High inflation and rising interest rates have dampened investor sentiment, setting in motion a sharp decline in the stock market. During that downturn, HubSpot (HUBS -3.39%) and Global-e Online (GLBE -4.42%) have seen their share prices plunge 68% and 76%, respectively, leaving both stocks near 52-week lows.

However, nearly every Wall Street analyst following the companies sees that as a buying opportunity. In fact, the lowest price target on HubSpot is $320 per share, which implies 11% upside from its current price, and 24 out of 29 analysts recommend buying the stock. Similarly, the lowest price target on Global-e is $27 per share, which implies 31% upside for its current price, and eight out of nine analysts recommend buying right now.

Of course, short-term price targets make for a poor investment thesis, but the overwhelmingly bullish outlook on Wall Street is still noteworthy. Here's why these growth stocks are worthwhile long-term investments.

HubSpot: The second-best global software company

HubSpot specializes in customer relationship management (CRM). Its platform includes productivity software for marketing, sales, and customer service, as well as solutions for content management, data management, and payments. Those tools help businesses attract visitors with personalized web experiences, convert visitors into buyers with effective sales support, and maintain those buyer relationships with delightful customer service.

HubSpot targets small- and medium-sized businesses (SMBs), an underserved segment of the CRM industry, and its freemium pricing strategy and broad CRM suite have propelled the company to the top of the market. According to research company G2, HubSpot is the CRM leader in the small business niche, and it ranks as the second-best global software company in 2022 based on market presence and user satisfaction.

HubSpot reported strong financial results in the third quarter, despite the tough economic climate. Revenue climbed 31% to $444 million and non-GAAP earnings climbed 38% to $0.69 per diluted share.

Looking ahead, HubSpot is well positioned for future growth. The company puts its addressable market at $72 billion by 2027, and its track record for continuous product innovation should keep HubSpot on the leading edge of the CRM industry. For instance, the company has added a significant number of commerce capabilities to its platform since launching native payments last year.

With that in mind, shares currently trade at 8.5 times sales, a bargain compared to the three-year average of 17.3 times sales. That makes today a good time to buy this growth stock.

Global-e Online: Cross-border e-commerce made easy

Growing a business in a domestic market is hard enough, but expanding into international markets can be very difficult. Merchants have to tackle different languages, currencies, and consumer preferences, and they have to navigate legal complexities like taxes and customs. That is where Global-e can make a difference.

Global-e helps merchants optimize their digital storefronts for international markets. Its platform localizes details like language, currency, and payment options, and it connects sellers with shipping carriers, provides after-sale support, and handles the calculation and remittance of import duties and foreign taxes. In a nutshell, Global-e simplifies cross-border commerce in over 200 destination markets around the world, helping merchants better connect with international buyers. That ultimately results in higher conversion rates.

Global-e is growing like wildfire. Revenue soared 79% to $106 million in the third quarter, a particularly impressive metric given the state of the economy. That said, Global-e is still losing money -- it reported a GAAP loss of $0.41 per share in the third quarter -- and management lowered fourth-quarter guidance due to unfavorable foreign exchange rates.

Fortunately, those headwinds are temporary, and the long-term investment thesis is still sound. Cross-border e-commerce sales are expected to grow at nearly 26% per year to reach $5.6 trillion by 2030, according to Grand View Research. That puts Global-e in front of a massive market opportunity, and the company has several tailwinds working in its favor. Most notably, Global-e is the exclusive third-party provider of cross-border solutions to Shopify merchants, and Shopify is the most popular e-commerce software on the market.

Currently, shares trade at 8.7 times sales, a discounted compared to the average of 23.9 times since Global-e went public in early 2021. That creates an attractive buying opportunity for long-term investors.