Yes, many journals allow and even encourage posting a preprint prior to submission. A list of journal policies can be found on Wikipedia and SHERPA/RoMEO. Consult these lists and your target journal's author guidelines before submitting your preprint.
Many journal policies require declaration of posted preprints upon submission; we recommend you send the link or share the DOI to the Research Square preprint of your manuscript to other journals as part of a future submission.