While some investors love putting money down on aspirational (but unproven) enterprises in the hope of eventual growth and profitability, other market participants prefer to focus on value stocks to buy. Typically, these companies already own working enterprises. However, they just happen to be undervalued based on key performance metrics (usually trailing-12-month earnings).

For this exercise, we’re talking about a special brand of value stocks to buy – securities that can do the double. That’s right, these enterprises have become so underappreciated that they can possibly generate 100% returns. And we’re not talking about 100% returns a decade from now but over a 12-month period.

To be 100% clear about these 100% returns, we’re dealing with possibilities, not guarantees. Also, to seek greater returns, you almost always must accept greater risks. If you’re fine with that, you may consider these value stocks to buy.

TTEC Holdings (TTEC)

Headquartered in Englewood, Colorado, TTEC Holdings (NASDAQ:TTEC) is a customer experience technology and services company. Essentially, TTEC helps its enterprise-level clients optimize their customer care and front-facing operations (such as tech support). Unfortunately for current stakeholders, the market hasn’t been giving much of a chance to TTEC. Since the start of the year, shares declined over 15%.

However, that might be a mistake, potentially making the enterprise one of the value stocks to buy. Specifically, its three-year revenue growth rate comes in at 13.7%, beating out 63.63% of rivals listed in the software industry. Also, its operating margin pings at 7.69%, outpacing over 65% of its peers.

Notably, the market prices TTEC at a forward multiple of 15.09. As a discount to projected earnings, TTEC ranks better than 75% of the competition. In fairness, Wall Street analysts peg TTEC as a consensus hold. However, their average price target stands at $50.25, implying over 33% upside potential. Also, the most optimistic target is $80, implying over 112% upside.

Vista Outdoor (VSTO)

A designer, manufacturer and marketer of outdoor sports and recreation products, Vista Outdoor (NYSE:VSTO) represents a bit of a controversial enterprise. Basically, the company features two markets: shooting sports (via ammunition brands) and outdoor products. Still, the immense popularity of the former category bolsters VSTO. Significantly, it gained over 6% since the Jan. opener.

Financially, Vista only features middling stability in the balance sheet. However, it makes up for this shortfall with strong operational stats. Its three-year revenue growth rate pings at 12.9%, besting 85.31% of its peers. Also, the company’s net margin comes in at 12.63%, above 76.89% of sector rivals.

Also, Gurufocus states that VSTO trades at a forward multiple of 6.19. As a discount to projected earnings, Vista ranks better than 98.43% of its peers. Thus, it could rank among the value stocks to buy with huge upside.

So far, analysts peg VSTO as a consensus moderate buy. Their average price target stands at $38, implying over 43% upside potential. The most optimistic target published in the past year is $47, implying over 77% upside.

Bread Financial Holdings (BFH)

Easily one of the riskiest ideas among value stocks to buy for huge upside, Bread Financial Holdings (NYSE:BFH) is a provider of loyalty and marketing services, such as private label credit cards, coalition loyalty programs and direct marketing. While relevant, the troubles impacting the consumer economy (i.e. inflation, rising layoffs) pose obstacles for BFH. Since the Jan. opener, shares fell 27%.

Financially, circumstances don’t appear too hot. First, Bread Financial suffers from a weak, low-cash balance sheet. Operationally, its 5.6% three-year revenue growth rate pings slightly better than sector average. However, it doesn’t really make up for shortfalls in other areas. Also, its net margin of 5.74% ranks worse than 65% of companies listed in the credit services industry.

Notably, the market prices BFH at a forward multiple of 3.25, ranking well below the sector median of 8.74 times. Still, Gurufocus warns that we could be looking at a possible value trap. Now, analysts peg BFH as a consensus moderate buy. Their average price target stands at $41.88, implying over 51% upside potential. The most optimistic target is $64, which implies upside of over 131%.

Dave & Buster’s Entertainment (PLAY)

If you’re still interested in taking potshots with high-potential value stocks to buy, Dave & Buster’s Entertainment (NASDAQ:PLAY) might intrigue you. A popular restaurant and entertainment business, Dave & Buster’s allowed worker bees to let off some steam before the pandemic. Following the Covid-19 crisis, however, remote operations made the enterprise irrelevant. However, relevance could be coming back.

Still, one must be cautious with PLAY stock. Because it suffered badly during the Covid lockdowns, its financials arguably look worse than it really is. For instance, its Altman Z-Score of 1.19 reflects a distressed enterprise. Also, its three-year revenue growth rate of 0.2% on paper presents huge concerns.

However, PLAY trades at 0.93-times trailing sales. As a discount to revenue, Dave & Buster’s ranks better than 62% of its peers. And I’ll disagree with Gurufocus’ warning that PLAY represents a value trap. Once society fully normalizes, this company may generate significant demand.

For now, analysts peg PLAY as a consensus strong buy. Their average price target stands at $54.50, implying over 56% upside potential. The most optimistic target hits $60, implying 72% upside.

Veritex (VBTX)

Headquartered in Dallas, Texas, Veritex (NASDAQ:VBTX) is a regional bank, making it one of the riskiest value stocks to buy. On one hand, you can take the approach that the recent banking sector fallout represents an isolated case. Over time, circumstances should normalize. However, it’s also possible that the bank runs symbolize a much deeper fissure.

On paper, Veritex presents a balanced fiscal profile. To be upfront, its balance sheet could use some work. For example, its cash-to-debt ratio of 0.31 times ranks worse than 79.5% of its peers. On the flipside, Veritex’s three-year revenue growth rate pings at 10.3%, beating out 69.42% of sector rivals. Also, its net margin prints an impressive 34.62%.

Currently, the market prices VBTX at a trailing multiple of 6.88. As a discount to earnings, Veritex ranks better than 68.76% of other banks. Turning to Wall Street, analysts peg VBTX as a consensus moderate buy. On average, their price target comes out to $32.33, implying over 73% upside potential.

E.W. Scripps (SSP)

Moving over to the extremely speculative value stocks to buy, market gamblers may be interested in taking potshots with E.W. Scripps (NASDAQ:SSP). A broadcasting company, E.W. Scripps represents the second-largest operator of ABC affiliates, behind Sinclair Broadcast Group (NASDAQ:SBGI). The company also owns a number of free-to-air multi-genre digital subchannel multicast networks through its Scripps Networks subsidiary, including the Ion Television network and Scripps News.

Of course, the main criticism for SSP stock centers on the underlying relevance or lack thereof. Basically, the cord-cutting phenomenon doesn’t appear to be reversing anytime soon. However, E.W. does feature some interesting statistics. For instance, its three-year revenue growth rate pings at 18.9%, above 86.69% of firms listed in the diversified media space.

Related to the topic at hand, the market prices SSP at 5.65-times trailing earnings, which is significantly undervalued (on paper). However, Gurufocus warns that E.W. could be a value trap. Generally, conservative investors should stay away. Still, analysts peg SSP as a consensus moderate buy. Moreover, their average price target stands at $17, implying almost 84% upside potential.

LendingClub (LC)

You’ve seen some risky ideas for value stocks to buy because you also want to see shares double. Obviously, that’s going to come with some dangers. However, LendingClub (NYSE:LC) may be the most treacherous idea here. A financial services firm, LendingClub represents a creative lending solution, enabling borrowers to create unsecured personal loans between $1,000 and $40,000.

Fundamentally, the problem is that as economic conditions weaken, borrowers may not be able to pay back their loans. Also, rising interest rates make such platforms unattractive. Financially, LendingClub presents a tricky case. On one hand, the company enjoys a strong cash-to-debt ratio of 7.37 times. As well, its three-year revenue growth rate pings at a solid 10.2%.

However, it’s undervalued – perhaps too undervalued. Trading at only 2.63-times trailing earnings, one has to wonder is such a subterranean metric is sustainable or not. For those that throw caution to the wind, analysts peg LC as a consensus moderate buy. The most optimistic among them (within the past three months) calls for a price target of $17, implying 135.46% upside potential.

On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.