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U.S. Internet Services and Infrastructure Industry Analysis

UpdatedFeb 18, 2026
DataAggregated Company Financials
Companies44
  • 7D-1.8%
  • 3M-9.8%
  • 1Y-2.0%
  • YTDn/a

Over the last 7 days, the Internet Services and Infrastructure industry has risen 1.4%, driven by gains from Cloudflare of 7.6%. During this same period, the Shopify underperformed, falling 11%. The industry has been flat over the past 12 months despite the gain this week. As for the next few years, earnings are expected to grow by 32% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 19 Feb 2026US$439.4bUS$42.9b-US$738,958,762.7154x-594.7x10.2x
Sat, 17 Jan 2026US$501.5bUS$41.6b-US$167,343,766.0559.5x-2997x12x
Mon, 15 Dec 2025US$506.1bUS$41.5b-US$257,655,004.4152.8x-1964.2x12.2x
Wed, 12 Nov 2025US$542.1bUS$40.8b-US$509,423,116.40103x-1064.1x13.3x
Fri, 10 Oct 2025US$567.6bUS$43.7bUS$475.4m90.8x1194x13x
Sun, 07 Sep 2025US$491.8bUS$43.9bUS$410.4m105.9x1198.6x11.2x
Tue, 05 Aug 2025US$426.8bUS$36.7b-US$1,272,199,392.20104.1x-335.5x11.6x
Thu, 03 Jul 2025US$437.6bUS$36.5b-US$1,337,491,967.06116.1x-327.2x12x
Sat, 31 May 2025US$391.6bUS$36.4b-US$1,382,750,445.0388x-283.2x10.8x
Mon, 28 Apr 2025US$336.7bUS$38.9bUS$18.2m62.5x18509.1x8.7x
Wed, 26 Mar 2025US$345.8bUS$37.4bUS$784.7m83.8x440.7x9.2x
Fri, 21 Feb 2025US$402.2bUS$37.0bUS$40.1m70.5x10042.2x10.9x
Sun, 19 Jan 2025US$308.9bUS$31.7b-US$1,881,829,773.9496.6x-164.1x9.7x
Tue, 17 Dec 2024US$321.5bUS$32.1b-US$1,443,403,084.8078x-222.8x10x
Thu, 14 Nov 2024US$288.4bUS$31.6b-US$1,501,431,952.33104.1x-192.1x9.1x
Sat, 12 Oct 2024US$251.6bUS$30.7b-US$1,665,418,637.1067.1x-151.1x8.2x
Mon, 09 Sep 2024US$213.5bUS$30.6b-US$1,668,832,431.7154.9x-127.9x7x
Wed, 07 Aug 2024US$191.6bUS$29.8b-US$3,153,043,328.8823.3x-60.8x6.4x
Fri, 05 Jul 2024US$248.5bUS$33.9b-US$1,616,490,977.1123.7x-153.7x7.3x
Sun, 02 Jun 2024US$226.8bUS$33.8b-US$1,561,815,697.5422.4x-145.2x6.7x
Tue, 30 Apr 2024US$251.0bUS$28.6b-US$3,375,238,416.4959.5x-74.4x8.8x
Thu, 28 Mar 2024US$265.3bUS$28.5b-US$2,988,673,106.1930.3x-88.8x9.3x
Sat, 24 Feb 2024US$287.0bUS$28.2b-US$2,792,713,648.9229.8x-102.8x10.2x
Mon, 22 Jan 2024US$286.3bUS$29.0b-US$3,560,516,300.0020.4x-80.4x9.9x
Wed, 20 Dec 2023US$290.8bUS$29.0b-US$3,578,639,404.0020.4x-81.3x10x
Fri, 17 Nov 2023US$249.5bUS$28.5b-US$3,679,748,020.0021.8x-67.8x8.7x
Sun, 15 Oct 2023US$221.1bUS$27.7b-US$4,957,911,232.0020.7x-44.6x8x
Tue, 12 Sep 2023US$250.9bUS$27.7b-US$4,943,964,356.0020.5x-50.7x9.1x
Thu, 10 Aug 2023US$224.5bUS$27.5b-US$5,115,612,157.0020.4x-43.9x8.2x
Sat, 08 Jul 2023US$237.5bUS$27.4b-US$5,289,691,184.0018.9x-44.9x8.7x
Mon, 05 Jun 2023US$238.8bUS$27.5b-US$5,248,311,610.0016.8x-45.5x8.7x
Wed, 03 May 2023US$194.7bUS$30.8b-US$7,876,523,566.0018.8x-24.7x6.3x
Fri, 31 Mar 2023US$206.0bUS$31.1b-US$8,409,499,981.0022.8x-24.5x6.6x
Sun, 26 Feb 2023US$195.1bUS$30.6b-US$8,141,765,683.0021.7x-24x6.4x
Price to Earnings Ratio

-24x


Total Market Cap: US$195.1bTotal Earnings: -US$8,141,765,683.00Total Revenue: US$30.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Internet Services and Infrastructure Industry Price to Earnings3Y Average -1789.7x202420252026
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 9.3x.
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 12% 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-1.58%
Tech-2.59%
IT-6.34%
Internet Services and Infrastructure-1.77%
Data Processing Services-1.99%
IT Consulting-10.32%
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$121.642.5%
+US$3.8b		-4.7%PE128.9x
AKAM Akamai TechnologiesUS$109.3115.3%
+US$2.1b		9.0%PE31x
FSLY FastlyUS$18.83102.3%
+US$1.4b		139.0%PS4.5x
NET CloudflareUS$191.441.1%
+US$714.3m		19.2%PS31.1x
DOCN DigitalOcean HoldingsUS$68.8610.4%
+US$591.0m		55.5%PE25x

Latest News

AKAM
US$109.31
Akamai Technologies
7D
15.3%
1Y
9.0%

AKAM: Fair Outlook As AI Infrastructure And Compute Transition Tests Execution

The Akamai Technologies analyst price target has been raised by about $1.57 to align with Street research that points to improving revenue growth assumptions, a slightly lower discount rate and a higher future P/E. This is supported by analysts highlighting moderating delivery declines, steadier Security trends, accelerating compute growth and potential benefits from AI infrastructure demand.
FSLY
US$18.83
Fastly
7D
102.3%
1Y
139.0%

FSLY: Security Momentum Will Struggle To Offset Rising Execution Risk

We are lifting our Fastly fair value estimate from $14.00 to $15.00 per share. This change reflects a series of recent analyst price target increases that rely on higher assumed revenue growth, modestly stronger profit margins, a lower discount rate, and a reduced future P/E multiple in updated models.
SHOP
US$121.64
Shopify
7D
2.5%
1Y
-4.7%

SHOP: Rich Multiple And Mixed Sentiment Will Likely Cap Near-Term Upside

Analysts have trimmed our Shopify fair value estimate to $110 from about $139. This reflects lower price targets across the Street as models reset for softer revenue growth assumptions, slightly reduced margin expectations, and lower sector P/E multiples despite generally solid recent results.
VNET
US$12.46
VNET Group
7D
-8.0%
1Y
-4.4%

VNET Group, Inc.'s (NASDAQ:VNET) 31% Share Price Surge Not Quite Adding Up

Feb 16
VNET Group, Inc.'s (NASDAQ:VNET) 31% Share Price Surge Not Quite Adding Up
GDS
US$45.18
GDS Holdings
7D
-2.8%
1Y
5.0%

GDS: 300MW 2025 Leasing And 2026 Installs Will Support Upside

Narrative Update Analysts have adjusted their fair value estimate for GDS Holdings from $48.30 to $52.73, citing updated assumptions on discount rates, long term revenue growth, profit margins, and future P/E expectations following recent mixed 3Q25 results and steady 2025 guidance. Analyst Commentary Bullish and bearish analysts are reading the same mixed 3Q25 update and 2025 guidance in very different ways, which shows up directly in how they think about fair value and upside versus execution risk.
DOCN
US$68.86
DigitalOcean Holdings
7D
10.4%
1Y
55.5%

DigitalOcean Holdings, Inc. (NYSE:DOCN) Stock Rockets 29% As Investors Are Less Pessimistic Than Expected

Feb 14
DigitalOcean Holdings, Inc. (NYSE:DOCN) Stock Rockets 29% As Investors Are Less Pessimistic Than Expected
RXT
US$1.37
Rackspace Technology
7D
224.0%
1Y
-52.8%
WIX
US$68.77
Wix.com
7D
-4.6%
1Y
-68.3%
NET
US$191.44
Cloudflare
7D
1.1%
1Y
19.2%

Earnings Update: Cloudflare, Inc. (NYSE:NET) Just Reported Its Yearly Results And Analysts Are Updating Their Forecasts

Feb 13
Earnings Update: Cloudflare, Inc. (NYSE:NET) Just Reported Its Yearly Results And Analysts Are Updating Their Forecasts
OKTA
US$82.93
Okta
7D
-6.0%
1Y
-14.5%
VRSN
US$218.55
VeriSign
7D
1.3%
1Y
-5.7%
KC
US$13.63
Kingsoft Cloud Holdings
7D
-5.5%
1Y
-29.5%

KC: Lower Discount Rate And Solid Margins Will Support Future Upside

Analysts have trimmed their price target on Kingsoft Cloud Holdings to reflect a modestly lower discount rate, slightly adjusted long term revenue growth and profit margin expectations, and a reduced forward P/E assumption of 52.55x. This results in a revised fair value of US$18.14 per share.
SNOW
US$176.08
Snowflake
7D
-1.5%
1Y
-5.6%

SNOW: OpenAI Partnership And AI Demand Will Drive Future Platform Adoption

Narrative Update: Snowflake Analysts have lifted their fair value estimate for Snowflake to US$366.83 from US$334.94. This reflects updated assumptions for slightly lower revenue growth, a modestly reduced discount rate, a higher future P/E multiple, and increased AI consumption potential tied to Snowflake's new US$200m partnership with OpenAI and broader AI focused research commentary.
CRWV
US$95.45
CoreWeave
7D
0.3%
1Y
n/a
APLD
US$31.90
Applied Digital
7D
-12.8%
1Y
220.6%

APLD: Long-Term Hyperscale Leases And Power Access Will Support Future AI Demand

Analysts have lifted their price target for Applied Digital by about US$1.57, citing stronger expected revenue growth, updated discount rate assumptions, and higher implied future P/E multiples, tempered by more conservative profit margin expectations and increased confidence in hyperscaler leasing momentum and AI infrastructure demand. Analyst Commentary Recent Street research on Applied Digital has been broadly constructive, with multiple firms updating price targets and initiating coverage around the company’s AI focused data center and hyperscaler leasing story.
MDB
US$363.07
MongoDB
7D
-0.4%
1Y
23.1%

MDB: AI Workloads And Cloud Recurring Revenue Will Support Future Leadership Transition

Our updated fair value estimate for MongoDB moves to $525 from $550, as analysts factor in expectations for higher long term revenue growth, a richer future P/E multiple, and a lower discount rate, partially offset by more conservative profit margin assumptions. Analyst Commentary Recent Street research has generally tilted positive on MongoDB, with a series of higher price targets and reaffirmed positive ratings.