Just because the stock market is near all-time highs doesn’t mean all stocks are expensive. Sure, you might refer to the stock market as a thing, but it’s really a collection of thousands of companies — each with its own story. You could say that Wall Street isn’t a stock market, but a market of stocks.

In other words, there is always a deal somewhere. You just have to know where to look.

Here are two growth stocks trading at compelling prices. One trades near all-time highs, and the other has fallen 65% from its peak. You can own shares of both companies for less than $500 today.

Here is the story behind each one.

1. An e-commerce giant trading near all-time highs

E-commerce and cloud computing giant Amazon (NASDAQ: AMZN) is already a historically lucrative investment. Yet, today, the stock has more to offer despite Amazon’s nearly $2 trillion market cap. Amazon is the top U.S. online retailer with 38% market share, and the top global cloud platform with 31%. The great thing is that both businesses still have more growth ahead. E-commerce is still just 16% of total retail in the U.S., and Amazon still has a long road ahead in underpenetrated niches like grocery and pharmacy. Meanwhile, the global cloud market is poised to grow due to artificial intelligence (AI) and digitalization, as companies shift from on-premise computer systems to the cloud.

Analysts believe Amazon can grow earnings by an average of 27% annually for the next three to five years. Today, the stock trades at 39 times Amazon’s estimated 2024 earnings. That forward price-to-earnings is an attractive price point for a company growing its bottom line this fast. Additionally, suppose you value the stock by its operating cash flow, which gives investors a look at Amazon’s profits before it reinvests in the business. In that case, the valuation is near a decade low.

Amazon stock is trading within shouting distance of all-time highs. But fundamentally speaking, long-term investors still have an opportunity to acquire a wonderful business at an attractive price today.

2. This energy drink brand has fallen from its lofty perch

Energy drink brand Monster is a famously successful stock, but Celsius (NASDAQ: CELH), an up-and-coming energy drink brand, has emerged to challenge Monster’s market share and stock returns. Celsius has exploded in popularity over the past five years, resulting in more than 6,000% investment returns at the stock’s peak. However, the stock has fallen 65% from those highs, and now investors must decide whether the company’s fundamentals can lift Celsius stock back to its former glory.

Story continues

Ultimately, Celsius enjoyed rampant growth during the pandemic’s height. Then PepsiCo invested in the company and helped Celsius expand its distribution, further turbo-charging growth. However, this growth spurt has ended, and revenue growth slowed sharply this year, explaining the stock’s struggles.

It’s fair that the stock would earn a lower valuation as growth slows, but Celsius could now be approaching a point that interests investors again. The company is still taking market share — Celsius grew sales by 23% year over year in the second quarter in an industry growing at a low-single-digit rate. Celsius is highly profitable, and analysts believe it will grow its earnings by an average of 16% annually for the next three to five years.

The company’s stock trades at a forward P/E of 40 today. That valuation and growth rate produce roughly the same price/earnings-to-growth (PEG) ratio Monster trades at today. Yet, Celsius is the company taking market share in the U.S., and it has a tremendous opportunity in international markets.

The stock’s decline has made Celsius an attractive long-term idea worth considering today. Still, it’s impossible to call a bottom on a declining stock, so investors who believe in Celsius’ long-term potential should buy shares slowly to avoid jumping in too aggressively.

Should you invest $1,000 in Amazon right now?

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John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Justin Pope has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon, Celsius, and Monster Beverage. The Motley Fool has a disclosure policy.

Have $500? 2 Absurdly Cheap Stocks Long-Term Investors Should Buy Right Now was originally published by The Motley Fool