Shares of Twilio (NYSE: TWLO) and Matterport (NASDAQ: MTTR) have taken a brutal beating on the market so far this year, with both tech stocks having lost close to 70% of their value as of this writing.

However, their steep declines mean that savvy investors have an opportunity to buy these fast-growing companies at attractive valuations. A closer look at the markets that Twilio and Matterport serve will show us why these companies are worth buying and holding on to for a long time.

Twilio stock's 67% drop so far in 2022 has brought its price-to-sales ratio down to 4.6. That's a nice discount when compared to Twilio's five-year average sales multiple of 16.8.

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Source Fool.com