Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

One stock to keep an eye on is Alibaba (BABA). BABA is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock is trading with P/E ratio of 11.39 right now. For comparison, its industry sports an average P/E of 31.43. Over the last 12 months, BABA's Forward P/E has been as high as 16.05 and as low as 7.91, with a median of 12.05.

Investors will also notice that BABA has a PEG ratio of 1.29. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. BABA's industry has an average PEG of 1.99 right now. Over the last 12 months, BABA's PEG has been as high as 1.71 and as low as 0.52, with a median of 1.24.

Another notable valuation metric for BABA is its P/B ratio of 1.65. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. BABA's current P/B looks attractive when compared to its industry's average P/B of 4.43. Within the past 52 weeks, BABA's P/B has been as high as 2.12 and as low as 1.11, with a median of 1.55.

If you're looking for another solid Internet - Commerce value stock, take a look at Expedia Group (EXPE). EXPE is a # 2 (Buy) stock with a Value score of A.

Shares of Expedia Group currently holds a Forward P/E ratio of 11.15, and its PEG ratio is 0.80. In comparison, its industry sports average P/E and PEG ratios of 31.43 and 1.99.

EXPE's price-to-earnings ratio has been as high as 24.62 and as low as 9.51, with a median of 12.54, while its PEG ratio has been as high as 1.47 and as low as 0.68, with a median of 0.89, all within the past year.

Expedia Group also has a P/B ratio of 4.40 compared to its industry's price-to-book ratio of 4.43. Over the past year, its P/B ratio has been as high as 8.98, as low as 3.52, with a median of 4.75.

These are only a few of the key metrics included in Alibaba and Expedia Group strong Value grade, but they help show that the stocks are likely undervalued right now. When factoring in the strength of its earnings outlook, BABA and EXPE look like an impressive value stock at the moment.

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