It's been a pretty up-and-down period for investors lately, but even with concerns about the surge of the delta variant worldwide, global spikes in inflation, and whispers of another crash, the market has still managed to continue hitting fresh record highs. While some stocks have fallen from the peaks they realized in the earlier days of the pandemic, investors are getting used to shares of their favorite companies trading at nosebleed valuations.

But even in today's particularly expensive market, there are still bargains to be found. Today, we're going to look at two top stocks that have seen shares retreat in recent months, but which still present fantastic opportunities for long-term investors searching for catalysts for ongoing portfolio growth.

Let's dive right in.

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Image source: Getty Images.

1. Teladoc

Teladoc (TDOC 0.26%) is one of my favorite healthcare companies for long-term investors, and it's one I write about often. The company controls a massive market share of the fast-growing field of telemedicine and is by far the most established player in this booming industry.

The company had a substantial track record of consecutive years of solid revenue growth pre-pandemic, and it has extended its streak with the spike in demand for telehealth solutions during the pandemic. Given Teladoc's dominant position in the telemedicine industry and the burgeoning need for quality virtual services across the healthcare specrum, the company poses a durable investment opportunity with plenty of growth potential left.

Some investors have shied away from Teladoc in recent months as global economies have reopened, and its shares are trading down about 30% from January levels. However, one could argue that the stock has retreated to a far more reasonable valuation compared to its pandemic high, particularly given the fact that its price-to-sales ratio is about 14.

And Teladoc continues to deliver exceptional revenue and business growth quarter after quarter. In its most recent quarter, its paid memberships in the U.S. alone surpassed the 52 million mark, while total visits on its platform were 28% higher than in the year-ago period. Teladoc's second-quarter revenue also popped year over year by a robust 109%. Revenue during the first six months of 2021 marked a 127% uptick from the same period in 2020, a sign that its ability to deliver strong growth numbers isn't limited to the hyped-up demand of the pandemic era.

Shares of Teladoc may not be in for an explosive hike anytime soon. But as the world continues to become increasingly virtual and the company deepens its foothold within the high-growth digital healthcare industry, the stock is also likely to see some impressive gains in the coming years. Even with a share-price retraction in recent months, Teladoc is still trading up by more than 700% from just five years ago. Investors searching for a bargain stock that could fuel long-term, sustainable returns should take a second look at Teladoc.

2. Pinterest

Social media stock Pinterest (PINS 0.34%) is another popular pandemic play that has seen shares decline in recent months. The stock is down approximately 20% year to date, trading at about $50 per share.

In the second quarter, the company's global average revenue per user surged 89% compared to the year-ago quarter, while its overall revenue increased by a whopping 125% year over year. Meanwhile, its global monthly active users jumped 9% from the year-ago period. The company also has a cash-rich balance sheet, with cash and cash equivalents of about $1 billion compared to just $237.4 million in total current liabilities as of the end of the second quarter.

Pinterest has a unique appeal that sets it apart from the average social media stock. Its user-friendly image search and sharing functionalities have made it a popular choice with consumers around the world looking for everything from fashion inspiration to recipe ideas.

At the same time, Pinterest is increasingly becoming a key advertising tool for brands of all sizes, from household names to small boutiques. This can help it capitalize on the growth of another booming industry -- the world of e-commerce.

As always, share price alone is never an indicator of a good or a bad stock. While fickle investor sentiment has brought down Pinterest stock in the short term, its long-term growth trajectory is likely to translate to notable future gains for buy-and-hold investors. It's also worth noting that Pinterest is still trading more than 60% higher than just one year ago. Long-term investors who buy the stock now and hold it for years can benefit from its considerable runway for growth.