With the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) hovering near a seven-year high, it has become increasingly difficult to identify stocks that are trading at reasonable prices and that are worth your money.
While that certainly holds true with a number of Australia's blue-chip offerings, there are a number of companies around the middle or lower end of the board that appear to be fantastic opportunities at today's prices.
Here are four companies that you could consider buying today, or at least deserve a position on your long-term watchlist.
oOh!Media Ltd (ASX: OML); and APN Outdoor Group Ltd (ASX: APO)
oOh!Media and APN Outdoor Group are two of Australia's leading out-of-home advertisers which both listed on the Australian Securities Exchange late last year. Since their debuts, the pair have risen 27% and 20% respectively, heavily outpacing the ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) in that time.
Despite their solid performances, there are reasons to suggest there are further gains in store for investors who are in it for the long term. Both companies offer advertising on billboards and at sites such as shopping centres and airports. As these billboards become increasingly digitalised, oOh!Media and APN Outdoor will be able to offer the same advertising space to numerous advertisers, whilst also allowing them to charge based on the time of day their ads are shown.
oOh!Media's shares are currently trading at $2.40 on a forecast price-earnings ratio (P/E) of roughly 21x while APN Outdoor's shares are currently priced at $3.31 on a forecast P/E of roughly 25x.
XERO FPO NZ (ASX: XRO)
There has been plenty of market hype about the accounting software providers lately, mainly due to the anticipated public float of Myob Group Ltd's (ASX: MYO) shares. But while investors have been focused on the established player in the industry, many have disregarded the growing force that is Xero.
Xero is a New Zealand-based group which focuses solely on cloud-based accounting systems. Indeed, it has gobbled up market share in its home land while it is quickly gaining dominance in Australia, the U.S. and the U.K. as well.
Indeed, some investors will be deterred by the fact that the company is yet to make a profit, yet already boasts a market capitalisation of roughly $2.6 billion, according to Google Finance. That compares to MYOB which is already well established in the market.
While that is certainly a concern for traders with a short-term focus, long-term investors should take solace from the fact the company is pumping capital into marketing and research which should better ensure excellent returns in the long run.
Nearmap Ltd (ASX: NEA)
For those who don't remember, Nearmap was the story-stock of 2013. Over the 12-month period, the small-cap superstar skyrocketed more than 870% from 5.6 cents to 54.5 cents, before rising as high as 83.5 cents in November 2014. While the fundamentals have not changed, the shares have retreated, giving Foolish investors another great opportunity to buy.
Nearmap is a company that provides ultra-high definition aerial photographs of towns and structures which are proving incredibly useful across a range of industries, including construction, solar and even insurance. The beauty is, it can continue expanding its suite of products to new industries at very little cost.
While it has already proven its worth in the Australian market, it is also excelling in its expansion into the much larger U.S. market. Of course, international expansion does introduce new risks, but also plenty of promise for investors willing to hold on for the long haul. The shares are currently trading at 53.5 cents, down 36% from their November high.
