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U.S. Internet Services and Infrastructure Industry Analysis

UpdatedMar 07, 2026
DataAggregated Company Financials
Companies45
  • 7D4.3%
  • 3M-15.2%
  • 1Y26.3%
  • YTDn/a

The Internet Services and Infrastructure is pretty flat in the last 7 days, but Shopify has stood out, gaining 7.8%. The past year has been better, since the industry has gained 26% in that time. As for the next few years, earnings are expected to grow by 28% 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
Sat, 07 Mar 2026US$439.2bUS$44.4b-US$1,090,928,999.1554.6x-402.6x9.9x
Mon, 02 Feb 2026US$455.0bUS$41.7b-US$167,466,206.9259.9x-2717.2x10.9x
Wed, 31 Dec 2025US$503.7bUS$41.5b-US$257,246,040.1165.3x-1958x12.1x
Fri, 28 Nov 2025US$495.1bUS$41.0b-US$322,848,471.7863.9x-1533.5x12.1x
Sun, 26 Oct 2025US$573.4bUS$43.7bUS$431.4m93.5x1329.1x13.1x
Tue, 23 Sep 2025US$538.4bUS$43.9bUS$398.8m96.9x1349.9x12.3x
Thu, 21 Aug 2025US$461.1bUS$43.2bUS$359.2m111.6x1283.6x10.7x
Sat, 19 Jul 2025US$449.5bUS$36.5b-US$1,336,641,772.15123.7x-336.3x12.3x
Mon, 16 Jun 2025US$414.3bUS$36.5b-US$1,336,977,212.0389.4x-309.9x11.4x
Wed, 14 May 2025US$353.6bUS$35.2b-US$1,302,893,591.2171.8x-271.4x10.1x
Fri, 11 Apr 2025US$324.2bUS$38.9b-US$5,172,115.9757.4x-62689.6x8.3x
Sun, 09 Mar 2025US$333.5bUS$37.4b-US$629,422.6172.6x-529827.7x8.9x
Tue, 04 Feb 2025US$346.9bUS$31.7b-US$1,902,207,405.54106.9x-182.4x10.9x
Thu, 02 Jan 2025US$300.8bUS$31.7b-US$1,757,138,112.5099.3x-171.2x9.5x
Sat, 30 Nov 2024US$320.7bUS$32.0b-US$1,564,471,561.6077.2x-205x10x
Mon, 28 Oct 2024US$240.3bUS$30.7b-US$1,656,263,720.0167x-145.1x7.8x
Wed, 25 Sep 2024US$238.5bUS$30.7b-US$1,678,610,071.9859.6x-142.1x7.8x
Fri, 23 Aug 2024US$239.5bUS$30.4b-US$1,766,270,448.8536.6x-135.6x7.9x
Sun, 21 Jul 2024US$237.9bUS$33.9b-US$1,616,357,367.4322.9x-147.2x7x
Tue, 18 Jun 2024US$235.7bUS$33.9b-US$1,621,952,648.7821.7x-145.3x7x
Thu, 16 May 2024US$246.3bUS$33.5b-US$1,599,230,657.2323.4x-154x7.4x
Sat, 13 Apr 2024US$254.7bUS$28.6b-US$3,374,184,616.5564.4x-75.5x8.9x
Mon, 11 Mar 2024US$265.9bUS$28.6b-US$2,609,903,434.9730.7x-101.9x9.3x
Wed, 07 Feb 2024US$287.2bUS$27.6b-US$4,019,481,106.4418.2x-71.4x10.4x
Fri, 05 Jan 2024US$269.5bUS$29.0b-US$3,576,265,729.0020.4x-75.3x9.3x
Sun, 03 Dec 2023US$275.0bUS$28.9b-US$3,633,964,409.0020.6x-75.7x9.5x
Tue, 31 Oct 2023US$203.8bUS$27.7b-US$4,957,332,926.0021.5x-41.1x7.4x
Thu, 28 Sep 2023US$216.9bUS$27.7b-US$4,957,552,471.0020.6x-43.7x7.8x
Sat, 26 Aug 2023US$224.3bUS$27.4b-US$5,127,916,083.0020.8x-43.7x8.2x
Mon, 24 Jul 2023US$248.5bUS$27.5b-US$5,292,733,992.0019.9x-47x9x
Wed, 21 Jun 2023US$246.7bUS$27.5b-US$5,240,403,320.0018.8x-47.1x9x
Fri, 19 May 2023US$230.7bUS$27.3b-US$5,312,158,231.0018.6x-43.4x8.4x
Sun, 16 Apr 2023US$205.6bUS$31.1b-US$8,346,949,190.0024.6x-24.6x6.6x
Tue, 14 Mar 2023US$191.3bUS$31.1b-US$8,249,764,101.0021.1x-23.2x6.2x
Price to Earnings Ratio

-23.2x


Total Market Cap: US$191.3bTotal Earnings: -US$8,249,764,101.00Total Revenue: US$31.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Internet Services and Infrastructure Industry Price to Earnings3Y Average -1796.3x202420252026
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-2.31%
Tech-0.53%
IT4.94%
Internet Services and Infrastructure4.32%
IT Consulting5.56%
Data Processing Services3.45%
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$130.207.8%
+US$12.3b		30.0%PE137.9x
NET CloudflareUS$195.1913.4%
+US$8.1b		54.0%PS31.7x
SNOW SnowflakeUS$180.487.2%
+US$4.1b		13.6%PS13.2x
WIX Wix.comUS$93.8933.3%
+US$1.6b		-49.7%PE108.1x
VRSN VeriSignUS$243.786.9%
+US$1.5b		1.4%PE27.1x

Latest News

CRWV
US$72.99
CoreWeave
7D
-8.3%
1Y
n/a
WIX
US$93.89
Wix.com
7D
33.3%
1Y
-49.7%
OKTA
US$80.72
Okta
7D
11.3%
1Y
-28.2%
NET
US$195.19
Cloudflare
7D
13.4%
1Y
54.0%

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$54.45
DigitalOcean Holdings
7D
-2.9%
1Y
36.5%

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.
VNET
US$9.62
VNET Group
7D
-10.8%
1Y
-16.1%
MDB
US$270.47
MongoDB
7D
-17.7%
1Y
44.1%

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$25.13
Applied Digital
7D
-7.8%
1Y
246.2%

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.
TWLO
US$128.03
Twilio
7D
5.8%
1Y
20.7%

TWLO: AI Engagement And Margin Progress Are Expected To Drive Future Upside

Our updated narrative trims Twilio's fair value estimate to $185 from $194.38, reflecting a mix of lower modeled future P/E and a slightly higher discount rate, even as analysts highlight AI related demand, stronger organic growth, and expanding margins as key supports for the story and recent price target revisions around the $155 to $160 range. Analyst Commentary Recent Street research on Twilio has leaned constructive, with several bullish analysts highlighting AI exposure, execution on organic growth, and margin progress as key supports for current valuations and updated price targets in the mid US$150 range.
SNOW
US$180.48
Snowflake
7D
7.2%
1Y
13.6%
GDS
US$40.87
GDS Holdings
7D
-1.1%
1Y
12.4%
SHOP
US$130.20
Shopify
7D
7.8%
1Y
30.0%

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$93.95
GoDaddy
7D
7.8%
1Y
-46.4%

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$243.78
VeriSign
7D
6.9%
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$19.50
SharonAI Holdings
7D
-21.4%
1Y
n/a
KC
US$11.99
Kingsoft Cloud Holdings
7D
-11.1%
1Y
-31.6%

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.