Although it doesn’t receive the same level of attention as Black Friday, Cyber Monday—the Monday following Thanksgiving—has become a major online shopping event in its own right, as retailers roll out compelling digital deals to boost holiday sales. (Who knows—perhaps “AI Tuesday” will be next.) According to data from Loop Returns, Cyber Monday generated $13.3 billion in online sales in 2024, a 7.3% increase from the prior year.
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This year, instead of pulling out your credit card to search for online bargains, you might consider looking for value in e-commerce stocks themselves. Below, we examine three often-overlooked players in the sector—eBay (EBAY), Shopify (SHOP), and Global-e Online (GLBE)—and assess which currently offers the most attractive investment opportunity.
eBay (NASDAQ:EBAY)
Many investors still view eBay as an “old internet” stock—a perception that’s understandable given its 30-year history, predating even the dot-com bubble. However, this view overlooks how the company is quietly leveraging AI and other innovations to modernize its platform. For instance, its Magic Listings feature lets sellers create listings by snapping a photo with their phones. eBay’s AI tools can enhance product images with professional or seasonal backgrounds and automatically generate polished item descriptions. On the buyer side, AI improves search relevance and provides personalized fashion recommendations.
eBay is also benefiting from rising interest in thrifting among younger consumers, who increasingly turn to the platform for vintage denim, pre-owned luxury goods, designer pieces, and more. The company is leaning into this trend with creative initiatives—such as partnering with top designers to host “pre-loved” fashion shows streamed on eBay Live, where viewers can shop the looks in real time.
These technologies and initiatives are delivering results. In the most recent quarter, eBay posted impressive 9% revenue growth, generating $2.8 billion in Q3 sales.
While eBay shares have risen 27% over the past year, the stock still appears attractively priced. At just 14x forward earnings, it trades at a significant discount to the broader market; the S&P 500 (SPX), for comparison, trades at roughly 21x next-twelve-months earnings—about a 50% premium to eBay.
Beyond its valuation, eBay also appeals to income-focused investors. The stock yields 1.4%, and the company continues to return capital through aggressive share repurchases, buying back $625 million of stock in Q3 alone.
Overall, I’m bullish on eBay given its strategic use of AI, innovative initiatives, solid revenue growth, compelling valuation, and consistent shareholder returns.
Is eBay a Good Stock to Buy?
Turning to Wall Street, EBAY earns a Moderate Buy consensus rating based on nine Buys, 14 Holds, and one Sell rating assigned in the past three months. The average EBAY stock price target of $96.48 implies 16.5% upside potential.
Shopify (NASDAQ:SHOP)
Shopify isn’t an online retailer that consumers visit directly to shop for trending products. Instead, it powers many of the independent e-commerce sites where shoppers make those purchases.
The company’s long-standing mission has been to “arm the rebels”—to equip smaller merchants with the tools they need to compete with much larger players. Shopify provides a comprehensive suite of solutions, including easy online store creation, payment processing, inventory management, and the ability to embed “Buy” buttons across social media and other websites. It has even expanded into financial services through Shopify Capital and Shopify Lending, making it a true one-stop shop for e-commerce entrepreneurs.
Merchants clearly appreciate what the Toronto-based company offers. Shopify reported a remarkable 32% revenue increase in its most recent third quarter, and President Harley Finkelstein noted that an entrepreneur makes their first sale on Shopify every 26 seconds.
While there is plenty to admire about Shopify’s platform and growth trajectory, the stock’s valuation is a concern. With a market cap exceeding $200 billion, Shopify is no longer a hidden gem. It trades at 86x forward earnings estimates—4x the valuation of the S&P 500 and more than 6x that of eBay on a forward earnings basis.
Shopify remains a powerhouse with a compelling value proposition and strong momentum, but such a rich valuation suggests that much of the easy upside may already be priced in. As a result, I am Neutral on the stock at this time.
Is SHOP a Buy, Hold, or Sell?
Turning to Wall Street, SHOP earns a Moderate Buy consensus rating based on 17 Buys, 10 Holds, and zero Sell ratings assigned in the past three months. The average SHOP stock price target of $179.56 implies just over 13% upside potential.
Global-e Online (NASDAQ:GLBE)
Similar to Shopify, Global-E provides tools that support online merchants—but with a key distinction. Global-E’s primary focus is simplifying international e-commerce for its users.
The company “localizes” the shopping experience for global sellers by displaying prices in local currencies, offering checkout in native languages, and supporting region-specific payment options. It also assists with international shipping and logistics, acting as the merchant of record to help navigate the complex web of global regulations.
As with Shopify, Global-E’s results show that merchants find its platform highly valuable. In the most recent quarter, revenue grew 25%, adjusted EBITDA increased 33%, and free cash flow surged 246%—albeit to a relatively modest $73.6 million.
I’m impressed by Global-E’s growth and its strategic positioning in a world that is increasingly connected. However, the valuation gives me pause. The stock currently trades at more than 40x 2026 earnings estimates. While not as richly valued as Shopify, it remains nearly twice as expensive as the broader market and significantly pricier than eBay.
Is GLBE Stock a Buy?
Turning to Wall Street, GLBE earns a Strong Buy consensus rating based on nine Buys, zero Holds, and one Sell rating assigned in the past three months. The average GLBE stock price target of $48.40 implies 19.7% upside potential.
And the Winner is…
I have a favorable view of all three stocks, each offering compelling solutions for its users, customers, and investors. However, based on current valuations, eBay stands out as the most attractive opportunity. Despite delivering solid revenue growth and making thoughtful use of AI to enhance its platform, the stock trades at a fraction of the valuation its peers command. Much of this discount likely stems from the market’s lingering perception of eBay as an “old internet” name, a view that overlooks the company’s successful evolution in the AI era.
In addition, eBay is the only one of the three that pays a dividend, and it further rewards shareholders through substantial share repurchases. While all three businesses are strong in their own right, eBay appears to offer the most compelling value, making it the best “Cyber Monday” buy among the group.