With millions of prospective buyers on the hunt for them at any time, bargain stocks don't stay hidden for long. That's especially true during a quickly rising market like the one that investors experienced through most of this year. When stocks' valuations are elevated, the potential for uncovering good values is diminished.

Yet there are always bargains around, including high-performing businesses that get left behind in favor of seemingly more exciting options. Let's take a look at two such companies, (NASDAQ: PEP) and Ulta Beauty (NASDAQ: ULTA), which seem primed for excellent returns ahead.

Consider Pepsi's recent track record. The company boosted its 2023 outlook in each of the last two quarters following huge growth in fiscal 2022. On top of those gains, the snack food and beverage giant achieved a blazing 14% boost in organic sales through the first half of this year, and earnings are rising at an even faster pace than revenue.

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Source Fool.com