2 Stocks That Could Double by 2030

2 Stocks That Could Double by 2030

John Ballard, The Motley Fool

Tue, August 25, 2026 at 3:30 PM GMT+3 4 min read

Finding stocks that could double in value by 2030 isn't easy. The search can include many parameters, but it ultimately comes down to knowing what to look for. There are two paths: invest in companies with substantial growth ahead, or look for stocks with low price-to-earnings multiples that appear unjustified.

Shopify (NASDAQ: SHOP) and Deckers Outdoor (NYSE: DECK) fit both of these parameters. Here's why each stock has a solid chance of doubling its price by 2030.

Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »

1. Shopify

Shopify is a ubiquitous brand in e-commerce, serving millions of merchants of all sizes across geographies. In the second quarter, Shopify posted its fifth straight quarter of 30%-plus gross merchandise volume (GMV) growth, which measures the total value of transactions processed across its merchants. With an annualized GMV of $462 billion, Shopify still holds a roughly 12% share of the global e-commerce market, leaving ample runway to sustain strong revenue and GMV growth over time.

Large brands continue to move to Shopify's platform, driving a 22% year-over-year increase in subscription revenue last quarter. This will power future growth, because most of Shopify's revenue comes from merchant solutions -- lending, shipping, and other services -- that generate fees as merchants expand their business. Merchant solutions grew 37% in the quarter, reaching $2.8 billion.

Shopify trades at 78 times forward earnings, which looks expensive. But the stock has historically traded at a premium valuation due to its large, growing customer base, massive growth runway, and recurring revenue from subscriptions and other services.

Importantly, analysts expect earnings to grow about 30% annually over the next few years, which is enough to double the share price. If the business delivers on those estimates and the valuation holds near its usual range, the stock has a realistic path to doubling by 2030.

2. Deckers

Nike is still the top name in footwear, but it has been losing share in recent years -- and Deckers, the owner of HOKA, UGG, and other brands, has been a key beneficiary. While macroeconomic pressures have weighed on near-term growth, Deckers appears poised for a rebound in sales momentum.

The stock trades at just 13 times forward earnings, which is cheap for a business that was growing at a mid-teens rate just a few years ago. If improving economic conditions lift consumer spending, and the stock returns to a P/E ratio of 24 -- where it traded less than two years ago -- shares could nearly double even before factoring in further growth from the business.

Investors have punished the stock for slowing sales momentum, but this is largely attributable to macroeconomic softness, including the recent spike in gas prices and inflation. The good news is that management expects sales growth to accelerate in the second half of this year.

Despite recent headwinds, revenue rose 5.7% year over year last quarter, topping $1 billion in quarterly sales for the first time. Management expects full-year HOKA sales to grow in the low-double-digit range, which is the company's largest brand by revenue.

HOKA has great potential to expand internationally, where the brand has been growing sales faster than in the U.S. With a low P/E, Deckers has a clear setup to double by 2030 if demand strengthens and the valuation normalizes.

Should you buy stock in Shopify right now?

Before you buy stock in Shopify, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Shopify wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $429,223!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,317,883!*

Now, it's worth noting Stock Advisor's total average return is 965% — a market-crushing outperformance compared to 212% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.

See the 10 stocks »

*Stock Advisor returns as of August 25, 2026.

John Ballard has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Deckers Outdoor, Nike, and Shopify. The Motley Fool has a disclosure policy.

2 Stocks That Could Double by 2030 was originally published by The Motley Fool