Image source: Getty Images
Shopify (TSX:SHOP) is one of the largest e-commerce platform providers in the world and one of the top growth stocks in the Toronto Stock Exchange. Since its lows in 2022, the company has seen remarkable growth, more than tripling to current levels.
After such a rise, some investors may certainly be wary of the company’s upside potential. That said, I think more upside could be in store for investors looking for a top growth stock to buy to ride this wave of momentum higher.
Here’s more on why I think Shopify is a top Canadian growth play worth considering right now.
Strong and growing core business
Shopify generates its cash flow and earnings via transaction fees charged for businesses using its platform to conduct business as well as via software-as-a-service revenue for other services provided by the company. These cash flows have proven to be resilient and stable, allowing growth investors a…
