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U.S. Internet Services and Infrastructure Industry Analysis

UpdatedFeb 21, 2026
DataAggregated Company Financials
Companies45
  • 7D-1.6%
  • 3M-7.4%
  • 1Y7.9%
  • YTDn/a

Over the last 7 days, the Internet Services and Infrastructure industry has dropped 1.6%, driven by a pullback from Cloudflare of 9.6%. Meanwhile, Shopify actually outperformed within the industry, gaining 12% in the last week. In the past year, the industry has gained 7.9%. 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
Sat, 21 Feb 2026US$448.3bUS$43.0b-US$793,797,639.9351.7x-564.8x10.4x
Mon, 19 Jan 2026US$499.6bUS$41.6b-US$167,343,766.0559.5x-2985.8x12x
Wed, 17 Dec 2025US$492.2bUS$41.5b-US$257,756,576.1756x-1909.5x11.9x
Fri, 14 Nov 2025US$520.0bUS$40.8b-US$493,951,904.8897.4x-1052.8x12.7x
Sun, 12 Oct 2025US$537.8bUS$43.7bUS$431.9m83.7x1245.4x12.3x
Tue, 09 Sep 2025US$499.6bUS$43.9bUS$410.1m107.5x1218.1x11.4x
Thu, 07 Aug 2025US$446.2bUS$37.4b-US$536,415,242.10131.5x-831.8x11.9x
Sat, 05 Jul 2025US$453.4bUS$36.5b-US$1,337,504,660.88127.1x-339x12.4x
Mon, 02 Jun 2025US$395.1bUS$36.4b-US$1,382,667,445.0388x-285.7x10.9x
Wed, 30 Apr 2025US$339.9bUS$38.9bUS$14.3m64.6x23821.8x8.7x
Fri, 28 Mar 2025US$346.4bUS$39.3b-US$152,723,707.9585.8x-2268x8.8x
Sun, 23 Feb 2025US$374.4bUS$37.0bUS$17.8m69.5x21036.9x10.1x
Tue, 21 Jan 2025US$308.9bUS$31.7b-US$1,882,602,304.7196.6x-164.1x9.7x
Thu, 19 Dec 2024US$329.8bUS$32.1b-US$1,443,020,803.8574.8x-228.6x10.3x
Sat, 16 Nov 2024US$289.6bUS$31.6b-US$1,500,479,281.48103.1x-193x9.2x
Mon, 14 Oct 2024US$253.0bUS$30.7b-US$1,665,418,515.4267.1x-151.9x8.2x
Wed, 11 Sep 2024US$215.9bUS$30.6b-US$1,663,355,972.4156.1x-129.8x7x
Fri, 09 Aug 2024US$213.9bUS$30.1b-US$1,696,943,966.8832.5x-126.1x7.1x
Sun, 07 Jul 2024US$251.3bUS$33.9b-US$1,616,626,192.7823.3x-155.4x7.4x
Tue, 04 Jun 2024US$226.8bUS$33.8b-US$1,561,681,347.5422.1x-145.2x6.7x
Thu, 02 May 2024US$246.8bUS$28.6b-US$3,373,610,812.5860.6x-73.2x8.6x
Sat, 30 Mar 2024US$264.2bUS$28.5b-US$3,315,932,561.8666.6x-79.7x9.3x
Mon, 26 Feb 2024US$287.0bUS$28.2b-US$2,792,713,648.9229.8x-102.8x10.2x
Wed, 24 Jan 2024US$291.7bUS$29.0b-US$3,559,125,232.0020.4x-82x10x
Fri, 22 Dec 2023US$283.4bUS$29.0b-US$3,578,012,289.0020.4x-79.2x9.8x
Sun, 19 Nov 2023US$249.6bUS$28.5b-US$3,681,543,322.0021.6x-67.8x8.7x
Tue, 17 Oct 2023US$228.1bUS$27.7b-US$4,957,498,925.0020.7x-46x8.2x
Thu, 14 Sep 2023US$243.9bUS$27.7b-US$4,959,931,789.0020.5x-49.2x8.8x
Sat, 12 Aug 2023US$224.4bUS$27.5b-US$5,112,773,657.0020.3x-43.9x8.2x
Mon, 10 Jul 2023US$237.5bUS$27.4b-US$5,289,710,924.0018.9x-44.9x8.7x
Wed, 07 Jun 2023US$247.7bUS$27.5b-US$5,245,356,714.0017.2x-47.2x9x
Fri, 05 May 2023US$213.5bUS$30.8b-US$7,867,221,046.0018.6x-27.1x6.9x
Sun, 02 Apr 2023US$215.2bUS$31.1b-US$8,409,810,058.0023.4x-25.6x6.9x
Tue, 28 Feb 2023US$197.6bUS$30.6b-US$8,274,003,877.0021.8x-23.9x6.5x
Price to Earnings Ratio

-23.9x


Total Market Cap: US$197.6bTotal Earnings: -US$8,274,003,877.00Total Revenue: US$30.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Internet Services and Infrastructure Industry Price to Earnings3Y Average -1790.7x202420252026
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 9.4x is lower than the industry's current PS ratio of 10.4x.
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 Market0.99%
Tech1.19%
IT-2.20%
Internet Services and Infrastructure-1.59%
Data Processing Services1.20%
IT Consulting-2.80%
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$126.2012.0%
+US$17.6b		9.2%PE133.7x
SHAZ SharonAI HoldingsUS$30.771,519.5%
+US$473.7m		-54.3%PS336.5x
RXT Rackspace TechnologyUS$1.68299.8%
+US$306.9m		-42.1%PS0.2x
GDDY GoDaddyUS$90.641.7%
+US$205.4m		-47.8%PE14.8x
TWLO TwilioUS$113.140.1%
+US$21.2m		-1.0%PE507x

Latest News

SNOW
US$172.50
Snowflake
7D
-5.4%
1Y
-3.0%
AKAM
US$94.17
Akamai Technologies
7D
-15.7%
1Y
22.7%
VNET
US$11.85
VNET Group
7D
-14.1%
1Y
-18.8%

VNET: Private REIT Project Will Drive Future Data Center Expansion

Analysts have nudged their price target for VNET Group higher to $15.31 from $15.07. This reflects updated assumptions around discount rates, long term growth, margins and future P/E multiples.
CMRC
US$3.02
Commerce.com
7D
9.0%
1Y
-51.5%

CMRC: Global Checkout And AI Shopping Protocols Will Drive Future Upside

Analysts have reduced their price target on Commerce.com to $2, down $1 from the prior $3 level. They cite ongoing concerns around decelerating recurring revenue and sales growth, which they say leave the core investment story largely unchanged.
SHAZ
US$30.77
SharonAI Holdings
7D
1,519.5%
1Y
-54.3%
RXT
US$1.68
Rackspace Technology
7D
299.8%
1Y
-42.1%

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).
BLZE
US$4.40
Backblaze
7D
2.6%
1Y
-39.0%
APLD
US$29.04
Applied Digital
7D
-17.7%
1Y
172.7%

APLD: Hyperscale Power Agreements Will Define Future Pure Play AI Infrastructure Narrative

Narrative Update on Applied Digital The analyst price target for Applied Digital has shifted from $56.11 to $58.00, with analysts citing stronger demand for AI infrastructure, progress on hyperscaler and colocation leases, and continued Q2 momentum as key supports for the updated outlook. Analyst Commentary Bullish analysts remain broadly constructive on Applied Digital, pointing to recent contract activity, funding support, and AI data center buildout as key parts of the story.
NET
US$177.14
Cloudflare
7D
-9.6%
1Y
16.6%

NET: AI Infrastructure Hype Will Outpace Real Security Monetization Risks

Cloudflare's fair value estimate has moved from $132.68 to $145.00 as analysts balance a mix of lower individual price targets, fresh upgrades, and continued interest in the stock's role in AI infrastructure and security workloads. Analyst Commentary Recent Street research on Cloudflare reflects a split view, with some firms lifting targets or upgrading on AI infrastructure and security demand while a group of more cautious voices trims expectations and stresses execution and valuation risks.
MDB
US$344.56
MongoDB
7D
-6.5%
1Y
26.1%

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.
TWLO
US$113.14
Twilio
7D
0.1%
1Y
-1.0%

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.
GDDY
US$90.64
GoDaddy
7D
1.7%
1Y
-47.8%

GDDY: AI Synergy Phase Will Support Steady Margins And Long Term Returns

Analysts have trimmed their average price target for GoDaddy by $14 to around $130, citing updated discount rate and valuation assumptions, while also highlighting potential for steadier revenue growth and profit margins ahead. Analyst Commentary Recent research updates give you a mixed but useful read on how professionals are thinking about GoDaddy at the new, lower price targets around US$130.
SHOP
US$126.20
Shopify
7D
12.0%
1Y
9.2%

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.
OKTA
US$74.29
Okta
7D
-14.9%
1Y
-19.9%
CRWV
US$89.25
CoreWeave
7D
-7.1%
1Y
n/a