Exploring High Growth Tech Stocks In Canada September 2024

In This Article:

The Canadian market has experienced increased volatility in recent weeks, driven by concerns over a slowing economy and persistent inflation, yet overall stocks remain near record highs. In this environment, identifying high-growth tech stocks becomes crucial as they have the potential to outperform despite broader market swings.

Top 10 High Growth Tech Companies In Canada

Name

Revenue Growth

Earnings Growth

Growth Rating

Docebo

14.70%

33.96%

★★★★★☆

Constellation Software

16.17%

23.55%

★★★★★☆

HIVE Digital Technologies

54.20%

100.27%

★★★★★☆

GameSquare Holdings

38.08%

86.64%

★★★★★☆

Blackline Safety

22.54%

162.50%

★★★★★☆

Medicenna Therapeutics

62.37%

57.20%

★★★★★☆

Cineplex

7.33%

179.27%

★★★★☆☆

Sabio Holdings

12.97%

122.50%

★★★★☆☆

BlackBerry

20.61%

76.74%

★★★★★☆

Alpha Cognition

62.98%

69.54%

★★★★★☆

Click here to see the full list of 24 stocks from our TSX High Growth Tech and AI Stocks screener.

Here's a peek at a few of the choices from the screener.

Constellation Software

Simply Wall St Growth Rating: ★★★★★☆

Overview: Constellation Software Inc., along with its subsidiaries, acquires, builds, and manages vertical market software businesses across Canada, the United States, Europe, and internationally with a market cap of CA$90.84 billion.

Operations: The company generates revenue primarily from its Software & Programming segment, which amounted to $9.27 billion.

Constellation Software's revenue surged from $2.04 billion to $2.47 billion in Q2 2024, reflecting a 21% increase, while net income jumped by 72% to $177 million. The company's forecasted annual earnings growth of 23.6% outpaces the Canadian market's 15.3%, driven by strategic acquisitions and robust performance across its diverse software segments like Omegro, which serves over 15,000 customers globally. With R&D expenses at $0.42 billion in the last year, Constellation continues innovating to sustain its competitive edge in the tech sector.

TSX:CSU Earnings and Revenue Growth as at Sep 2024
TSX:CSU Earnings and Revenue Growth as at Sep 2024

Docebo

Simply Wall St Growth Rating: ★★★★★☆

Overview: Docebo Inc. operates as a learning management software company that provides an artificial intelligence (AI)-powered learning platform in North America and internationally, with a market cap of CA$1.74 billion.

Operations: The company generates revenue primarily from its educational software segment, which brought in $200.24 million. The business leverages an AI-powered learning platform to serve clients across North America and internationally.