2 Growth Stocks That Could Skyrocket in 2026 and Beyond

Create portfolio balance and add some growth in 2026 and beyond with these two magnificent Canadian stocks, which look under-owned here.

| More on:
rising arrow with flames

Source: Getty Images

Key Points

  • Shopify's dominance in the e-commerce sector and its consistent market share growth position it as a top-tier growth stock, set to benefit from the continued shift towards online shopping.
  • Despite recent setbacks, Boyd Group's focus on organic growth and strong market presence in the autobody repair space support its potential for long-term gains, driven by increasing demand for vehicle maintenance.

Finding top-tier blue-chip growth stocks to buy in this market is one thing. Of course, sticking with these picks through 2026 for future years is the key.

Of course, a number of factors can change an investor’s thesis, and there’s a big difference between being patient and being stubborn. That said, the following two companies are TSX growth stocks I’ve touted as winners for many years, and this thesis has played out nicely.

Here’s why I think these companies’ upside trajectories will remain intact in 2026 and for years to come.

Shopify

If I’m going to put together a list of stocks with some serious growth potential in 2026 and beyond, I’d better have Shopify (TSX:SHOP) as one of my top picks.

Just have a look at that chart above. It’s a thing of beauty. The thing is, if investors zoom out a little more, the returns start to look more like a parabola. For long-term investors who have stuck with this name, that’s a great thing.

This is one of those companies where I think if investors buy into a core thesis (in this case, e-commerce growth continuing to outpace that of bricks-and-mortar retail, as well as Shopify’s dominant market share in this space holding steady or growing), it’s going to be a long-term winner. You just have to give it time.

That’s a thesis that’s certainly played out. And with spending trends recently pointing very distinctly toward e-commerce continuing to take a much greater share of consumers’ overall spend (growing at a double-digit rate this Thanksgiving season relative to brick-and-mortar, which grew between 3% and 4%), then Shopify remains a buy. It’s as simple as that.

Boyd Group

In the past, I’ve touted Boyd Group (TSX:BYD) as a pure-play growth stock worth buying, in part, due to its rather consistent and stable upward trajectory.

As you’ll note in the stock chart above, that growth trajectory has recently been broken. In fact, this is a stock that now looks like a laggard, and it has been for almost two years straight.

Now, that’s not to say Boyd group can’t get back to its winning ways. Indeed, I’d argue investors should zoom out on this chart to see how meaningful Boyd’s growth has been over the long term.

I think the key to this company’s future growth potential comes down to organic growth. Deal flow for new acquisitions has slowed, with Boyd growing mostly via acquisition in the autobody space. However, I think the company’s existing square footage and its prominent market share in key areas provide the sort of pricing power that should be supported by aging vehicles on the roads.

As more of us look to keep our vehicles longer, we’re going to need to get them fixed. And we’re going to do that by visiting a Boyd location (under one of its various banners in North America), as this is the go-to company to consider.

Fool contributor Chris MacDonald has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Shopify. The Motley Fool has a disclosure policy.

More on Investing

dividends grow over time
Stocks for Beginners

2 TSX Giants to Buy for the Next 20 Years

Two TSX giants can make holding for 20 years feel simpler by combining steady cash flow with a hedge against…

Read more »

An investor uses a tablet
Investing

Here Are My Top Stocks to Buy for 2026

These Canadian stocks are likely to benefit from strong demand tailwinds and are likely to maintain momentum in 2026 and…

Read more »

Investor reading the newspaper
Dividend Stocks

In a Hot Market, the Undervalued Canadian Stocks to Buy Now

In a hot market, investors can still selectively invest in undervalued stocks to better protect their capital and growth their…

Read more »

jar with coins and plant
Investing

Transform Your TFSA: Build the Ultimate Canadian Dividend Portfolio

Both of these Vanguard ETFs pay monthly and target dividend-paying Canadian stocks.

Read more »

tsx today
Stock Market

TSX Today: What to Watch for in Stocks on Monday, January 19

The TSX ended last week at a new all-time high on energy-led gains as investors today focus on record metals…

Read more »

man looks surprised at investment growth
Investing

My Biggest Investing Regret in 2025 Was Not Buying This Stock

Not buying this top-performing TSX stock was one of my biggest regrets in 2025. Here's why it could continue to…

Read more »

dividend stocks are a good way to earn passive income
Tech Stocks

Undervalued Canadian Stocks to Buy Now

Take a look at two undervalued Canadian stocks that are likely to provide strong shareholder returns in the next few…

Read more »

open vault at bank
Bank Stocks

What to Know About Canadian Banks Stocks for 2026

Canadian big bank stocks are lower-risk options in 2026 amid heightened geopolitical risks and continuing trade tensions.

Read more »