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U.S. Internet Services and Infrastructure Industry Analysis

UpdatedMar 09, 2026
DataAggregated Company Financials
Companies45
  • 7D4.3%
  • 3M-14.7%
  • 1Y26.2%
  • YTDn/a

Over the last 7 days, the Internet Services and Infrastructure industry has risen 4.3%, driven by gains from Shopify of 12%. During this same period, the MongoDB underperformed, falling 16%. This takes the industry's 12 month performance to a gain of 26%. Looking forward, earnings are forecast to grow by 28% annually.

Industry Valuation and Performance

Has the U.S. Internet Services and Infrastructure Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 10 Mar 2026US$435.8bUS$44.4b-US$1,090,928,999.1554.6x-399.4x9.8x
Thu, 05 Feb 2026US$423.4bUS$41.7b-US$166,981,997.7346.7x-2535.8x10.2x
Sat, 03 Jan 2026US$495.8bUS$41.5b-US$264,936,005.0362.6x-1871.4x11.9x
Mon, 01 Dec 2025US$497.1bUS$41.0b-US$322,597,215.6462.1x-1540.9x12.1x
Wed, 29 Oct 2025US$585.2bUS$43.7bUS$430.7m93.7x1358.8x13.4x
Fri, 26 Sep 2025US$528.6bUS$43.7bUS$474.7m95.7x1113.6x12.1x
Sun, 24 Aug 2025US$468.9bUS$43.4bUS$350.3m114x1338.6x10.8x
Tue, 22 Jul 2025US$451.7bUS$36.5b-US$1,336,734,646.96119.9x-337.9x12.4x
Thu, 19 Jun 2025US$432.5bUS$36.5b-US$1,336,731,071.9989.5x-323.6x11.9x
Sat, 17 May 2025US$369.0bUS$35.9b-US$1,511,196,551.8381.7x-244.2x10.3x
Mon, 14 Apr 2025US$305.8bUS$38.9b-US$6,704,466.9856.2x-45616.7x7.9x
Wed, 12 Mar 2025US$312.1bUS$37.4b-US$1,613,872.2572.4x-193395.6x8.3x
Fri, 07 Feb 2025US$361.1bUS$31.5b-US$1,887,205,412.62110.8x-191.4x11.5x
Sun, 05 Jan 2025US$312.1bUS$31.7b-US$1,753,914,709.57102.1x-177.9x9.9x
Tue, 03 Dec 2024US$320.7bUS$31.9b-US$1,559,973,571.2977.6x-205.6x10x
Thu, 31 Oct 2024US$244.2bUS$30.7b-US$1,657,130,806.9668x-147.3x8x
Sat, 28 Sep 2024US$238.1bUS$30.7b-US$1,682,244,582.8456.4x-141.5x7.8x
Mon, 26 Aug 2024US$233.0bUS$30.4b-US$1,769,695,757.8136.6x-131.6x7.7x
Wed, 24 Jul 2024US$238.4bUS$33.9b-US$1,615,538,049.8024x-147.5x7x
Fri, 21 Jun 2024US$231.2bUS$33.9b-US$1,621,255,274.3821.7x-142.6x6.8x
Sun, 19 May 2024US$250.9bUS$33.5b-US$1,604,743,029.2523.2x-156.3x7.5x
Tue, 16 Apr 2024US$250.2bUS$28.6b-US$3,374,136,486.4962.9x-74.1x8.8x
Thu, 14 Mar 2024US$264.3bUS$28.6b-US$2,609,861,085.1030.3x-101.3x9.2x
Sat, 10 Feb 2024US$321.0bUS$27.7b-US$4,001,913,381.7218.8x-80.2x11.6x
Mon, 08 Jan 2024US$272.4bUS$29.0b-US$3,577,791,173.0020.4x-76.1x9.4x
Wed, 06 Dec 2023US$273.3bUS$28.9b-US$3,633,464,089.0020.3x-75.2x9.5x
Fri, 03 Nov 2023US$207.4bUS$28.3b-US$4,148,214,258.0021.7x-50x7.3x
Sun, 01 Oct 2023US$224.7bUS$27.7b-US$4,958,177,255.0020.5x-45.3x8.1x
Tue, 29 Aug 2023US$224.3bUS$27.4b-US$5,127,921,403.0020.8x-43.7x8.2x
Thu, 27 Jul 2023US$246.1bUS$27.5b-US$5,295,620,011.0019.9x-46.5x9x
Sat, 24 Jun 2023US$243.2bUS$27.5b-US$5,240,667,147.0018.8x-46.4x8.9x
Mon, 22 May 2023US$226.4bUS$27.1b-US$5,365,789,853.0017.6x-42.2x8.4x
Wed, 19 Apr 2023US$212.4bUS$31.1b-US$8,345,919,058.0024.7x-25.4x6.8x
Fri, 17 Mar 2023US$199.1bUS$31.1b-US$8,254,102,043.0021.6x-24.1x6.4x
Price to Earnings Ratio

-24.1x


Total Market Cap: US$199.1bTotal Earnings: -US$8,254,102,043.00Total Revenue: US$31.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Internet Services and Infrastructure Industry Price to Earnings3Y Average -1797.4x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Internet Services and Infrastructure industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PS ratio of 9.4x.
Past Earnings Growth
  • The earnings for companies in the Internet Services and Infrastructure industry have improved over the last three years.
  • Revenues for these companies have grown 13% per year.
  • This means that more sales are being generated by these companies overall, and subsequently losses are decreasing too.

Industry Comparison

How does U.S. Internet Services and Infrastructure compare with similar industries?

US Market-2.17%
Tech-0.39%
IT4.94%
Internet Services and Infrastructure4.30%
IT Consulting5.57%
Data Processing Services3.48%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
SHOP ShopifyUS$133.5011.8%
+US$18.4b		43.9%PE141.4x
NET CloudflareUS$201.4811.3%
+US$7.2b		72.8%PS32.7x
SNOW SnowflakeUS$182.847.3%
+US$4.3b		23.9%PS13.4x
WIX Wix.comUS$92.0026.8%
+US$1.4b		-46.0%PE105.9x
VRSN VeriSignUS$242.386.3%
+US$1.3b		1.4%PE26.9x

Latest News

CRWV
US$74.41
CoreWeave
7D
-4.7%
1Y
n/a
VNET
US$9.79
VNET Group
7D
-6.3%
1Y
-14.3%

VNET: Private REIT Project Will Support Future Data Center Expansion

Analysts have trimmed their price target for VNET Group to about $14.92 from roughly $15.31, reflecting updated assumptions around discount rates, profit margins, and future P/E levels. Valuation Changes Fair Value: Trimmed slightly from $15.31 to $14.92 per share, reflecting updated model inputs.
SNOW
US$182.84
Snowflake
7D
7.3%
1Y
23.9%

SNOW: OpenAI Alliance And AI Workloads Will Drive Future Platform Adoption

We are trimming our Snowflake fair value estimate by about $25.80 to $341.03, reflecting a higher discount rate and lower future P/E assumption, even as analysts point to solid Q4 execution, accelerating AI use cases, and generally supportive long term growth and margin profiles in their updated price targets. Analyst Commentary Street research around Snowflake has been active, with most firms adjusting price targets while still expressing confidence in the company’s execution, AI positioning, and long term opportunity.
AKAM
US$102.11
Akamai Technologies
7D
4.6%
1Y
21.3%
WIX
US$92.00
Wix.com
7D
26.8%
1Y
-46.0%
OKTA
US$79.71
Okta
7D
7.8%
1Y
-24.2%
RXT
US$2.00
Rackspace Technology
7D
-9.9%
1Y
-2.9%
NET
US$201.48
Cloudflare
7D
11.3%
1Y
72.8%

NET: AI Infrastructure And JD Cloud Partnership Will Drive Future Upside

Analysts have trimmed their average Cloudflare price target slightly by about $1 to reflect a higher discount rate and sharply lower modeled profit margins, while still highlighting continued revenue strength and questioning recent security sector selling linked to Claude Code Security news. Analyst Commentary Recent research on Cloudflare reflects a split tape, with several banks trimming price targets on valuation and margin assumptions at the same time others are upgrading ratings or lifting targets on product momentum and AI exposure.
DOCN
US$57.53
DigitalOcean Holdings
7D
-1.2%
1Y
55.7%

DOCN: AI Inference Workloads And New Capacity Will Drive Bullish Repricing

The analyst fair value estimate for DigitalOcean has increased from $65.00 to $86.00, reflecting updated views that emphasize stronger revenue growth and profitability potential related to AI inference workloads and new capacity coming online, as highlighted in recent Street research. Analyst Commentary Recent Street research around DigitalOcean highlights a clear split between bullish analysts raising targets on the back of AI related momentum and more cautious voices that prefer to wait for additional proof points.
MDB
US$271.74
MongoDB
7D
-16.4%
1Y
50.7%

MDB: Fair Outlook Sees AI Data Opportunity Tempered By Atlas And Leadership Uncertainty

Narrative Update Our updated analyst price target for MongoDB moves from $340.43 to $250.00, reflecting analysts' lower long term revenue growth assumptions, a slightly higher discount rate and a more conservative future P/E multiple, even as they highlight ongoing AI related opportunities and the recent post earnings selloff as a reset in expectations rather than a change in the core story. Analyst Commentary A wave of post earnings research on MongoDB has centered on resetting expectations after mixed guidance and a sharp pullback in the share price.
APLD
US$27.03
Applied Digital
7D
-3.2%
1Y
333.2%

APLD: Hyperscale Power Leases And New AI Campuses Will Drive Future Upside

Analysts are keeping their $36 price target on Applied Digital steady, citing recent hyperscaler leases, expanded AI infrastructure contracts, and continued buy ratings across the Street as reasons to maintain their existing valuation framework, even as they update assumptions for discount rate, growth, margins, and future P/E. Analyst Commentary Street research on Applied Digital has generally highlighted strong interest in its AI focused infrastructure model, supported by long term colocation leases and a growing pipeline of potential hyperscaler agreements.
SHOP
US$133.50
Shopify
7D
11.8%
1Y
43.9%

SHOP: Rich Multiple And Agentic Commerce Promise Will Shape Near-Term Trading

The analyst price target for Shopify in our model edges up from $110.00 to about $111.12 as analysts weigh a mix of recent target cuts and upgrades, with many still highlighting growth in agentic commerce, AI supported monetization, and the stock's pullback as key parts of their thesis. Analyst Commentary Recent research on Shopify reflects a split view, with some firms upgrading on the stock's pullback and AI and agentic commerce potential, while others are trimming targets or stepping to the sidelines after a strong run.
GDDY
US$91.69
GoDaddy
7D
3.9%
1Y
-46.8%

GDDY: AI Agentic Offerings Will Support Margins And Long Term Returns

Narrative Update on GoDaddy Analysts have reset expectations for GoDaddy, with our illustrative fair value moving from about $175.00 to roughly $119.43 as lower Street price targets, tempered revenue growth assumptions, and a reduced future P/E outlook reflect concerns over softer 2026 guidance, bookings trends, and ongoing debate around AI related competitive risks, even as newer AI driven offerings and margin guidance keep longer term potential in focus. Analyst Commentary Street research has shifted sharply lower on GoDaddy's valuation assumptions, with a series of reduced price targets clustering in the US$77 to US$210 range.
VRSN
US$242.38
VeriSign
7D
6.3%
1Y
1.4%

VeriSign's Future Still Hinges on Single-Service Dependency

A new series of interviews with current and former employees, conducted in January and February 2026, confirm our risk analysis. Management practices continue to be not in line with best-in-class approaches.
SHAZ
US$18.59
SharonAI Holdings
7D
-9.3%
1Y
n/a
WYFI
US$15.81
WhiteFiber
7D
-8.9%
1Y
n/a