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U.S. Internet Services and Infrastructure Industry Analysis

UpdatedFeb 24, 2026
DataAggregated Company Financials
Companies45
  • 7D-7.3%
  • 3M-18.5%
  • 1Y1.8%
  • YTDn/a

Over the last 7 days, the Internet Services and Infrastructure industry has dropped 7.3%, driven by a pullback from Cloudflare of 18%. As for the longer term, the industry's performance has been flat for the past year. Earnings are forecast to grow by 32% 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, 24 Feb 2026US$434.5bUS$43.0b-US$793,798,697.6649.4x-547.3x10.1x
Thu, 22 Jan 2026US$474.6bUS$41.7b-US$167,378,491.2561.7x-2835.6x11.4x
Sat, 20 Dec 2025US$509.8bUS$41.5b-US$257,765,357.4666.6x-1977.7x12.3x
Mon, 17 Nov 2025US$487.2bUS$40.8b-US$509,570,071.9097.4x-956.2x11.9x
Wed, 15 Oct 2025US$550.3bUS$43.7bUS$432.0m84.7x1273.9x12.6x
Fri, 12 Sep 2025US$513.0bUS$43.9bUS$409.8m108.5x1251.8x11.7x
Sun, 10 Aug 2025US$490.5bUS$42.4bUS$306.2m110.4x1601.9x11.6x
Tue, 08 Jul 2025US$453.4bUS$36.5b-US$1,337,177,838.51123.8x-339.1x12.4x
Thu, 05 Jun 2025US$416.2bUS$36.4b-US$1,379,796,922.1095.7x-301.6x11.4x
Sat, 03 May 2025US$318.8bUS$34.5b-US$847,199,074.9482.4x-376.3x9.2x
Mon, 31 Mar 2025US$333.7bUS$38.9b-US$11,106,632.6783.4x-30044.1x8.6x
Wed, 26 Feb 2025US$367.6bUS$37.0bUS$18.1m67.9x20352.7x9.9x
Fri, 24 Jan 2025US$318.0bUS$31.7b-US$1,887,615,028.6399.1x-168.5x10x
Sun, 22 Dec 2024US$310.3bUS$32.1b-US$1,441,506,104.6974.7x-215.2x9.7x
Tue, 19 Nov 2024US$285.4bUS$31.6b-US$1,500,479,281.4899.3x-190.2x9x
Thu, 17 Oct 2024US$247.6bUS$30.7b-US$1,656,396,792.8568.8x-149.5x8.1x
Sat, 14 Sep 2024US$223.1bUS$30.6b-US$1,667,754,111.9658.5x-133.8x7.3x
Mon, 12 Aug 2024US$221.5bUS$30.2b-US$1,691,755,899.0833.1x-131x7.3x
Wed, 10 Jul 2024US$250.1bUS$33.9b-US$1,615,923,833.1723.3x-154.8x7.4x
Fri, 07 Jun 2024US$229.3bUS$33.9b-US$1,624,768,673.9221.9x-141.1x6.8x
Sun, 05 May 2024US$267.2bUS$33.0b-US$1,641,490,740.2727.9x-162.8x8.1x
Tue, 02 Apr 2024US$264.2bUS$28.5b-US$3,314,172,109.0166.1x-79.7x9.3x
Thu, 29 Feb 2024US$289.6bUS$28.2b-US$2,792,576,168.1829.8x-103.7x10.3x
Sat, 27 Jan 2024US$292.5bUS$29.0b-US$3,561,054,333.0020.4x-82.1x10.1x
Mon, 25 Dec 2023US$287.1bUS$29.0b-US$3,578,357,031.0020.4x-80.2x9.9x
Wed, 22 Nov 2023US$253.0bUS$28.5b-US$3,682,591,550.0021.6x-68.7x8.9x
Fri, 20 Oct 2023US$221.7bUS$27.7b-US$4,957,301,269.0021x-44.7x8x
Sun, 17 Sep 2023US$240.2bUS$27.7b-US$4,959,876,254.0020.5x-48.4x8.7x
Tue, 15 Aug 2023US$226.6bUS$27.4b-US$5,109,338,360.0020.9x-44.3x8.3x
Thu, 13 Jul 2023US$246.3bUS$27.5b-US$5,294,378,059.0020.6x-46.5x9x
Sat, 10 Jun 2023US$237.7bUS$27.5b-US$5,244,648,885.0018.5x-45.3x8.7x
Mon, 08 May 2023US$213.6bUS$30.4b-US$5,955,104,423.0018.9x-35.9x7x
Wed, 05 Apr 2023US$213.0bUS$31.1b-US$8,408,870,628.0023.2x-25.3x6.8x
Fri, 03 Mar 2023US$194.9bUS$30.9b-US$8,263,437,245.0021.9x-23.6x6.3x
Price to Earnings Ratio

-23.6x


Total Market Cap: US$194.9bTotal Earnings: -US$8,263,437,245.00Total Revenue: US$30.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Internet Services and Infrastructure Industry Price to Earnings3Y Average -1792.2x202420252026
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 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-0.35%
Tech-0.32%
IT-10.08%
Internet Services and Infrastructure-7.33%
Data Processing Services-1.23%
IT Consulting-12.60%
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$117.284.1%
+US$6.0b		1.6%PE124.2x
SHAZ SharonAI HoldingsUS$30.651,513.2%
+US$471.8m		-54.5%PS335.2x
RXT Rackspace TechnologyUS$1.49254.6%
+US$260.6m		-43.3%PS0.1x
BLZE BackblazeUS$4.371.9%
+US$4.6m		-38.3%PS1.8x

Latest News

OKTA
US$69.51
Okta
7D
-20.3%
1Y
-23.5%

OKTA: Cybersecurity Demand And 90 Day Catalyst Watch Will Drive Repricing

Analysts have slightly reduced their Okta fair value estimate by about $1 to $112.55, as lower sector valuation multiples and AI related sentiment have led to lower price targets, even though checks on Okta's business and profitability assumptions remain generally intact. Analyst Commentary Recent research on Okta reflects a mix of optimism about the company’s execution and caution around sector wide repricing and AI related sentiment.
APLD
US$30.00
Applied Digital
7D
-15.0%
1Y
232.6%

Applied Digital Corp. (APLD) The AI Factory Architect: Infrastructure at the Speed of Light

Applied Digital (APLD) is currently one of the most aggressive builders in the AI infrastructure gold rush, trading at $29.04 as of late February 2026. The company has successfully pivoted from its origins in crypto-mining to become a premier provider of high-performance computing (HPC) "AI Factories." Their massive Polaris Forge campus in North Dakota is now a cornerstone of the industry, having recently secured multi-billion-dollar, long-term lease agreements with hyperscalers and AI specialists like CoreWeave.
NET
US$160.19
Cloudflare
7D
-18.2%
1Y
8.2%
AKAM
US$98.76
Akamai Technologies
7D
-11.6%
1Y
27.2%
BLZE
US$4.37
Backblaze
7D
1.9%
1Y
-38.3%

BLZE: Startup Program And Stable Outlook Will Support Future Upside

Analysts have kept their Backblaze fair value estimate steady at $10.06 while slightly adjusting underlying assumptions such as discount rate, profit margin and future P/E. This has led to a modestly refined price target rather than a major reset.
SNOW
US$157.60
Snowflake
7D
-13.5%
1Y
-7.8%

SNOW: AI Partnerships And Consumption Strength Will Test Previously Fragile Premium Multiple

Snowflake's fair value estimate has been trimmed from $198.37 to $181.76 as analysts reset price targets lower across software, even while pointing to solid consumption trends, broadening AI related use cases, and sustained demand for data infrastructure. Analyst Commentary Recent Street research around Snowflake points to a more cautious tone even as many firms still highlight solid demand trends and broader AI related use cases.
DOCN
US$59.24
DigitalOcean Holdings
7D
-13.1%
1Y
59.4%
SHAZ
US$30.65
SharonAI Holdings
7D
1,513.2%
1Y
-54.5%
RXT
US$1.49
Rackspace Technology
7D
254.6%
1Y
-43.3%

RXT: Cloud Migrations Will Drive Future Upside Narrative Conviction

Narrative Update: Rackspace Technology Analyst Price Target Shift Analysts have modestly adjusted their $1.75 price target on Rackspace Technology, citing updated assumptions for revenue growth, profit margins and future P/E that reflect a slightly lower discount rate and a more refined outlook for the business. What's in the News Niterra EMEA GmbH selected Rackspace Technology to support a rapid migration to Google Cloud as part of its "Google first" IT strategy, focusing on unifying its global server environment on a single cloud platform (Key Developments).
MDB
US$305.37
MongoDB
7D
-17.1%
1Y
14.3%

MDB: Fair Outlook Balances AI Workload Opportunity With Execution And Expectation Risks

Narrative Update: MongoDB Our fair value estimate for MongoDB has been revised to $340.43, reflecting a higher revenue growth assumption of 18.87% and a very large future P/E multiple, as analysts point to broadly supportive price target moves tied to Atlas growth expectations, AI driven demand, and a generally constructive multi year setup in recent research. Analyst Commentary Recent research on MongoDB continues to lean constructive, with several firms lifting their price targets and highlighting the company as a key beneficiary of database modernization and artificial intelligence related workloads.
SHOP
US$117.28
Shopify
7D
4.1%
1Y
1.6%

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.
CRWV
US$90.84
CoreWeave
7D
-5.4%
1Y
n/a