Despite the market's strong run, there are still cheap stocks investors can buy right now. Let's look at three cheap growth stocks to consider.
1. Nvidia
In the hardware space, Nvidia (NVDA 1.55%) is actually one of the cheapest artificial intelligence (AI) stocks around, trading at a forward price-to-earnings (P/E) ratio of around 23 times based on analyst fiscal 2027 (ending January) estimates. For a company that just grew its revenue by 62% last quarter, that's downright cheap.
Image source: Getty Images.
Meanwhile, with no signs of AI infrastructure spending slowing down, Nvidia is well-positioned to continue to see strong growth.
NASDAQ: NVDA
Key Data Points
While the company is facing increased competition from AI ASICs (application-specific integrated circuits), its chips are still more versatile, readily available, and have years of foundational code written on its software CUDA platform, which is optimized for its chips. It is unlikely to keep the 90% market share it holds today, but Nvidia is going to continue to get more than its fair share of the AI infrastructure spending pie, making the stock a buy.
2. Salesforce
The software-as-a-service (SaaS) space is now littered with bargains, with Salesforce (CRM +2.36%) among the most intriguing options. The stock now trades at just a forward price-to-sales (P/S) ratio multiple of 4 and a forward price-to-earnings (P/E) ratio below 15 based on 2026 analyst estimates.
NYSE: CRM
Key Data Points
While there is a fear that AI will help replace software platforms, Salesforce has actually positioned itself to be an agentic AI leader. To reduce AI hallucinations, AI needs clean, organized data from which to draw, and that becomes even more important when dealing with AI agents that can act on their own with little human oversight.
Through its acquisition of Informatica and the launch of Data 360, Salesforce has set itself up to be an organization's master record of data from which it can launch AI agents. This is a huge growth opportunity, and that's why Salesforce's stock looks like a huge bargain today.
3. GitLab
Another stock mired in the SaaS abyss is GitLab (GTLB 1.47%), which operates a DevSecOps (development, security, and operations) platform. The fears of its demise have sent the stock to a forward P/S multiple of just 4.8 times for a company that has consistently been growing its revenue at a 25% to 35% clip over the past couple of years.
NASDAQ: GTLB
Key Data Points
While investors fear AI will lead to fewer software programmers, thus far, GitLab has been seeing seat expansion and more code written on its platform. Meanwhile, it is shifting to a hybrid seat-plus-usage-based model to proactively address this potential issue, while simultaneously looking to benefit from the higher value it is now giving its clients. For example, with its Duo agent platform, it can help programmers both write code and perform other tasks involved in the software development process.
With code needing to be written, governed, and stored in a secure environment, and GitLab being a prime coding depository, the company looks more likely to be an AI winner than a loser, meaning the stock is mispriced.
