Growth stocks have gotten crushed across 2022's trading. A combination of factors including rising interest rates, high inflation, weak economic performance, and geopolitical instability have driven huge sell-offs for the market at large, and company's with forward-looking valuations have generally been hit even harder. 

The technology-heavy Nasdaq Composite index is now down roughly 32% across this year's trading, and many growth-dependent stocks are down even more from recent highs. While it's possible that continued macroeconomic pressures could lead to more market turbulence in the near term, the big sell-offs are also presenting an opportunity for investors to build positions in top companies that will likely deliver strong returns over the long term. Read on for a look at two growth stocks that are worth buying today. 

1. Take-Two Interactive

Take-Two Interactive (TTWO 1.21%) is one of the world's leading developers and publishers of video games. The company is best known for its hugely successful Grand Theft Auto series, and additional franchises including NBA 2K and Red Dead Redemption combine to give it one of the strongest overall product portfolios in the industry.

Grand Theft Auto V (GTA V) in particular has been a massive hit for Take-Two. First released in 2013, the game has shipped nearly 170 million copies and managed to keep players engaged with its highly profitable online mode. The combination of the game's strong core experience, releasing the game across multiple generations of platforms, and downloadable content updates have helped make GTA V the most profitable media title in history, and it's likely that the series will remain enormously popular through the next decade and beyond.

Take-Two is gearing up to release the next mainline entry in the GTA franchise. Grand Theft Auto VI has the potential to be another massive cash generator with a fantastically long product life cycle, and it could power big gains for Take-Two stock.

In conjunction with pullbacks for the broader market, Take-Two stock has slipped roughly 39% year to date and now trades down roughly 49% from the peak valuation level that it reached in February 2021. With the company's existing product portfolio already looking quite strong and the next entry in the Grand Theft Auto series coming down the pipeline, I think investors should take advantage of the share-price pullback and build a position in one of the best companies in the gaming industry.

2. Fiverr International

Fiverr International (FVRR 0.12%) operates a platform that helps connect freelance workers with people who are looking to hire for labor services. The company's business was skyrocketing when pandemic-driven work-from-home and social distancing conditions disrupted workflows and led to surging demand for freelance labor, but it's seen growth taper off as pandemic tailwinds have waned and macroeconomic conditions have worsened.

At its peak, Fiverr traded at a highly growth-dependent valuation, and its market cap has seen huge compression as growth has decelerated and investors have become increasingly risk averse. The company's share price is now down roughly 73% year to date and 91% from its high. 

After posting roughly 60% year-over-year sales growth in last year's second quarter, Fiverr's revenue grew only 13% in this year's Q2. With its most recent quarterly report, the company also lowered its midpoint annual revenue growth target from 19.5% to 13%. On the other hand, moves to reduce expenses also resulted in the company increasing its midpoint adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) target from $13.5 million to $20.5 million.

Facing macroeconomic pressures, slowing demand from small- and medium-sized businesses resulted in weaker-than-expected sales for Fiverr in the second quarter and a revised sales outlook for the year. But the company's move to cut expenses in favor of boosting profitability in the near term looks like the right play.

The long-term growth outlook for freelance labor and the gig economy remains promising, and Fiverr anticipates returning to spending more to drive revenue expansion once the payoffs for doing so and overall economic backdrop become more favorable.

Fiverr is a category-leading player in the gig-labor marketplace niche, and it still has huge growth potential despite headwinds dampening its performance outlook in the near term. With sell-offs pushing its market cap down to roughly $1.1 billion and the company valued at roughly 3.4 times this year's expected sales, long-term investors could see very strong returns from the stock at today's prices.