Let’s dig into the relative performance of eBay (NASDAQ: EBAY) and its peers as we unravel the now-completed Q4 online marketplace earnings season.

Marketplaces have existed for centuries. Where once it was a main street in a small town or a mall in the suburbs, sellers benefitted from proximity to one another because they could draw customers by offering convenience and selection. Today, a myriad of online marketplaces fulfill that same role, aggregating large customer bases, which attracts commission-paying sellers, generating flywheel scale effects that feed back into further customer acquisition.

The 12 online marketplace stocks we track reported a mixed Q4. As a group, revenues beat analysts’ consensus estimates by 1.5% while next quarter’s revenue guidance was in line.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 6.4% since the latest earnings results.

Best Q4: eBay (NASDAQ: EBAY)

Originally known as the first online auction site, eBay (NASDAQ: EBAY) is one of the world’s largest online marketplaces.

eBay reported revenues of $2.97 billion, up 15% year on year. This print exceeded analysts’ expectations by 3%. Overall, it was an exceptional quarter for the company with revenue guidance for next quarter exceeding analysts’ expectations and EPS guidance for next quarter beating analysts’ expectations.

Interestingly, the stock is up 6.6% since reporting and currently trades at $87.64.

Is now the time to buy eBay? Access our full analysis of the earnings results here, it’s free.

Instacart (NASDAQ: CART)

Powering more than one billion grocery orders since its founding, Instacart (NASDAQ: CART) is an online grocery shopping and delivery platform that partners with retailers to help customers shop from local stores through its app or website.

Instacart reported revenues of $992 million, up 12.3% year on year, outperforming analysts’ expectations by 2%. The business had a strong quarter with an impressive beat of analysts’ EBITDA estimates and a decent beat of analysts’ revenue estimates.

The market seems happy with the results as the stock is up 6.7% since reporting. It currently trades at $35.46.

Is now the time to buy Instacart? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: Shutterstock (NYSE: SSTK)

Originally featuring a library that included many of founder Jon Oringer’s photos, Shutterstock (NYSE: SSTK) is now a digital platform where customers can license and use hundreds of millions of pieces of content.

Shutterstock reported revenues of $220.2 million, down 12% year on year, falling short of analysts’ expectations by 12.7%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue estimates and a significant miss of analysts’ EBITDA estimates.

Shutterstock delivered the weakest performance against analyst estimates and slowest revenue growth in the group. As expected, the stock is down 6.6% since the results and currently trades at $16.13.

Read our full analysis of Shutterstock’s results here.

LegalZoom (NASDAQ: LZ)

Founded by famous lawyer Robert Shapiro, LegalZoom (NASDAQ: LZ) offers online legal services and documentation assistance for individuals and businesses.

LegalZoom reported revenues of $190.3 million, up 17.7% year on year. This result surpassed analysts’ expectations by 3.1%. It was a strong quarter as it also logged full-year EBITDA guidance exceeding analysts’ expectations and a solid beat of analysts’ EBITDA estimates.

LegalZoom had the weakest full-year guidance update among its peers. The company reported 1.94 million users, up 9.8% year on year. The stock is down 22.6% since reporting and currently trades at $5.46.

Read our full, actionable report on LegalZoom here, it’s free.

CarGurus (NASDAQ: CARG)

Bringing transparency to a sometimes opaque process, CarGurus (NASDAQ: CARG) is a digital marketplace where auto dealers can connect with potential customers and where car buyers can browse, purchase, and obtain financing.

CarGurus reported revenues of $241.1 million, up 14.7% year on year. This number beat analysts’ expectations by 0.8%. Aside from that, it was a mixed quarter as it also logged revenue guidance for next quarter topping analysts’ expectations but EBITDA guidance for next quarter missing analysts’ expectations.

The company reported 34,409 users, up 7.5% year on year. The stock is up 19.7% since reporting and currently trades at $34.95.

Read our full, actionable report on CarGurus here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.