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:
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.

rising arrow with flames

Source: Getty Images

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

Piggy bank with word TFSA for tax-free savings accounts.
Dividend Stocks

Use a TFSA to Earn $500 a Month With No Tax

Earning $500 a month tax-free through the TFSA is a realistic goal for many Canadians.

Read more »

dividends can compound over time
Dividend Stocks

1 Magnificent TSX Dividend Stock Down 25% to Buy and Hold for Decades

This TSX dividend giant could reward patient investors with decades of growth and income.

Read more »

Business success of growth metaverse finance and investment profit graph concept or development analysis progress chart on financial market achievement strategy background with increase hand diagram
Dividend Stocks

5 TSX Dividend Stocks to Hold for the Next Decade

Are you looking for dividend stocks that can last a decade or more to come? These are five top TSX…

Read more »

Man holds Canadian dollars in differing amounts
Dividend Stocks

5 Canadian Stocks I’d Buy If I Wanted Instant Income

These Canadian stocks have durable payout history and are supported by fundamentally strong businesses with resilient earnings.

Read more »

top TSX stocks to buy
Dividend Stocks

3 Canadian Stocks That Could Outperform if Growth Stays Soft

Soft growth can still reward investors, if you own businesses with durable demand, solid finances, and income while you wait.

Read more »

engineer at wind farm
Dividend Stocks

TFSA Investors: 1 Top Canadian Stock Worth Buying With $7,000

An outperforming, defensive dividend stock is worth buying with $7,000 for a TFSA portfolio.

Read more »

ETF stands for Exchange Traded Fund
Dividend Stocks

The #1 Index Fund I’d Hold in My Portfolio Forever — No Hesitation

Anchor your portfolio forever with the XDIV ETF – a low-cost ETF that delivered 13.6% in annual returns and pays…

Read more »

ETF is short for exchange traded fund, a popular investment choice for Canadians
Investing

Why I’m Buying This ETF Like There’s No Tomorrow and Never Selling

The Vanguard FTSE Emerging Markets Index ETF (TSX:VEE) is a great value.

Read more »