3 of the Best Growth Stocks on the TSX Today

Canadian investors have plenty of top-tier growth stocks to choose from, ones I’d argue are long-term winners. The good news for investors looking at TSX-listed growth stocks is that the rest of the world isn’t watching these companies as closely as we are. Thus, I think there’s massive potential for outperformance on top and bottom-line growth for these three names.

Here’s why I think the following three TSX stocks are worth considering as potential portfolio additions heading into the New Year.

Shopify

Shopify (TSX:SHOP) is the premier Canadian growth stock I’d argue global investors should be honing in on right now.

That’s because Shopify’s core e-commerce platform powers much of the online commerce that takes place not only in North America, but around the world. And given the company’s highly scalable model, benefitting from gross merchandise value surging over time, recent trends that point to a continued market share take from e-commerce away from traditional big box retailers are encouraging.

Valued at a still-attractive multiple (compared to where this stock has traded in years past), Shopify looks to be a solid buying opportunity at current levels. I think new all-time highs are in order for this top Canadian tech name in the year to come, despite clear macro risks that are brewing right now.

Constellation Software

A growth-by-acquisition conglomerate that’s been beaten down by the market of late, Constellation Software (TSX:CSU) is another top growth stock I think could have big upside in the year to come.

Constellation’s core business model of acquiring small and mid-sized software companies and scaling them under its umbrella has worked wonders for its share price for seemingly forever. However, investors have clearly become concerned around valuations in this sector more broadly, and Constellation Software has paid the price.

This stock still isn’t cheap (on a relative basis), after its recent decline. That said, I think the company’s status as a top blue-chip global tech player in the software sector shouldn’t be ignored, and that thesis hasn’t degraded yet. This is a top-tier growth stock, I think, that could come out of 2026 a winner.

Kinaxis

For investors looking for a Canadian growth stock with AI exposure, Kinaxis (TSX:KXS) remains one of my top picks in this space right now.

The provider of supply chain management software has continued to integrate AI within its operations and product portfolio to improve efficiencies. While order flow has improved and the company’s fundamentals remain strong, it’s also true that KXS stock has traded within a relatively tight band in recent years.

In order for this stock to break out of this trend, I’d argue that global growth expectations will need to pick up, and the company’s core growth rate will need to accelerate. At least, that’s my base case for Kinaxis heading into 2026.

So, we’ll see how this one plays out. But I think Kinaxis is certainly worth a look for investors seeking a little higher-risk (but higher-upside) pick right now.

The post 3 of the Best Growth Stocks on the TSX Today appeared first on The Motley Fool Canada.

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See the 15 Stocks #start_btn6 { background: #0e6d04 none repeat scroll 0 0; color: #fff; font-size: 1.2em; font-family: 'Montserrat', sans-serif; font-weight: 600; height: auto; line-height: 1.2em; margin: 30px 0; max-width: 350px; text-align: center; width: auto; box-shadow: 0 1px 0 rgba(0, 0, 0, 0.5), 0 1px 0 #fff inset, 0 0 2px rgba(0, 0, 0, 0.2); border-radius: 5px; } #start_btn6 a { color: #fff; display: block; padding: 20px; padding-right:1em; padding-left:1em; } #start_btn6 a:hover { background: #FFE300 none repeat scroll 0 0; color: #000; } @media (max-width: 480px) { div#start_btn6 { font-size:1.1em; max-width: 320px;} } margin_bottom_5 { margin-bottom:5px; } margin_top_10 { margin-top:10px; }

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More reading

• 1 Dividend-Paying Tech Stock I’d Buy Before Touching Shopify
• 3 Top TSX Stocks I’d Buy for 2026 and Beyond
• Best Canadian AI Stocks to Buy Now
• The Year Ahead: Canadian Stocks With Strong Momentum for 2026
• Beyond the Tech Hype, I Think These 3 Canadian Stocks Could Crush the Market

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 recommends Constellation Software and Kinaxis. The Motley Fool has a disclosure policy.