7 Cheap Internet Stocks To Invest In Now

4. JD.com, Inc. (NASDAQ:JD)

Forward P/E Ratio: 8.36

Earnings Growth This Year: 27.70% 

Number of Hedge Fund Holders: 59

JD.com, Inc. (NASDAQ:JD) is another major player in the e-commerce industry and one of the cheapest internet stocks to invest in now. The company focuses on online retail and marketplace services. It allows users to sell and purchase a wide range of products from technology equipment to day-to-day products.

The company just crossed $4 billion in revenue during its second quarter of 2024. JD.com, Inc. (NASDAQ:JD) delivered approximately $4.1 billion in revenue, up 1.2% year-over-year. Moreover, around $3.3 billion came from its general merchandise products.

Although online retail has been one of the key contributors of revenue for the company. However, one of the key highlights for the second quarter results can be from its logistics arms, which grew 7.9% year-over-year beating the marketplace and marketing segment in terms of growth.

JD.com, Inc.’s (NASDAQ:JD) business in China is stabilizing again, which is a good sign for its prolonged growth prospects. Moreover, the stock is also cheap at current levels. It is trading at only 8.36 times its forward earnings, with analysts expecting its earnings to grow by around 28% during the year.

Ariel Global Fund stated the following regarding JD.com, Inc. (NASDAQ:JD) in its first quarter 2024 investor letter:

“We initiated a position in China-based technology-driven E-commerce company, JD.com, Inc. (NASDAQ:JD). The brand has long been known across the region as a superior online shopping channel due to its unique first-party model and unparalleled fulfillment service underpinned by JD Logistics. Yet, a challenging macro environment drove shares lower as shoppers began seeking bargains. In response, the company made significant investments in elevating its third-party merchant platform to enhance its variety of product offerings and price competitiveness for consumers. We believe these actions will yield an improved product mix, stronger top-line growth and margin expansion on a go-forward basis.”