It’s always hard to know what price to pay for growth stocks because the market has priced them higher to take into account rapid future growth. Sometimes growth companies can suffer heavy price declines when growth isn’t quite as quick as expected.

Companies like Blackmores Limited (ASX: BKL) and iSentia Group Ltd (ASX: ISD) are trading a long way below their all time highs. However, as long as investors hold for the long term the share prices in growing companies should eventually catch up.

Below are five growth companies I think are worth buying today:

WAM Capital Limited (ASX: WAM)

A listed investment company (LIC) wouldn’t normally count as a growth stock, but WAM Capital’s share price performance combined with the small-to-mid cap stocks that make up its portfolio make it a growth stock in my eyes.

WAM Capital is currently trading with a grossed up dividend yield of 9.04%. At the end of October 2016, 39.1% of its portfolio was in cash, giving it a lot of flexibility to invest in beaten-down stocks.

With a grossed up dividend yield of 9% it looks appealing.

REA Group Limited (ASX: REA)

The property website giant has had a bit of a rough time over the last six months, but I think this provides a great entry price. The recent move into the USA with Move Inc. is a great opportunity for growth over the coming years.

The domestic sites have pricing power which can’t be matched, in its latest update it revealed that Q1 earnings before interest, tax, depreciation and amortisation had grown by 9% even though listings had decreased.

REA Group is trading at 26.8x FY17’s estimated earnings with a grossed up dividend yield of 2.33%

Class Ltd (ASX: CL1)

The self-managed super fund (SMSF) software provider has been growing its business at an incredible rate. The growth of SMSFs and cloud computing is a combined boost to Class’s outlook.

If you exclude the loss of AMP Limited’s (ASX: AMP) clients, Class has a retention rate of 99.8% of its billable portfolios. This speaks to how strong the product Class offers is.

Class is trading at 44.5x FY17’s estimated earnings with a dividend yield of 1.27%, which will be fully franked from December 2016 onwards.

Capilano Honey Ltd (ASX: CZZ)

The honey giant is really ramping up its export sales to Asia, but its share price has slowly been dropping over the last six months. However the performance has continued to impress as in FY16 it grew net profit after tax by 21% and I think Capilano will continue growing well in the medium term.

Capilano is trading at 16.5x FY16’s earnings with a grossed up dividend yield of 3.17%.

Foolish takeaway

Each of these stocks offer good growth at a good price. I think WAM Capital and REA Group are the best two picks, one offers a great dividend yield and the other offers long-term growth at a reasonable price.

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Motley Fool contributor Tristan Harrison owns shares of WAM Capital Limited. The Motley Fool Australia owns shares of Capilano Honey Limited and Class Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.