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U.S. Internet Services and Infrastructure Industry Analysis

UpdatedMar 04, 2026
DataAggregated Company Financials
Companies45
  • 7D-2.0%
  • 3M-21.0%
  • 1Y11.9%
  • YTDn/a

Over the last 7 days, the Internet Services and Infrastructure industry has dropped 3.9%, driven by CoreWeave declining 26%. This takes the industry's 12 month performance to a gain of 8.2%. 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
Thu, 05 Mar 2026US$418.9bUS$44.1b-US$1,131,357,853.3451.3x-370.3x9.5x
Sat, 31 Jan 2026US$465.0bUS$41.7b-US$167,466,206.9259.9x-2776.9x11.2x
Mon, 29 Dec 2025US$516.7bUS$41.5b-US$258,030,208.6665.4x-2002.3x12.4x
Wed, 26 Nov 2025US$487.7bUS$41.0b-US$322,815,079.0162.8x-1510.8x11.9x
Fri, 24 Oct 2025US$543.1bUS$43.7bUS$431.5m92.6x1258.8x12.4x
Sun, 21 Sep 2025US$537.3bUS$43.9bUS$398.9m98x1347.1x12.2x
Tue, 19 Aug 2025US$471.0bUS$43.2bUS$359.5m115.7x1310.3x10.9x
Thu, 17 Jul 2025US$435.9bUS$36.5b-US$1,337,040,381.42122.6x-326x12x
Sat, 14 Jun 2025US$418.3bUS$36.5b-US$1,336,977,212.0389.4x-312.8x11.5x
Mon, 12 May 2025US$323.9bUS$35.1b-US$1,301,210,103.8967.1x-248.9x9.2x
Wed, 09 Apr 2025US$289.3bUS$38.9b-US$3,990,923.7055.6x-72495.3x7.4x
Fri, 07 Mar 2025US$361.9bUS$37.4bUS$1.4m73.1x259147.8x9.7x
Sun, 02 Feb 2025US$347.1bUS$31.7b-US$1,902,253,303.65109.1x-182.4x10.9x
Tue, 31 Dec 2024US$307.2bUS$31.7b-US$1,757,059,249.2199.7x-174.8x9.7x
Thu, 28 Nov 2024US$316.7bUS$32.0b-US$1,564,249,397.61106.5x-202.5x9.9x
Sat, 26 Oct 2024US$240.9bUS$30.7b-US$1,656,297,427.2467x-145.4x7.9x
Mon, 23 Sep 2024US$234.0bUS$30.7b-US$1,675,121,051.6960.8x-139.7x7.6x
Wed, 21 Aug 2024US$237.4bUS$30.2b-US$1,699,941,267.6737.5x-139.7x7.9x
Fri, 19 Jul 2024US$244.2bUS$33.9b-US$1,618,071,237.0423.4x-150.9x7.2x
Sun, 16 Jun 2024US$235.7bUS$33.9b-US$1,622,053,982.0421.7x-145.3x7x
Tue, 14 May 2024US$247.2bUS$33.5b-US$1,596,761,913.0623x-154.8x7.4x
Thu, 11 Apr 2024US$258.9bUS$28.5b-US$3,318,967,202.7564x-78x9.1x
Sat, 09 Mar 2024US$265.9bUS$28.6b-US$2,609,908,080.8530.7x-101.9x9.3x
Mon, 05 Feb 2024US$302.3bUS$29.0b-US$3,557,538,960.0020.4x-85x10.4x
Wed, 03 Jan 2024US$275.9bUS$29.0b-US$3,577,553,003.0020.4x-77.1x9.5x
Fri, 01 Dec 2023US$268.5bUS$28.8b-US$3,583,478,733.0020.4x-74.9x9.3x
Sun, 29 Oct 2023US$202.4bUS$27.7b-US$4,957,052,079.0021.5x-40.8x7.3x
Tue, 26 Sep 2023US$219.5bUS$27.7b-US$4,957,552,864.0020.6x-44.3x7.9x
Thu, 24 Aug 2023US$228.1bUS$27.2b-US$5,145,393,274.0020.8x-44.3x8.4x
Sat, 22 Jul 2023US$248.5bUS$27.5b-US$5,292,733,602.0019.9x-47x9x
Mon, 19 Jun 2023US$250.2bUS$27.5b-US$5,244,908,869.0018.8x-47.7x9.1x
Wed, 17 May 2023US$221.6bUS$27.4b-US$5,317,151,844.0019.2x-41.7x8.1x
Fri, 14 Apr 2023US$205.1bUS$31.1b-US$8,346,651,131.0024.8x-24.6x6.6x
Sun, 12 Mar 2023US$188.0bUS$31.0b-US$8,243,955,918.0021.5x-22.8x6.1x
Price to Earnings Ratio

-22.8x


Total Market Cap: US$188.0bTotal Earnings: -US$8,243,955,918.00Total Revenue: US$31.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Internet Services and Infrastructure Industry Price to Earnings3Y Average -1795.7x202420252026
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 9.4x.
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-1.39%
Tech-2.43%
IT2.21%
Internet Services and Infrastructure-2.03%
IT Consulting6.75%
Data Processing Services5.19%
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$129.657.8%
+US$12.2b		22.1%PE137.4x
NET CloudflareUS$185.898.2%
+US$5.0b		29.3%PS30.2x
VRSN VeriSignUS$238.8311.3%
+US$2.2b		-0.9%PE26.5x
GDDY GoDaddyUS$88.6612.1%
+US$1.3b		-49.7%PE13.5x
WIX Wix.comUS$83.7827.7%
+US$994.0m		-57.6%PE33x

Latest News

VNET
US$10.26
VNET Group
7D
-13.0%
1Y
-17.7%
WIX
US$83.78
Wix.com
7D
27.7%
1Y
-57.6%
SNOW
US$168.26
Snowflake
7D
-0.6%
1Y
-5.1%
FSLY
US$20.04
Fastly
7D
10.4%
1Y
186.7%

FSLY: Execution Improvements And Richer P/E Multiple Will Test Fair Value Assumptions

Fastly's analyst fair value estimate has moved to $20 from $15, with analysts pointing to improving execution, higher assumed revenue growth and margins, and a richer future P/E multiple as key drivers behind the higher price targets across recent research updates. Analyst Commentary Recent research activity around Fastly reflects a clear shift toward more constructive views, with several bullish analysts lifting their price targets and highlighting what they see as better execution and room for valuation to rerate.
DOCN
US$52.26
DigitalOcean Holdings
7D
-11.8%
1Y
25.8%
GDS
US$38.24
GDS Holdings
7D
-15.0%
1Y
-2.1%
SHOP
US$129.65
Shopify
7D
7.8%
1Y
22.1%

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$88.66
GoDaddy
7D
12.1%
1Y
-49.7%

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.
MDB
US$248.01
MongoDB
7D
-21.3%
1Y
-6.1%
CRWV
US$79.50
CoreWeave
7D
-18.9%
1Y
n/a
AKAM
US$102.98
Akamai Technologies
7D
2.9%
1Y
24.3%
VRSN
US$238.83
VeriSign
7D
11.3%
1Y
-0.9%

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.
NET
US$185.89
Cloudflare
7D
8.2%
1Y
29.3%
OKTA
US$71.74
Okta
7D
-1.7%
1Y
-38.3%

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.
KC
US$12.13
Kingsoft Cloud Holdings
7D
-6.3%
1Y
-29.5%

KC: Higher Margin Outlook And Lower Discount Rate Will Support Shares

Analysts have raised their price target for Kingsoft Cloud Holdings from about $14.21 to roughly $15.60, citing updated assumptions for revenue growth, profit margins, a slightly lower discount rate, and a modest adjustment to the expected future P/E multiple. Valuation Changes Fair Value: updated from $14.21 to $15.60, representing a modest upward adjustment to the modelled intrinsic value per share.
TWLO
US$122.99
Twilio
7D
3.9%
1Y
5.3%

TWLO: Future Performance Will Reflect Strengthening Organic Growth And Execution Confidence

The updated analyst price target for Twilio is now about $5 higher than before, as analysts factor in recent research that highlights strong Q4 execution, improving organic growth expectations, and a more balanced view on long term profitability and valuation multiples. Analyst Commentary Recent research on Twilio reflects a mix of optimism about execution and growth, alongside more conservative adjustments to valuation targets.