Though some parts of the market are expensive right now, others are full of opportunities. So if you've got $1,000 (or any amount of money sitting around), some great stocks are available to purchase at attractive prices. Here are three of them.

Adobe

Even though its creative design product suite is deployed by almost every company, software giant Adobe (ADBE 0.68%) is often overlooked by investors. Additionally, it's developing a generative artificial intelligence (AI) copilot that can assist its users in bringing their designs to fruition.

Adobe is also a poster child for financial consistency, and its latest report was no different. In its fiscal 2023 third quarter, which ended Sept. 1, revenue rose 10% year over year and  earnings per share increased by about 27% to $3.07.

Although Adobe doesn't pay a dividend, it has a history of repurchasing shares, and bought back 2.1 million in fiscal Q3 -- about 0.5% of shares outstanding. With the stock priced at 34 times forward earnings, it trades at a bit of a premium. But compared to its five-year average price-to-earnings ratio of 48.7, it's valued at a significant discount.

Adobe is still trying to close its planned $20 billion acquisition of Figma. Currently, regulators have the deal under a microscope, as multiple entities are concerned about it. But regardless of what happens with the deal, Adobe will still make for a fine investment, and it remains a top stock to buy today.

MercadoLibre

MercadoLibre (MELI 0.04%) has often been called the Amazon of Latin America, but it's much more than that. While MercadoLibre has the e-commerce platform and has built its own logistics network, it also has a digital payment platform and a consumer lending division.

Similar to Adobe, MercadoLibre posted consistently strong growth. In Q2, net revenues were up 57% on a constant-currency basis and 32% if assessed on a U.S. dollar basis. While fintech provided it with revenue growth over the past two years, its commerce division has taken over in 2023. Commerce grew revenue by 65%, while fintech was up 48%. But perhaps the most important metric for MercadoLibre is its growing profitability.

Because MercadoLibre saw opportunities in fintech and commerce, it became unprofitable for a time to seize them. Now that it largely accomplished its mission, profits are returning. In Q2, MercadoLibre's operating margin rose to 16.3% from 9.6% in the prior-year period, which powered its net profit margin to 7.7%. These improvements allowed MercadoLibre's earnings to explode from $2.43 per share last year to $5.22 per share this year, a 115% increase.

Despite that impressive growth, MercadoLibre's stock still trades at a lower price-to-sales ratio than it has over the past decade.

MELI Revenue (Quarterly YoY Growth) Chart

MELI Revenue (Quarterly YoY Growth) data by YCharts.

MercadoLibre's stock has plenty of upside potential, and now that management has flipped the profitability switch, investors should start seeing even more profits. However, the stock on a per-share basis is quite pricey at more than $1,300, so you'll need to use a brokerage with fractional shares if you've only got $1,000 available. If your brokerage has this perk, MercadoLibre is a fantastic value.

PayPal

PayPal (PYPL 2.65%) isn't in the same category as MercadoLibre or Adobe. It has had some serious ups and downs with its digital payment product. However, outgoing CEO Dan Schulman has righted the ship and put PayPal on course to improve its profits consistently.

While the business is still growing at a below-market-average rate (revenue rose 7% in Q2 and is projected to grow by 8% in Q3), its profit growth has been astounding. In Q2, its bottom line shifted from a $0.29 per share loss to a $0.92 per share profit, and management expects a $3.49 per share profit in 2023 compared to just $2.09 per share last year. PayPal carved out these gains by becoming more efficient in nearly every facet of the business. Its operating margin improved from 11% in the prior-year period to 16% in Q2. 

Despite these improvements, the stock lost about 10% in 2023 even as the broader market has been gaining. As a result, the stock has become absurdly cheap.

PYPL PE Ratio (Forward) Chart

PYPL PE Ratio (Forward) data by YCharts.

PayPal has entered value stock territory, trading at just 18 times trailing earnings and 13 times forward earnings. Incoming CEO Alex Chriss could ignite a new wave of growth that may make PayPal one of the top stocks to own if it can boost its revenue.

PayPal makes a great stock to buy right now if you're looking to balance out the growth of Adobe and MercadoLibre.