The market has been volatile lately, and it's possible that things could get worse before they get better. But that shouldn't deter you from investing. In fact, right now is an excellent time to buy some of your favorite stocks on sale, or simply invest in more great companies that can fuel long-term portfolio growth. 

If you have some extra cash to invest, here are two exceptional companies to consider. 

happy investor sitting in home office buying more stocks on mobile device

Image source: Getty Images.

1. Teladoc 

To say that Teladoc (NYSE:TDOC) has been beaten down by the market is a bit of an understatement. Shares of the company are down about 30% year-to-date, and 52% below its February all time-high. But the fact that some investors seem to have lost interest in the company, which was one of the most popular of the stay-at-home stocks, provides an opportunity for intelligent long-term investors to snag the stock at a bargain. 

The company is set to release its earnings report for the third quarter of fiscal 2021 on Oct. 27. Teladoc's share price may be lagging from its all-time high earlier this year, but its earnings reports have been excellent. In the second quarter of 2021, not only did Teladoc's revenue pop 109% year-over-year, but management said that platform visits were "28% higher than Q2 2020, in the first wave of the pandemic." Teladoc is still working to narrow its net losses after the multi-billion-dollar cash-stock acquisitions of InTouchHealth and Livongo last year, both of which significantly expanded its share of the global telehealth market. Even so, its adjusted EBITDA jumped 154% in the second quarter from the year-ago period. 

While Teladoc's share price may have dipped over the short-term, I believe it can rebound and deliver strong returns for investors in the years ahead. Why? Because the company's business is as strong as ever, and its foothold in the field of telehealth -- a market that is sustaining superior growth -- remains unchanged. According to a report by Research and Markets released earlier this month: 

The increasing prevalence of chronic diseases across the globe is one of the key factors driving the growth of the market. Furthermore, rising geriatric population and the expanding demand for home monitoring devices, are also providing a boost to the market growth. There is widespread adoption of telehealth systems in the field of cardiology, radiology and online consultation for the treatment of various medical ailments, such as diabetes, cancer and cardiovascular diseases (CVDs), that require continual medical supervision.

The report also estimates that the global telehealth industry is on track to expand at a compound annual growth rate of nearly 40% between 2021 and 2026 alone. If you want to invest in a top healthcare stock that's leading this rapidly growing market, and is trading at a discount on top of that, Teladoc is a solid contender to consider. 

2. Etsy

Shares of Etsy (NASDAQ:ETSY) are still going strong, and are trading up more than 75% from just 12 months ago. And given the company's strong position in the booming e-commerce space, which it recently bolstered by acquiring global fashion resale marketplace Depop and the "Etsy of Brazil" Elo7, there's no reason to think it can't keep delivering the robust balance sheet and share price returns investors have become accustomed to. 

In the second quarter of this year, Etsy reported that it had more than 5 million active sellers on its platform, while its active buyer base surpassed 90 million individuals, representing respective increases of 67% and 50% from the year-ago period. 

Furthermore, the company's second-quarter revenue was up 64%, and net income jumped by more than 120% year-over-year. In other words, Etsy's users, revenue, and earnings all jumped by either double or triple-digit percentages compared to the first wave of the pandemic, an impressive feat indeed. Etsy reports its third-quarter earnings in early November.

If you look at Etsy's track record, its ability to continue reporting exceptional earnings results and platform growth -- even as the world reopens and the e-commerce market becomes increasingly crowded -- isn't all that surprising. The company has increased its annual revenue and net income by respective amounts of 291% and 327% over the past five years.

Etsy is a fantastic play to invest in the high-growth e-commerce space. Its proven ability to keep diversifying its business and generating enviable shareholder returns make it a great choice to add to your buy basket before the New Year. 

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.