7 Cheap Internet Stocks To Invest In Now

5. eBay Inc. (NASDAQ:EBAY)

Forward P/E Ratio: 13.32

Earnings Growth This Year: 13.70% 

Number of Hedge Fund Holders: 38

eBay Inc. (NASDAQ:EBAY) is an international e-commerce company that operates an online marketplace allowing users to buy and sell a range of products. E-commerce is one of the biggest categories of Internet stocks, moreover, the cheap valuation of the company in question, makes it one of the cheapest Internet stocks to invest in now.

eBay Inc. (NASDAQ:EBAY) is one of the pioneers when it comes to the e-commerce industry. It has a presence in more than 200 countries and allows businesses to sell without overhead international selling charges.

The second quarter of 2024, highlighted its market leading position and ability to stay profitable under a competitive market environment. The revenue of the company was up 2% year-over-year, with gross merchandise value (GMV) increasing 1% during the same time. Both figures bested the upper boundary of the internal guidance.

eBay Inc. (NASDAQ:EBAY) has been incorporating the use of technology into its platform and has introduced AI features that help personalize product listings. It also enjoys significant support from its advertising business and generated around $398 million in advertisement revenue up 8% year-over-year.

With robust financials under stressful conditions, management has high expectations for the upcoming quarter. It expects revenue of $2.56 billion and $18.2 billion in GMV for the FQ3 2024.