- Investment in growth stocks can help investors in managing a healthy financial profile that, in turn, would help in combating inflation.
- A Canadian company posted a YoY growth of 145.7 per cent in its net earnings in Q3 FY2021.
- A stock listed on TSX delivered a return of nearly 124 per cent in the last 12 months
Investors generally seek for stocks that can multiply the invested money significantly in the future. For instance, some early investors of the e-commerce industry are known to have drawn notable returns over the past few years.
Investment in growth stocks can also help investors in managing healthy financial profile that, in turn, would help in combating inflation.
On that note, let us explore three TSX-listed future stocks to buy before New Year comes.
1. Descartes Systems Group Inc (TSX: DSG)
Descartes Systems Group Inc is known to offer its services to the shipping industry through its global logistics network.
The Waterloo, Ontario-based software provider company, on November 15, said that Japanese tech firm Audio-Technica is utilizing its foreign trade zone solutions to minimize costs on custom entries and boost custom clearance.
3 Canadian future stocks to explore before New Year comes a-knocking
Earlier this month, on November 9, Descartes Systems also reported that landscape materials firm Pioneer Landscape Centres is leveraging its route planning solutions to optimize commercial and residential distributions.
As for its stock performance, DSG expanded by roughly 51 per cent in the last six months and delivered a return of almost 43 per cent year-to-date (YTD).
The software stock closed at C$ 106.33 apiece on Friday, November 26, slightly down from its previous close.
2. Shopify Inc (TSX: SHOP)
E-commerce giant Shopify saw its stock jump by more than 19 per cent in the last one month and spiked by nearly 50 per cent in the past 12 months. It held a market capitalization of C$ 227 billion and a return on equity (ROE) of 39.04 per cent at the time of writing.
On the financial front, Shopify saw its revenue increase by 46 per cent year-over-year (YoY) to US$ 1.12 billion in the third quarter of fiscal 2021.
Its subscription solutions revenue marked a YoY growth of 37 per cent to US$ 336.2 million in this quarter. On the other hand, its merchant solutions revenue also surged by 51 per cent YoY to US$ 787.5 million in Q3 FY2021, mainly due to increase in gross merchandise revenue.
Earlier this year, on August 30, Shopify integrated with artificial intelligence (AI) firm FOBI AI Inc, which provides real time data analytics powered by artificial intelligence to enhance customer activation and engagement.
This integration is said to simplify data aggregation and insights for retailers across different data sources, which would help them in improving retail operations.
3. Trisura Group Ltd (TSX: TSU)
Trisura Group Ltd is a Toronto-based financial service company that provides speciality property and casualty insurance in the US and Canada.
The insurance provider saw a premium growth of 68.9 per cent YoY in the third quarter of FY2021, reportedly due to its expanded market share and maturation of its platform and new products.
The company posted a YoY growth of 145.7 per cent YoY in its net earnings to C$ 16.1 million in the latest quarter. This robust increase is said to have been due to the solid underwriting in Canada and rising fee income from the US combined with proper asset liability match in its reinsurance business.
Trisura stock, on the other hand, climbed by more than 105 per cent on a year-to-date (YTD) basis and delivered a return of nearly 124 per cent in the last 12 months. Its stock closed at C$ 45.68 apiece on November 26, down by about one per cent.
Image source: © 2021 Kalkine Media Inc
With the year coming to an end in a little over a month, many investors are looking into investing options that can help them get a head start in the new year of 2022.
For this goal, investors can explore companies that are focused on reinvesting their profits on business and operational expansion, thereby, giving themselves a stronger chance of growth in the future.