The market turmoil hasn’t been enjoyable. However, it has opened doors for the best bargain stocks to buy. Fundamentally, all eyes point to the Federal Reserve. In order to mitigate the excesses of monetary stimulus that occurred in the early phase of the coronavirus pandemic, the Fed committed to a hawkish policy. Unfortunately, the subsequent rise of borrowing costs reduces business sentiment.

Essentially, companies will seek fewer financing measures to support expansion. In turn, fewer dollars will end up chasing more goods, which is deflationary across the board. Unfortunately, this dynamic clouds equities, particularly those driven toward growth. At the same time, astute investors can use this time to target the best bargain stocks to buy.

What’s going on in the market is simply a reassessment. Now that companies will likely not grow as much based on the new monetary paradigm, they received a fundamental downgrade. However, this downgrading can sometimes be too aggressive based on the impacted companies’ financial resilience or fundamental relevance.

That’s where potential upside prospects arise from the best bargain stocks to buy. Below are a few compelling ideas.

Accenture (ACN)

Accenture (NYSE:ACN) specializes in information technology services and consulting. Given the dour market environment, particularly rising fears of a global recession, the consultation business isn’t exactly thriving. Since the start of this year, ACN plunged 38%, making it a risky venture.

Nevertheless, Accenture belongs on this list of best bargain stocks to buy because Wall Street appears to be discounting its myriad of financial strengths. Per Gurufocus.com, ACN rates as modestly undervalued based on its proprietary calculations. On the top line, Accenture features a three-year revenue growth rate of 13%, ranked better than 65% of the competition.

On the bottom line, the company features an operating margin of 15%, far higher than the industry median of 2.8%. In addition, Accenture has a return on equity of 33%, reflecting a high-quality business. Plus, as a nice bonus, the company pays a dividend of nearly 1.8%. While not much, it exceeds the technology sector’s average yield of 1.37%.

Cisco (CSCO)

Hardly the most exciting name among the best bargain stocks to buy, Cisco Systems (NASDAQ:CSCO) nevertheless deserves a close look. Per its corporate profile, Cisco develops, manufactures, and sells networking hardware, software, telecommunications equipment and other high-technology services and products. The company enjoys relevance in burgeoning fields, such as the Internet of Things and domain security.

Despite representing a pertinent business profile, Wall Street carries a dim view on CSCO. On a year-to-date basis, the stock fell over 36%, reflecting on paper substantial risks. Still, it appears that investors at large ignore Cisco’s robust financials. Per Gurufocus.com, CSCO is modestly undervalued.

One of the key factors to consider is the company’s return on equity. Standing at 29%, this metric ranks better than over 94% of the competition. Fundamentally, this stat means that Cisco is highly efficient in converting equity financing into profits. As well, investors of best bargain stocks to buy should note that Cisco features a forward yield of 3.78%. That’s not something to ignore in this day and age.

Five Below (FIVE)

Without getting into any political discussions, when I see Five Below (NASDAQ:FIVE) and its performance in the chart, I can’t help but think about President Joe Biden and his famous quip: “Come on, man!” Per its corporate profile, Five Below is an American chain of specialty discount stores that sells products that are less than $5, plus a small assortment of products from $6 to $25.

Under the present circumstances where the American public anticipates higher inflation, a discount retailer like Five Below makes perfect sense. Under a theoretical deflationary environment, Five Below would still make perfect sense. How so? If the Fed ends up generating deflation, that would almost certainly mean mass-scale job losses. So, while purchasing power would increase, it would likely increase for the wrong reasons.

Anyways, we don’t need to spend too much time in theoretical speculations. Instead, Gurufocus.com rates FIVE as significantly undervalued. Investors simply need to consider its excellent income statement-related performances. Its three-year revenue growth rate substantially runs past most of the competition. As well, the company has a return on equity of 22%, rating better than nearly 82% of the competition.

Kinder Morgan (KMI)

One of the largest energy infrastructure companies in the U.S., Kinder Morgan (NYSE:KMI) is one of the best bargain stocks to buy based on its pertinence to both the American economy and national security. Per its corporate profile, Kinder Morgan owns an interest in or operates approximately 83,000 miles of pipelines and 143 terminals. In other words, it’s a midstream player.

As the connection between upstream (exploration and production) and downstream (refining and marketing), midstream players like Kinder Morgan benefit from inelastic demand at the baseline of consumption. In other words, irrespective of wider economic conditions, people need to get from point A to point B. Therefore, Kinder is a vital cog to the kinesis of the U.S. economy. In turn, it’s also important to national security since lack of infrastructure can lead to chaos.

Financially, Gurufocus.com rates KMI as modestly undervalued. Its key strength centers on consistent profitability. In fact, the company features 10 years of consecutive profits, providing confidence in uncertain times. As well, Kinder offers a forward yield of 6.46%.

Paycom (PAYC)

Based in Oklahoma City, Oklahoma, Paycom (NYSE:PAYC) is an American online payroll and human resource technology provider. Fundamentally, the company derives its value by allowing its enterprise-level clients to enjoy online payroll services and HR software solutions. During the work-from-home pivot at the onset of the Covid-19 pandemic, PAYC quickly skyrocketed due to obvious relevance.

Nowadays, Wall Street has soured on the concept. Since the start of this year, PAYC dipped 26%. Because of global recession fears, many companies believe that layoffs will be necessary. Logically, a reduced workforce doesn’t spell a bright future for Paycom. However, the discount in its share price could be overdone. After all, it’s not like every company will reduce payroll by 100%.

In addition, Gurufocus.com rates PAYC as significantly undervalued. On both the top and bottom lines, Paycom features strong performance metrics. At the same time, Paycom also enjoys a robust balance sheet. With a cash-to-debt ratio of 9.62x, which is  better than 63% of the industry, Paycom can weather the coming storm.

Netflix (NFLX)

The volatility directed at streaming giant Netflix (NASDAQ:NFLX) should not surprise anyone. During the onset of the pandemic, NFLX soared as the underlying business benefitted from a hostage audience (quite literally). Now that government agencies reduced or outright eliminated mobility restrictions, Netflix suffered significant subscriber losses.

Still, NFLX represents one of the best bargain stocks to buy, in part because management is fighting back. In early November, Netflix will launch its advertisement-drive subscription tier, which should help bring subscribers back. As well, the company still provides compelling content that resonates with fans. This brand cachet is probably not going away anytime soon.

Financially, Gurufocus.com rates NFLX as significantly undervalued. Anchored by a reasonably solid balance sheet, Netflix also commands double-digit three-year revenue growth rates that rank among the top echelon of the industry. Finally, Netflix features a return on equity of 31.2%, ranked better than 93% of the competition.

Nvidia (NVDA)

Easily one of the hardest-hit sectors during the Covid-19 crisis was the semiconductor space. Facing severe supply chain disruptions, companies like Nvidia (NASDAQ:NVDA) struggled to feed demand efficiently. Now that consumer sentiment shifted in the wrong direction, the sector may suffer an inventory glut problem.

To be fair, it’s not time to hit the panic button. For instance, in the fiscal year ended January 2020, Nvidia’s days inventory hit over 112. One year later, it slipped to 81.5. Now, on a trailing-12-month basis, we’re looking at nearly 87. Further, other elements such as sharply reduced demand for cryptocurrency-mining graphics processing units don’t help.

However, NVDA still qualifies as one of the best bargain stocks to buy. For one thing, market segments like cryptos will likely pick back up again at some point. Moreover, Nvidia’s business rates as significantly undervalued. Broadly speaking, the company enjoys robust strengths across the board. As well, Nvidia is a high-quality name, with a return on equity of nearly 32% that beats out 89% of semiconductor firms.

On the date of publication, Josh Enomoto 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.