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Growth stocks have been hit hard across the first four months of 2022's trading. The tech-heavy Nasdaq Composite index is now down more than 20% from its peak level -- a performance that once again puts it in bear market territory. 

No doubt about it -- there are a lot of risk factors for investors to consider right now. However, there are also great stocks worth buying amid the Nasdaq's bear-market backdrop. With growth stocks down big, here are two companies trading at dramatic discounts that are poised to thrive over the long term. 

Take-Two Interactive's (TTWO -5.03% ) Grand Theft Auto is the single most profitable entertainment release of all time and has sold more than 160 million copies since its initial release in 2013. There are a few secrets to the title's incredible success.

The game is very high quality and offers an immersive world that brings new experiences with each session. It also has a hugely popular online mode that keeps players engaged and spending with updates and new game modes. And finally, Take-Two has continued to release graphically updated versions of the title on PC and new console platforms.

Improvements, combined with the fundamental draw of the video game, have led players to make repeat purchases despite already owning it. Take-Two recently released an updated version of Grand Theft Auto V for Sony's PlayStation 5 and Microsoft's latest Xbox consoles. It's likely that these new releases will once again sell millions of copies and help keep players active in the Grand Theft Auto Online virtual world. 

While Grand Theft Auto is the standout property in the company's franchise portfolio, Take-Two is hardly a one-trick pony. The company is also responsible for successful series, including NBA 2K and Red Dead Redemption, and a host of other properties.

Even better, the company's pending acquisition of Zynga means it's on track to integrate mobile properties, including FarmVille, Words With Friends, and Toon Blast. Acquiring the mobile-games specialist will bring new development studios with expertise in monetizing mobile titles under Take-Two's corporate umbrella, and it should also allow the larger company to get more out of its own franchise portfolio. 

With the stock down 42% from the high it hit last year, the company is now valued at roughly $14.2 billion and trades at roughly 20 times this year's expected earnings. Take-Two looks cheap, given the strength of the business and its earnings growth potential. 

The digital-transformation trend is impacting virtually every industry under the sun. Cloud-based training and learning software remains a small market that has massive room for growth, and Docebo's (DCBO -2.72% ) category-leading offerings and first-mover position could give way to lasting dominance in the space.

The Toronto-based company went public in 2019 on the Toronto Stock Exchange and then had its debut on the Nasdaq the following year. Docebo now has a market cap of roughly $1.4 billion, and its stock is down roughly 53% from its lifetime high.

Docebo is still a relatively small company, but it's growing revenue at a rapid clip. Sales jumped 59% year over year in the fourth quarter to reach $29.8 million, and the business has continued to see strong momentum for subscription-based recurring revenue streams. The company also recorded a gross profit margin of 79% in Q4 and swung into profitability in the quarter, posting a net income of $0.7 million compared to its loss of $1.2 million in the prior-year period.

The software specialist has a cash-rich balance sheet it can use to fund internal projects and pursue acquisitions to shore up core strengths and bridge the business into new markets, and it also appears to be benefiting from a forward-looking company culture. Of employee respondents who reviewed their experiences at Docebo on Glassdoor.com, 92% approve of founder and CEO Claudio Erba, and 83% said they would recommend working at the company to a friend.

Even with pandemic-related conditions easing in most of the world, digital services and functions will continue to become increasingly central to business operations and organizational success over the long term. Docebo has massive potential for global expansion in conjunction with this trend, and long-term investors have been presented an attractive buying opportunity after big pullbacks in the company's share price.

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