Investors looking for stocks in the Internet - Commerce sector might want to consider either JD.com, Inc. (JD) or eBay (EBAY). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.

There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.

Currently, JD.com, Inc. has a Zacks Rank of #1 (Strong Buy), while eBay has a Zacks Rank of #3 (Hold). This means that JD's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. But this is just one piece of the puzzle for value investors.

Value investors also tend to look at a number of traditional, tried-and-true figures to help them find stocks that they believe are undervalued at their current share price levels.

Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use.

JD currently has a forward P/E ratio of 8.74, while EBAY has a forward P/E of 12.67. We also note that JD has a PEG ratio of 0.27. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. EBAY currently has a PEG ratio of 1.97.

Another notable valuation metric for JD is its P/B ratio of 1.53. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, EBAY has a P/B of 6.24.

These metrics, and several others, help JD earn a Value grade of A, while EBAY has been given a Value grade of C.

JD has seen stronger estimate revision activity and sports more attractive valuation metrics than EBAY, so it seems like value investors will conclude that JD is the superior option right now.

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This article originally published on Zacks Investment Research (zacks.com).

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