You can buy shares of any company even if you don’t have enough money to buy a full share. However, many investors prefer to own a full share of a company instead of a fractional share. That’s one of the reasons why many corporations initiate stock splits once their prices get above $1,000 per share. 

However, a stock with a low price per share doesn’t always present a good deal for investors. It’s also important to look at a corporation’s financial growth, long-term opportunities and valuation. A stock priced under $10 per share that trades at a 1,000 P/E ratio isn’t a bargain. Even for a $10 stock with a 5 P/E ratio, you’d have to know more about the financials to gauge if the stock offers a good opportunity.

These affordable growth stocks offer plenty of promise, and only one of these picks is valued at above $100 per share. There’s even a stock on this list that currently trades below $10 per share despite showing great long-term promise.

Alphabet (GOOG, GOOGL)

Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) trades at roughly $185 per share after going through a 20-for-1 stock split in 2022. The online advertising leader has been off to a great start with a 32% year-to-date gain. Shares have more than tripled over the past five years and trade at a 29 P/E ratio.

The tech conglomerate’s first-quarter results indicate that financials remain strong. Revenue increased by 15% year-over-year (YOY) while net income soared by 57% YOY. The company’s cost-cutting measures have returned more value to shareholders without disrupting top-line growth. While advertising still makes up the bulk of total revenue, Google Cloud now consists of more than 10% of total sales. Artificial intelligence should accelerate cloud revenue growth in the years ahead.

Alphabet trades at a reasonable valuation and has plenty of support within Wall Street. The stock is currently rated as a Strong Buy with a projected 8% upside from current levels. The highest price target of $225 per share suggests the stock can rally by an additional 22%.

SoFi (SOFI)

SoFi (NASDAQ:SOFI) is the cheapest stock on this list from a price-per-share perspective. The $7 billion fintech company currently trades at below $7 per share. Rising profits present a long-term opportunity for investors. Holding onto SoFi stock this long has required constantly looking at the future rather than historical gains. Shares are down 34% year-to-date and have shed 49% of their market value over the past five years.

Despite the rocky history, there are a few reasons for optimism. Net revenue increased 37% YOY to reach $645.0 million in the first quarter. Net income came in at $88.0 million compared to a $34.4 million net loss in the same quarter last year. SoFi also has a strong user base that continues to grow. The fintech firm closed out the quarter with 8.1 million members, a 44% YOY improvement. SoFi offers several financial products and has diversified beyond loans. Investors will have to be patient with this stock.

Walmart (WMT)

Walmart (NYSE:WMT) recently initiated a 3-for-1 stock split that has made the stock more affordable on a per-share basis. The global retailer trades at $68 per share and has a 29 P/E ratio. Investors receive a 1.23% yield and a dividend that’s suddenly growing again. While Walmart has offered meager dividend hikes in the past, leadership stepped up with a 9% dividend hike. That’s the highest growth rate in more than a decade.

A solid first quarter supported the dividend hike. Revenue increased by 6.0% YOY to start fiscal 2025 while adjusted EPS grew by 22.4% YOY. Walmart left the quarter with a healthy balance sheet featuring $9.4 billion in cash and cash equivalents. The company also repurchased 18.0 million shares for roughly $1.1 billion.

Walmart’s growth can accelerate in the upcoming quarters thanks to e-commerce and advertising. Global e-commerce sales increased by 21% YOY while advertising revenue jumped 24% YOY. Elevated growth rates in these categories can also improve profit margins and result in more dividend hikes.

On this date of publication, Marc Guberti held long positions in GOOG and SOFI. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

On the date of publication, the responsible editor held a long position in GOOG.