Two Alternative Stocks to Consider Over Shopify Today

Canadian e-commerce giant Shopify (TSX:SHOP) recently regained the title of the largest publicly traded company by market capitalization on the Toronto Stock Exchange (TSX), surpassing the Royal Bank of Canada (RBC). On August 7, 2025, Shopify’s market performance proved exhilarating for tech investors. However, by September 10, 2025, RBC reclaimed its leading position. While Shopify’s fluctuations may attract attention, some investors might find more promising opportunities within the tech sector. This article examines two alternative TSX stocks that could provide significant long-term gains.

Topicus.com: A Strong Contender

One notable alternative is Topicus.com (TSXV:TOI), a spin-off from Constellation Software. The company follows its parent’s successful model of acquiring vertical-specific software businesses that boast healthy cash flows. With a focus on diversifying its portfolio, Topicus.com targets sectors with robust technology spending, which enhances its growth potential.

At present, Topicus.com has a market capitalization of approximately $14.87 billion and trades at $180.66 per share. This represents a substantial increase of 63.02% from its 52-week low. The company strategically reinvests its free cash flow to acquire already successful software firms, establishing a reliable business model that mitigates risks in the often volatile tech landscape. For investors seeking bargains, Topicus.com presents an appealing opportunity at its current valuation.

Descartes Systems Group: Meeting Supply Chain Demands

Another strong option is the Descartes Systems Group (TSX:DSG), which has a market capitalization of about $12.74 billion. This software company specializes in providing solutions for the global shipping industry, enabling seamless communication among stakeholders. With the ongoing challenges in supply chains worldwide, Descartes’ logistics and supply chain software has become increasingly essential.

The firm operates with high recurring revenues, allowing it to maintain strong profit margins. Over the years, Descartes has consistently generated significant free cash flow, which it utilizes for strategic acquisitions. As global trade tensions elevate the demand for efficient supply chain solutions, investors in DSG stock could see substantial growth in the coming years.

While both Topicus.com and Descartes Systems Group serve as suitable alternatives to Shopify, they still have a considerable journey ahead to match RBC’s market capitalization. Shopify remains a viable option for long-term investors, but with today’s market conditions, it may be wise to consider diversifying into these promising tech stocks.

The potential for significant returns with both Topicus.com and Descartes Systems Group indicates that there are viable alternatives to Shopify for investors looking for growth in the tech sector. Allocating a portion of investment capital to these companies could provide a more balanced and potentially lucrative portfolio in the long run.