3 TSX Growth Stocks With Strong Insider Support

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Post on Oct 21, 2024

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3 TSX Growth Stocks With Strong Insider Support

So, you're looking for some growth stocks to add to your portfolio, but you want to be sure they're backed by solid fundamentals. One way to do that is to look at insider buying activity. When company insiders are putting their own money into the stock, it's a good sign that they believe in the future of the business.

Today, we're going to look at three TSX growth stocks that have recently seen significant insider buying. These companies are all poised for strong growth in the years to come, and insider support is just icing on the cake.

1. Shopify (SHOP)

Shopify is a leading e-commerce platform that helps businesses of all sizes set up and manage their online stores. The company has been on a tear in recent years, with revenue growing at a rapid pace. Shopify has been a darling of investors, and for good reason. They've been innovating constantly, offering a whole suite of tools for online businesses.

One reason for the optimism surrounding Shopify is the growth of e-commerce. The pandemic accelerated the shift to online shopping, and this trend is expected to continue in the coming years. But what really gets me excited is that Shopify is building a full-fledged ecosystem for entrepreneurs. They've got payments, logistics, marketing, and more. It's like a one-stop shop for all your online business needs.

Insider Support: In recent months, several Shopify insiders have been buying shares of the company, showing confidence in its future prospects. This recent insider buying, paired with the long-term growth outlook for e-commerce, makes SHOP a great candidate for your growth portfolio.

2. Lightspeed Commerce (LSPD)

Lightspeed is another company that helps businesses sell online and in-store. The company provides point-of-sale (POS) systems, inventory management, and other tools for retailers.

Lightspeed has been growing quickly, thanks to its strong focus on the restaurant and retail sectors. They're really pushing the boundaries on what a POS system can be. They've got some really cool features, like online ordering, loyalty programs, and even analytics that can help businesses make better decisions.

Insider Support: Insiders at Lightspeed have been buying shares of the company, signaling their belief in its growth trajectory.

3. Docebo (DCBO)

Docebo is a leading provider of cloud-based learning management systems (LMS). The company helps businesses train their employees and customers online. Docebo has been seeing strong growth in recent years, as more and more companies adopt cloud-based learning solutions. The demand for online training is only increasing as we enter the age of remote work and digital transformation.

Docebo's platform is super flexible and customizable, which has made it a hit with businesses of all sizes. They're really leading the charge in the learning space, and they're constantly innovating. Docebo's commitment to research and development is definitely something to keep an eye on.

Insider Support: Docebo insiders have been active buyers of the stock, showing their confidence in the company's future.

Disclaimer: This is not financial advice. Always do your own research before investing.

Final Thoughts

These are just a few examples of TSX growth stocks that have strong insider support. While past performance isn't a guarantee of future results, insider buying activity can provide valuable insights into a company's future prospects.

Investing in growth stocks can be risky, but it can also be highly rewarding. When you're looking for growth stocks, make sure you do your research and understand the company's business model and competitive landscape. Insider support is a good signal, but it's just one piece of the puzzle.