We’re at a weird place in the stock market. We’re still well off the all-time highs in most stocks, but at the same time, the market has enjoyed a tremendous rally over the last three to six months. That’s got investors wondering what the best bargain stocks are at this point.

Put simply, investors want to put money to work when there’s “blood in the street.” Or at least, that’s what they ought to do, given the long-term bullish nature of the stock market.

At the same time, no one wants to get suckered into buying into the market right near an medium-term top.

Despite the big rally in the first quarter, there are still plenty of stocks trading at bargain levels. Let’s have a look at three such bargain stocks worth buying in April.

PayPal (PYPL)

There’s been a monstrous rally in tech, but almost no love for PayPal (NASDAQ:PYPL). Shares have rallied about 13% from the 52-week low, trailing both the S&P 500 and the Nasdaq, as well as many of its peers.

Put simply, PayPal stock has struggled for upside traction. That’s despite the company reporting several earnings beats in a row and raising its earnings outlook.

Maybe the underperformance is because investors are no longer sure how to classify this stock.

Previously considered a high-quality growth stock, the stock’s association with “growth” was its demise in 2022. PayPal suffered a peak-to-trough decline of more than 78%. Despite the ARK Innovation ETF (NYSEARCA:ARKK) falling a similar amount (81%), it’s currently up 33% from the lows.

With its new lower-growth profile, PayPal stock is between a value stock and a growth stock. Indeed, I’d put it among the top bargain stocks in the market right now.

Analysts now expect 7% to 10% annual revenue growth for the next few years, and steady earnings growth to boot. Despite this, shares trade at just 15-times this year’s earnings. That seems like a bargain for long-term investors.

Johnson & Johnson (JNJ)

I have been pounding the table on Johnson & Johnson (NYSE:JNJ) lately, as the stock underwent an uncharacteristic decline. JNJ stock is normally known for its consistency and stability, but it has been anything but that over the last quarter.

Over the past nine weeks, shares of JNJ stocks have fell for, well, nine straight weeks. Over that span, this stock fell more than 16%. Keep in mind, this was the company that provided reassurance to the public (and investors) in April 2020 amid the Covid-19 outbreak. It’s also the stock that was hitting all-time highs in April 2022 while many stocks were hitting 52-week lows.

All of this is to say that Johnson & Johnson’s selloff seems more like an opportunity for buyers than some profound ongoing collapse that will continue.

Currently, JNJ stock pays a dividend yield close to 3% and has raised that dividend for 60 straight years. In April, it will go for 61 straight years. Analysts expect mid-single digit revenue growth this year and next year, but given the company’s consistency, 15-times earnings does not feel rich at all, making this selloff look like an opportunity.

Alibaba (BABA)

For many investors, Alibaba (NYSE:BABA) is simply not a name they are willing to entertain a long position in. Honestly, that’s quite fine. It’s a company that not many are directly familiar with, compared to a company like Amazon(NASDAQ:AMZN), and many are aware of the risk it carries as a Chinese company.

There is the constant worry about US-China relations, delisting worries in the U.S., and rolling crackdowns from the Chinese government. All of these concerns have led to a massive decline in BABA stock, which suffered a peak-to-trough decline of 81.8%.

That said, if the Chinese economy comes roaring back to life and/or if hedge funds look to generate alpha in Chinese equities, they will most certainly head into Alibaba. If the company goes through with spinning off its businesses, this should create shareholder value, not erode it.

The stock trades at roughly 12.5-times earnings, while being forecast to generate respectable growth this year. Beyond 2023, analysts expect revenue and earnings growth to eclipse 10%.

On the date of publication, Bret Kenwell held a long position in JNJ. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.