2 growth stocks poised to skyrocket in 2026 and beyond

Growth stocks have the potential to grow faster than the broader sector, which often translates into outsized long-term returns. Given this higher growth potential, investors are generally willing to pay a premium for these companies, which can drive up their valuations. However, because their business models often evolve and their stock prices can be very sensitive to market sentiment and economic conditions, growth stocks tend to be more volatile. As a result, they are generally better suited to investors with a higher risk tolerance.

With that in mind, let’s take a look at two growth stocks that could deliver superior returns in the coming years.

Shopify

Shopify (TSX:SHOP), a leading provider of Internet infrastructure for commerce, is my top growth pick. The company recently delivered strong fourth-quarter results, with gross merchandise value (GMV) rising 31.1% year-over-year to $123.8 billion – surpassing the $100 billion milestone in the first quarter. Turnover and operating profit increased by 30.6% and 35.7% respectively. Supported by disciplined workforce management, Shopify was able to grow its operating margin by 70 basis points to 17.2%. The company also generated $715 million in free cash flow, up 17% year over year, although free cash flow margin fell 220 basis points to 19.5%.

Looking ahead, the continued adoption of omnichannel commerce remains a powerful long-term tailwind. Shopify is investing in innovative, integrated solutions, including AI-powered tools, as it expands its payments platform into new markets and grows its presence in both direct-to-consumer (D2C) and business-to-business (B2B) segments. These initiatives could further strengthen the country’s competitive position and support sustainable growth.

For the first quarter of 2026, management has targeted revenue growth in the low range of 30% and gross profit growth in the high range of 20%. Free cash flow margins are expected to end up in the low to mid teens, down slightly from the prior year quarter. Despite strong fundamentals and growth prospects, Shopify is trading more than 31% below its 52-week high, which could provide an attractive entry point for investors with a higher risk tolerance.

5N Plus

Another growth stock that could deliver strong performance in 2026 is 5N plus (TSX:VNP), which has already delivered an impressive 65% return this year. Investor optimism has been fueled by the semiconductor industry’s expansion amid the AI ​​boom, rising demand for terrestrial renewable energy and space-based solar markets, and the company’s strategic growth initiatives.

Last month, 5N Plus was awarded an $18.1 million grant from the U.S. government to expand and improve germanium recycling and refining capabilities at its St. George, Utah plant. Over the next 48 months, the funding will support efforts to recover germanium from industrial residues and mining byproducts, strengthen supply chains for optics and solar germanium crystals, and meet growing demand for germanium-based technology applications in the United States.

In addition, the company recently announced plans to increase solar cell production capacity at AZUR SPACE Solar Power GmbH by 25% this year. Amid the accelerated adoption of AI and increasing global connectivity needs, customers are actively securing high-quality components for future satellite programs and space missions, further expanding 5N Plus’ addressable market.

Following the recent rally, the stock’s valuation has risen, with forward twelve-month forward price-to-sales and price-to-earnings ratios of 4.4 and 34.1, respectively. While these levels may seem high, the company’s robust growth prospects and solid fundamentals could support continued momentum over the longer term.