likely to bolster its revenue and earnings growth rate further.

Thanks to its high-quality earnings base, goeasy has consistently paid regular dividends for 17 years in a row. Furthermore, its quarterly dividends have grown at a CAGR of 34% in the past seven years, while it offers a decent yield of 1.8%. I believe goeasy’s strong double-digit earnings growth could continue to drive its future dividends at a breakneck pace. 

Besides these high-growth stocks, take a look at this free report for undervalued stocks below $50...

Just Released! 5 Stocks Under $49 (FREE REPORT)

Motley Fool Canada's market-beating team has just released a brand-new FREE report revealing 5 "dirt cheap" stocks that you can buy today for under $49 a share.
Our team thinks these 5 stocks are critically undervalued, but more importantly, could potentially make Canadian investors who act quickly a fortune.
Don't miss out! Simply click the link below to grab your free copy and discover all 5 of these stocks now.

Claim your FREE 5-stock report now!

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 Sneha Nahata has no position in any of the stocks mentioned. Tom Gardner owns shares of Shopify. The Motley Fool owns shares of and recommends Shopify and Shopify.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss an important event.

Iain Butler and the Stock Advisor Canada team only publish their new “buy alerts” twice a month, and only to an exclusively small group.

This is your chance to get in early on what could prove to be very special investment advice.

Enter your email address below to get started now, and join the other thousands of Canadians who have already signed up for their chance to get the market-beating advice from Stock Advisor Canada.