Investors are beginning to wonder if the bear market is over. Indeed, tech stocks, hypergrowth stocks and other cyclical names are starting to trade better, as many of their stock prices are bouncing and their resistance levels are breaking. Consequently, even though it remains to be seen whether the worst of the bear market is behind us, it’s a good time to look for hypergrowth stocks to buy.

On the other hand,  it’s completely possible that the stock market will approach its lows again, causing investors to panic anew. However, when we consider the massive losses that many stocks have suffered, it would be foolish not to start looking for some to buy.

Further, investors must realize that, over the long term, the S&P 500 tends to rise meaningfully. As a result,  investors should be looking to buy the shares of good businesses once the dust settles.

Let’s look at a few hypergrowth stocks that long-term investors should buy at this point.

The Trade Desk (TTD)

Many investors will dispute the idea that The Trade Desk (NASDAQ:TTD) is a hypergrowth stock. Since The Trade Desk is an advertising platform and digital ads are under pressure. I understand that idea.  Moreover, digital ads will probably stay under pressure for the next few quarters.

But long-term investors should not care about the next couple of quarters; they should only consider the next 12 months and beyond. Indeed, I’m considering buying  The Trade Desk and holding it for the rest of the decade.

And The Trade Desk seems like it has tremendous potential, since it is profitable, is growing significantly, and generates solid free cash flow.

Despite the turbulent environment, analysts, on average, still expect the company’s revenue to increase 32% in 2022. And from 2023-2026, the mean estimate calls for the company to deliver 20% to 26.5% annual revenue growth. While the average estimate calls for the company’s earnings per share to  climb only a few percentage points in 2023 versus 2022, the mean outlook predicts that the growth of the company profits will meaningfully accelerate in 2024 and 2025.

If those estimates prove to be accurate, TTD will be a great, long-term investment.

DigitalOcean (DOCN)

The shares of many hypergrowth stocks, particularly those in the tech sector, have tumbled tremendously, party because their financial results did not justify the high levels that they had reached in the past.

Companies are being forced to reduce their financial guidance and lay off employees, while trying to claw their way toward profitability or prevent the increases of their losses from continuing to accelerate.

DigitalOcean (NYSE:DOCN) will probably have to dismiss a number of its employees But impressively, analysts, on average expect it to deliver solid earnings growth in 2023 through 2026, including an increase of more than 40% in 2023. Most analysts also expect it to deliver solid revenue growth as well.

For 2022, analysts, on average, expect DigitalOcean to generate about $574 million of sales. By 2025, its top line is expected by most analysts to clear $1.1 billion. If that indeed occurs, DigitalOcean stock should climb a long way.

Elastic (ESTC)

Like other hypergrowth stocks, the growth expectations for Elastic (NYSE:ESTC) , whose software enables companies to search the cloud, have dropped over the last few quarters. Also like other companies, it’s trying to reduce its costs and claw its way into the black.

But analysts, on average, expect the company to generate roughly break-even earnings in 2023, then start generating positive earnings in the subsequent years. As far as Elastic’s revenue, analysts, on average, expect the company to deliver very steady 20% to 25% annual growth from 2023 through 2026.

I don’t know if that qualifies as hypergrowth for some investors. But if the company is able  in this difficult environment, to generate positive revenue growth and increase its profits, it will prove to be a savvy holding for long-term investors.

That’s particularly true when  investors’ sentiment shifts from “defense” to “offense,” creating a bull market.

On the date of publication, Bret Kenwell held a long position in DOCN and ESTC. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.