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U.S. Internet Services and Infrastructure Industry Analysis

UpdatedJan 27, 2026
DataAggregated Company Financials
Companies44
  • 7D-3.9%
  • 3M-16.0%
  • 1Y29.2%
  • YTDn/a

Over the last 7 days, the Internet Services and Infrastructure industry has dropped 5.8%, driven by Shopify declining 13%. Meanwhile, Twilio actually outperformed within the industry, gaining 13% in the last week. Over the past 12 months, the industry was up 27%. Earnings are forecast to grow by 30% 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, 27 Jan 2026US$471.4bUS$41.7b-US$167,449,156.4163.5x-2815.3x11.3x
Thu, 25 Dec 2025US$520.1bUS$41.5b-US$257,968,505.9965.4x-2016x12.5x
Sat, 22 Nov 2025US$465.8bUS$41.0b-US$322,639,504.9365.1x-1443.7x11.4x
Mon, 20 Oct 2025US$543.4bUS$43.7bUS$431.6m87.4x1258.9x12.4x
Wed, 17 Sep 2025US$525.6bUS$43.9bUS$409.6m119.3x1283.2x12x
Fri, 15 Aug 2025US$488.7bUS$43.2bUS$354.1m111.4x1379.8x11.3x
Sun, 13 Jul 2025US$417.9bUS$36.5b-US$1,337,376,033.55123.3x-312.5x11.5x
Tue, 10 Jun 2025US$426.8bUS$36.5b-US$1,337,002,076.60101x-319.2x11.7x
Thu, 08 May 2025US$322.5bUS$34.5b-US$849,699,423.7960.7x-379.6x9.3x
Sat, 05 Apr 2025US$310.7bUS$38.9b-US$6,803,740.4458.6x-45660.9x8x
Mon, 03 Mar 2025US$364.2bUS$37.2b-US$131,658,711.0469.7x-2766.5x9.8x
Wed, 29 Jan 2025US$325.3bUS$31.7b-US$1,893,449,015.14109.7x-171.8x10.3x
Fri, 27 Dec 2024US$311.4bUS$32.1b-US$1,441,293,208.0976.4x-216.1x9.7x
Sun, 24 Nov 2024US$309.6bUS$31.9b-US$1,526,981,491.40103.3x-202.7x9.7x
Tue, 22 Oct 2024US$248.8bUS$30.7b-US$1,656,415,456.0470.1x-150.2x8.1x
Thu, 19 Sep 2024US$227.0bUS$30.6b-US$1,669,948,697.7059.7x-135.9x7.4x
Sat, 17 Aug 2024US$233.1bUS$30.2b-US$1,692,763,112.2637.8x-137.7x7.7x
Mon, 15 Jul 2024US$243.8bUS$33.9b-US$1,619,719,372.7323.6x-150.5x7.2x
Wed, 12 Jun 2024US$229.4bUS$33.9b-US$1,622,428,655.2921.8x-141.4x6.8x
Fri, 10 May 2024US$251.1bUS$33.4b-US$1,677,351,000.6828.7x-149.7x7.5x
Sun, 07 Apr 2024US$258.1bUS$28.5b-US$3,314,546,005.9367.8x-77.9x9x
Tue, 05 Mar 2024US$274.8bUS$28.5b-US$2,645,649,748.5230.6x-103.9x9.6x
Thu, 01 Feb 2024US$296.8bUS$29.1b-US$3,561,372,427.0020.4x-83.3x10.2x
Sat, 30 Dec 2023US$293.5bUS$29.0b-US$3,581,125,464.0020.4x-81.9x10.1x
Mon, 27 Nov 2023US$260.3bUS$28.5b-US$3,696,350,650.0020.8x-70.4x9.1x
Wed, 25 Oct 2023US$212.7bUS$27.7b-US$4,957,193,338.0021.2x-42.9x7.7x
Fri, 22 Sep 2023US$219.1bUS$27.7b-US$4,957,791,220.0020.6x-44.2x7.9x
Sun, 20 Aug 2023US$216.8bUS$27.2b-US$5,206,096,455.0020.8x-41.6x8x
Tue, 18 Jul 2023US$254.2bUS$27.5b-US$5,294,105,760.0020x-48x9.3x
Thu, 15 Jun 2023US$250.6bUS$27.5b-US$5,241,945,735.0019x-47.8x9.1x
Sat, 13 May 2023US$219.8bUS$27.4b-US$5,319,161,168.0018.9x-41.3x8x
Mon, 10 Apr 2023US$204.0bUS$31.1b-US$8,346,599,355.0023.6x-24.4x6.6x
Wed, 08 Mar 2023US$201.3bUS$30.9b-US$8,259,338,760.0022.3x-24.4x6.5x
Fri, 03 Feb 2023US$227.2bUS$30.0b-US$8,009,978,657.0028.3x-28.4x7.6x
Price to Earnings Ratio

-28.4x


Total Market Cap: US$227.2bTotal Earnings: -US$8,009,978,657.00Total Revenue: US$30.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Internet Services and Infrastructure Industry Price to Earnings3Y Average -1745.7x202420252026
Current Industry PE
  • Investors are optimistic on the American Internet Services and Infrastructure industry, and appear confident in long term growth rates.
  • The 3-year average PS ratio of 9.3x is lower than the industry's current PS ratio of 11.3x.
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 Market0.12%
Tech-0.16%
IT-2.90%
Internet Services and Infrastructure-3.90%
IT Consulting-2.01%
Data Processing Services-2.10%
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
TWLO TwilioUS$133.9712.5%
+US$2.3b		-3.6%PE302.2x
NET CloudflareUS$189.352.8%
+US$1.8b		49.7%PS32.9x
GDS GDS HoldingsUS$46.5120.7%
+US$1.6b		111.8%PE55.6x
MDB MongoDBUS$411.252.9%
+US$935.2m		55.4%PS14.4x
AKAM Akamai TechnologiesUS$98.665.5%
+US$743.8m		-1.0%PE28x

Latest News

KC
US$13.34
Kingsoft Cloud Holdings
7D
12.1%
1Y
21.3%

KC: Higher Profitability Assumptions Will Support Future Upside Potential

Analysts have nudged their fair value estimate for Kingsoft Cloud Holdings slightly higher to US$18.14 from US$18.04, citing updated assumptions for discount rate, revenue growth, profit margin and future P/E expectations. What's in the News A board meeting is scheduled for November 19, 2025, to review and approve the unaudited third quarter results for Kingsoft Cloud Holdings, its subsidiaries, and consolidated affiliated entities for the three months ended September 30, 2025, and to consider their publication (Key Developments).
BLZE
US$4.81
Backblaze
7D
-1.0%
1Y
-21.3%

BLZE: Lower Price Expectations Will Still Support Future Upside Potential

Narrative Update Analysts have trimmed their price target on Backblaze to US$9 from US$11, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E that modestly adjust their valuation framework. Analyst Commentary Recent research updates reflect a more cautious stance on Backblaze's upside, with the price target reduced to US$9 from US$11 while a positive rating on the shares is maintained.
DOCN
US$58.94
DigitalOcean Holdings
7D
11.7%
1Y
46.8%

DOCN: 2026 Software Rebound And AI Deals Will Drive Bullish Repricing

Analysts have raised their price target on DigitalOcean Holdings by US$14 to US$63, citing stable macro and IT spending, relatively low software valuations, and the stock's current out-of-favor status as key elements of their rationale. Analyst Commentary Recent Street research on DigitalOcean Holdings highlights a more constructive tone from bullish analysts, who are pointing to a combination of stock-specific and sector-wide factors as the basis for their updated views.
CMRC
US$3.27
Commerce.com
7D
-12.3%
1Y
-48.8%

CMRC: Higher Margins And Agentic Commerce Push Will Support Future Upside

Analysts have reduced their price target on Commerce.com to about $6.50 from roughly $7.56, citing updated views on fair value, a higher discount rate, slightly softer revenue growth assumptions, improved profit margin expectations, and a lower future P/E outlook following recent research, including a downgrade at a major firm. Analyst Commentary Bullish Takeaways Bullish analysts see improved profit margin expectations as a key support for the revised fair value, arguing that better cost control could help offset softer revenue assumptions.
APLD
US$36.18
Applied Digital
7D
-3.3%
1Y
458.8%

APLD: Hyperscale Power Contracts Will Redefine Pure Play AI Infrastructure Narrative

Narrative Update: Applied Digital The analyst price target for Applied Digital has shifted from about US$24.00 to roughly US$56.11. Analysts point to recent bullish initiations, higher targets tied to strong hyperscale demand, progress at PF1 and PF2, and the company's positioning as a scalable AI infrastructure landlord as key drivers of the change.
NET
US$189.35
Cloudflare
7D
2.8%
1Y
49.7%

NET: AI Security Platform And JD Cloud Expansion Will Drive Future Upside

Cloudflare's updated fair value estimate has eased to about $232.78 from $242.46. This reflects a series of recent analyst price target trims that balance earlier optimism around AI, security and SASE traction with more cautious views on sector sentiment and valuation, and slightly lower assumed future P/E levels.
RXT
US$0.76
Rackspace Technology
7D
-21.6%
1Y
-67.8%

RXT: AI Services And Cloud Migrations Will Support Future Upside Potential

Analysts have nudged their price target for Rackspace Technology slightly higher, citing modest tweaks to long term revenue growth, profit margin and future P/E assumptions that together support a refined fair value estimate of US$1.75 per share. What's in the News Niterra EMEA GmbH selected Rackspace Technology to support a rapid migration to Google Cloud, including consolidating three on premises data centers in Dubai, Johannesburg and Frankfurt into a single cloud platform (Client announcement).
MDB
US$411.25
MongoDB
7D
2.9%
1Y
55.4%

MDB: Atlas And AI Adoption Will Support Upcoming Leadership Transition

Analysts have modestly raised their implied outlook on MongoDB, with price targets now clustering in the US$405 to US$500 range. They cite stronger Atlas momentum, improving profitability, and confidence in the company’s AI positioning and new leadership.
WIX
US$89.73
Wix.com
7D
11.9%
1Y
-61.7%

WIX: Elevated AI Spending Will Reshape Margins Yet Support Long Term Upside

Analysts have trimmed their fair value estimate for Wix.com from US$160 to about US$115, as higher discount rate assumptions, lower projected profit margins linked to elevated AI and Base44 investment, and tempered revenue growth expectations now offset still supportive views on the company's future P/E and long term AI opportunity. Analyst Commentary Recent Street research on Wix.com has centered on how heavier AI and Base44 spending is reshaping the risk and reward profile, with several bearish analysts cutting price targets while still acknowledging long term potential in AI driven website building and related services.
TWLO
US$133.97
Twilio
7D
12.5%
1Y
-3.6%

TWLO: Improved Execution And Partnerships Are Expected To Support Stronger Future Returns

Twilio's updated fair value estimate has inched up to US$194.38 from US$192.44 as analysts incorporate slightly higher long term growth and margin assumptions, reflected in recent price target increases and more constructive post earnings commentary. Analyst Commentary Bullish analysts are framing the recent fair value move in the context of a more constructive view on Twilio's execution and longer term growth path, citing recent price target changes and post earnings commentary.
CRWV
US$98.31
CoreWeave
7D
-2.9%
1Y
n/a
AKAM
US$98.66
Akamai Technologies
7D
5.5%
1Y
-1.0%

AKAM: Fair Outlook As Security And Compute Transition Reaches Key Inflection Point

Analysts have lifted their price target for Akamai Technologies by about US$6 to roughly US$101, citing a stronger profit outlook, a slightly lower required return, and growing conviction in the company’s transition toward security, compute, and AI infrastructure offerings. Analyst Commentary Recent Street research on Akamai highlights a mix of enthusiasm around its shift toward security, compute, and AI infrastructure, alongside some caution about the investment needed to support that shift.
SHOP
US$136.31
Shopify
7D
-12.5%
1Y
26.9%

SHOP: AI Monetization And Operating Leverage Will Support Measured Upside Into 2026

Analysts have nudged our implied fair value for Shopify to about US$179.49 per share, up roughly US$4 from the prior US$175.43. This reflects Street research that highlights stronger top line potential, rising AI related monetization and operating leverage, partially offset by more cautious views on valuation, margins and already high expectations.
GDS
US$46.51
GDS Holdings
7D
20.7%
1Y
111.8%

GDS: Execution Risk Around 300MW 2025 Leasing Will Pressure Shares

Analysts have slightly reduced their price targets on GDS Holdings, with recent moves such as TD Cowen trimming its target to US$37 and a new Outperform initiation at Macquarie with a US$46.70 target, reflecting updated views on mixed 3Q25 results, maintained 2025 guidance, expectations for 300MW of 2025 leasing, and higher installs in 2026. Analyst Commentary Recent Street research shows a mixed but cautious tone around GDS Holdings, with some bearish analysts trimming expectations even as others initiate coverage with constructive views.
TCX
US$23.76
Tucows
7D
-4.0%
1Y
45.9%

The Market Doesn't Like What It Sees From Tucows Inc.'s (NASDAQ:TCX) Revenues Yet

Dec 16
The Market Doesn't Like What It Sees From Tucows Inc.'s (NASDAQ:TCX) Revenues Yet
DTST
US$4.29
Data Storage
7D
-4.0%
1Y
-1.6%