Are you looking for growth stocks? You don’t have to look far. In fact, there are growth stocks continuing to surge in the market today that investors continue to ignore. Why? Because they believe the work is already done. They missed out. But let me tell you, in the case of these three growth stocks, they’re just getting warmed up.
goeasy
First up, goeasy (TSX:GSY) shares have climbed an incredible amount over the last few years. Shares are currently up by 97%, hitting 52-week highs. Furthermore, the company continues to climb back towards its all-time high, hit back in the pandemic.
goeasy stock is a Canadian financial services company that specializes in non-prime leasing and lending. It provides personal loans, instalment loans, and secured savings loans to individuals who may have difficulty accessing credit from traditional lenders due to factors such as poor credit history or limited credit experience. Furthermore, it offers easyhome lease-to-own products, including furniture, appliances, electronics, and other household items. Customers can lease these items with the option to purchase them at the end of the lease term.
Yet despite the solid growth strategy and more to come, the company continues to trade in value territory. Shares of goeasy stock have traded at just 12.55 times earnings over the last year, with a price-to-book ratio of just 2.49. Furthermore, the company offers a dividend yield of 2.58%, which is higher than its five-year average of 2.37%. Overall, it’s a strong stock that will only get stronger.
Constellation Software
Another company for those who have a bit of cash to spend is Constellation Software (TSX:CSU). CSU stock is just one of those companies that cannot be stopped. Despite being a tech stock, the company has brought in more and more cash from its solid acquisition strategy. Even just this year, CSU stock has risen by 36%.
CSU stock operates as a diversified provider of software and services to a variety of industries and sectors worldwide. The company follows a decentralized business model, where it acquires, manages, and builds vertical market software businesses. These businesses typically serve niche markets with specialized software solutions tailored to specific industries or sectors. It has a well-defined strategy of acquiring profitable businesses with strong management teams and niche market positions. It typically seeks out businesses that have a history of stable cash flows and recurring revenue streams.
In this case, the stock doesn’t look quite so valuable. After all, it trades at 96 times earnings in the last year, with a price-to-book ratio of 29. However, that’s because investors have realized just how valuable the company is on a long-term basis. So, with shares continuing to climb, this is a solid base for any portfolio.
Bottom line
Whether you want to spend a few hundred bucks or a few thousand, these two growth stocks are certainly the two I would consider first and foremost. Each has demonstrated a strong growth trajectory that isn’t slowing down. What’s more, they’ve been on the market for decades already, making them easy growth stocks to buy and hold forever.
