The local market's recent sell-off has been enough to send a shiver down the spine of many. Investors around Australia have been looking at their portfolios and assessing the damage, while many others would have been selling shares and taking their profits from the table in anticipation of a full-blown market crash.
The smart investors, on the other hand, are not looking at the recent fall as a reason to tremble, but rather as an opportunity to buy shares trading at discounted prices. If you're looking for some outstanding growth stocks to put some money on, you should consider these three that are currently trading at very reasonable prices.
Carsales.Com Ltd (ASX: CRZ) has fallen more than 3% over the last week and is now trading at $11.14 per share. At first glance, the shares might still appear to be expensive with a projected P/E ratio of 27.7, but when you consider the company's growth potential, now is still a very reasonable time to buy. As more and more customers use Carsales.Com as a medium for buying and selling cars, the business' moat is widening significantly. The company's margins will only continue to improve as it gains more customers.
G8 Education Ltd (ASX: GEM) shares have soared over the last 12 months, climbing from $2.66 to their current price of $4.85 – an 82.3% return. And the good news is, there's plenty of room left for it to run further. The company has been acquiring childcare centres across Australia, yet it still only controls a small portion of the overall market, leaving plenty of room for expansion opportunities. The shares are trading at a 3.2% discount compared to last week.
Cover-More Group Ltd (ASX: CVO), which featured as my Top Stock Pick for August, is Australia's largest travel insurance company with a 46% share of the local market. Having debuted on the ASX in December, the stock quickly rose to a high of $2.50, but has since dropped a remarkable 28%, with shares now trading at just $1.80. While a high level of international travel is expected to be sustained over the coming years, Cover-More could be a perfect way to insure your portfolio right now.
