BlackBerry (TSX:BB)(NYSE:BB) has been a popular stock among Canadian investors for some time now. Despite this popularity, though, and some of the speculative rallies it saw last year, there are several high-quality growth stocks that have more potential than BlackBerry stock.
Not only is BlackBerry a stock that’s been facing significant headwinds lately, but for years, the value of the company has been declining. Back in the early 2010s, when BlackBerry was still a popular mobile phone maker, the stock had a market cap of more than $40 billion.
However, it soon lost much of its value and has struggled to find a way to grow again ever since.
So, with BlackBerry stock worth roughly $5 billion today and still having trouble growing and expanding its business in recent years, here are two growth stocks that could be worth more than BlackBerry by 2030.
One of the best Canadian growth stocks you can own
There are several high-quality growth stocks in Canada, and many worth buying today after the volatility we’ve seen in recent months. However, one of the best has to be goeasy (TSX:GSY), a specialty finance company.
goeasy has a roughly $2 billion market cap today, considerably lower than BlackBerry’s. But because goeasy is such an impressive stock, and because it’s still a relatively small company with years of growth potential, I wouldn’t be surprised if goeasy was worth much more than BlackBerry stock by 2030.
In just the last three years alone, goeasy has seen its revenue grow by 67%. Even more impressive, though, is that over that period, its net income grew by over 360%, thanks to its incredible margins.
The stock has been firing on all cylinders, which is why it’s one of the best growth stocks in Canada and a much better investment than BlackBerry stock today. Plus, in addition to its impressive growth, it’s managed to continue keeping its financials strong and is even increasing the dividend meaningfully.
So, while goeasy trades cheap, offering investors over 70% upside to its average analyst target price, it’s one of the best growth stocks to buy today.
A top growth stock with much more potential than BlackBerry
Another high-quality stock that has a tonne of potential to outperform BlackBerry over the coming years is Freehold Royalties (TSX:FRU). Freehold is a lower-risk energy stock that’s an excellent way for investors to gain exposure to oil and gas stocks.
As of Wednesday’s close, Freehold had a market cap of roughly $2.3 billion — a little less than half of BlackBerry’s valuation. However, despite the lower value, Freehold has a tonne of tailwinds at the same time that stocks like BlackBerry are facing severe headwinds.
Freehold already will typically see a major increase in its revenue as prices for energy are rising. However, in the current environment, with all the recent sanctions that have been put in place, there’s a tonne of potential for production to increase in North America as well, which would add even more growth potential for Freehold.
Plus, on top of all the growth potential Freehold has and the fact that it should outperform BlackBerry stock, it also provides an attractive dividend that currently offers a yield upwards of 6.3%.
Bottom line
If you’re looking for top Canadian growth stocks to buy now, I’d forget BlackBerry stock. There are plenty of investments to consider offering much more value.
