This recent market downturn has provided investors with some very intriguing options. Those looking for stocks to buy, particularly in the growth department, have their pick of the litter. Thus, as far as being a discount shopper in the market of stocks is concerned, now is a great time to start assessing companies.

Sure, this market downturn could have more room to drop. Rampant inflation and concerns around monetary policy coming out of most central banks around the world provides a negative backdrop for equities. That’s because as interest rates rise, alternatives become more attractive. Why stick around in what could be an elongated bear market, when 2-Year U.S. Treasuries provide almost 4%, risk-free?

While growth stocks have provided some serious gains over the past decade (particularly relative to bonds), this environment may be shifting in the near-term. That said, over the longer-term, growth has generally outperformed. That seems to be the case due to the shift in our economy from goods to technology.

In this space, there happen to be a number of great options to consider at discounted prices. Here are three of the top stocks to buy in this environment for those looking to place some long-term bets right now.

Etsy (ETSY)

A pandemic-related winner, Etsy (NASDAQ:ETSY) is one company that may be divisive. While some may certainly call this company one of the top stocks to buy right now, others may see this company as a has-been with little long-term upside.

This debate is one worth considering. Indeed, like many of the other names on this list, Etsy was a key beneficiary of the pandemic. Various government-related restrictions forced the workforce toward a gig economy existence. Whether it was working from home or honing one’s hobbies during free time (which we had more of), Etsy was a beneficiary. And with consumers locked at home and forced to save the money they’d otherwise spend on vacations and dining out, Etsy’s appeal surged.

This appeal was also seen by investors, who boosted the company’s valuation. Accordingly, with the pandemic now declared over by President Biden, and things generally back to normal, ETSY stock has lost roughly 65% of its value from its 52-week high.

That said, this is a company that may be worth considering at these lower levels. The company’s brand is what many point to as the “moat” around this business, which has held up very well during previous times of turbulence. And if we’re indeed headed for a more gig-like economy over the long-term, Etsy is a company poised to take advantage of this situation.

Interestingly, over the previous five years, Etsy’s returns on capital employed have increased by around 14%. In simple terms, the company is making more money per dollar of used capital. Over time, those who believe that Etsy’s brand can continue to drive growth have to like these fundamentals. Indeed, as a global play on the gig economy, ETSY stock is one of my top picks right now.

Pinterest (PINS)

One of the more speculative stocks on my list of stocks to buy right now is Pinterest (NASDAQ:PINS). Indeed, this social media company hasn’t had a great run of late. Some would say this stock’s performance over the past year has been downright disastrous.

There’s something to that.  The company’s stock price, which has sunk more than 75% since its 52-week high, reflects daily active user and revenue growth which haven’t measured up to investor expectations. The company’s fundamentals, simply put, aren’t as great as they once were. Monthly active users are still increasing (albeit marginally) and engagement seems to be dwindling, as most of us have better things to do than look at a screen all day.

That said, Pinterest’s platform has shown significant resilience to the post-pandemic reopening we’ve seen. Users are still engaged, and advertisers still have reason to consider this platform. More independent producers of various consumer products are choosing Pinterest for its highly-targeted consumer market. And as this trend continues over time, I think Pinterest could be a winner in the social media space.

This is an example of a social media stock with a valuation that probably needed to come down. Perhaps this stock has more room to run to the downside. That said, at these levels, PINS stock is one that I think presents some significant upside right now.

Shopify (SHOP)

For those looking to shop for stocks to buy in this beaten-down market, Shopify (NYSE:SHOP) is a great place to start.

Indeed, this former growth champion has fallen quite substantially from its post-pandemic peak. Another beneficiary of pandemic-era lockdown measures which forced businesses to move online (or risk going out of business), Shopify’s revenue growth rate accelerated in 2020 and 2021, breaching the triple-digit-percentage threshold on multiple occasions.

Fast forward to this year, and the company’s growth rate has plummeted. Revenue grew only 16% year-over-year this past quarter, and earnings plunged. Additionally, the company announced a massive workforce reduction of 10%, in a bid to stem losses and bolster the company’s fundamentals. Accordingly, the 75% drop we’ve seen in this stock appears to have some fundamental drivers.

That said, there are reasons investors may want to be skeptical of this drop.

First, the year-over-year comparisons at this point are difficult to make. Shopify had banner years in 2020 and 2021. Thus, it’s a very high bar the company has set, and it continues to grow.

Secondly, the company’s long-term growth trajectory, while perhaps slowing now, remains strong over the long-term. The switch to e-commerce from bricks-and-mortar retail is one I think will be a long-term trend. Accordingly, there’s some strong secular growth catalysts to rely on for this stock.

Thus, those with a five year investing time horizon may want to consider SHOP stock on this decline.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.