3 Internet Stocks to Watch for 2024 Investments

NASDAQ: CMCSA | Comcast Corporation CI A News, Ratings, and Charts

CMCSA – The internet industry is expected to grow steadily due to burgeoning demand and increasing digitization. Against this backdrop, it could be wise to watch fundamentally strong internet stocks Comcast (CMCSA), Wix.com (WIX), and Angi (ANGI) for 2024 investments. Read more…

The internet has become one of the most vital tools for communication, information, and entertainment in today’s globalized world. More than half of the global population is connected to the internet for daily activities. Given the favorable industry trends, quality internet stocks Comcast Corporation (CMCSA), Wix.com Ltd. (WIX), and Angi Inc. (ANGI) could be wise additions to your portfolio for 2024 investments.

The digital revolution of enterprises across almost all global industries is driving huge growth in the market for internet services market. The e-commerce sector’s explosive growth, the healthcare sector’s digitization, rising online entertainment consumption, and governmental e-governance activities are a few of the key drivers of the worldwide broadband services market.

The digital revolution is being transformed by the rising use of wireless technologies, which have the potential to boost productivity and reduce costs. The global internet services market is expected to grow at a CAGR of 4.4% until 2031.

The United States boasts over 307 million internet users nationwide. As a global hub of technological innovation and home to some of the world’s leading internet companies, the United States has increased its digital population for over two decades. Today, over 90 percent of Americans have access to the internet, many of whom could no longer imagine a life without it.

Further, the increasing demand for affordable smart wireless devices is likely to drive the growth of the wireless internet services industry. According to a report by ReportLinker, the global wireless internet services market is estimated to reach $921.97 billion by 2027, growing at a 7% CAGR.

With these favorable trends in mind, let’s delve into the fundamentals of the three best internet stocks worth adding to your watchlist.

Comcast Corporation (CMCSA)

CMCSA operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments.

CMCSA’s trailing-12-month ROCE of 18.60% is 446% higher than the industry average of 3.41%. Its trailing-12-month net income margin of 12.53% is 290.1% higher than the industry of 3.21%.

For the third quarter that ended September 30, 2023, CMCSA’s revenue increased marginally year-over-year to $30.12 billion. Its adjusted EBITDA grew 5.1% from the year-ago value to $9.96 billion.  Also, its adjusted net income and non-GAAP EPS increased 6.2% and 12.5% year-over-year to $4.48 billion and $1.08, respectively.

Analysts expect CMCSA’s revenue to increase 2.3% year-over-year to $123.48 billion for the year ending December 2024. Its EPS is expected to grow 7.1% year-over-year to $3.90 for the same year. It surpassed EPS and revenue estimates in all four trailing quarters.

The stock has gained 12.2% over the past nine months to close the last trading session at $42.63.

CMCSA’s POWR Ratings reflect its promising outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.

The stock has a B grade in Value, Quality, and Stability. It is ranked first out of 8 stocks in the Entertainment – TV & Internet Providers industry.

Click here to see the other ratings of CMCSA (Growth, Momentum, and Sentiment).

Wix.com Ltd. (WIX)

Headquartered in Tel Aviv, Israel, WIX develops and markets a cloud-based platform that enables to create a website or web application in North America, Europe, Latin America, Asia, and internationally.

WIX’s trailing-12-month gross profit margin of 65.95% is 34.2% higher than the industry average of 49.14%, while its trailing-12-month levered FCF margin of 8.77% is 1.4% higher than the industry average of 8.65%.

WIX’s revenues for the fiscal third quarter that ended September 30, 2023, increased 13.9% year-over-year to $393.84 billion. Its non-GAAP gross profit increased 20.6% year-over-year to $269.104 million and non-GAAP net income per share increased significantly year-over-year to $1.10.

The consensus revenue estimate of 402.79 million for the fiscal fourth quarter ended December 2023 represents a 13.5% increase year-over-year. Its EPS is expected to grow 57% year-over-year to $0.96 for the same quarter. Also, the company topped the consensus EPS and revenue estimates in each of the four trailing quarters, which is impressive.

The stock has gained 49.4% over the past six months to close the last trading session at $116.90.

WIX’s strong fundamentals are reflected in its POWR Ratings. It has an overall rating of B, which equates to Buy in our proprietary rating system.

It has an A grade for Growth and Sentiment and a B in Quality. Within the Internet – Services industry, it is ranked #4 out of 28 stocks.

Beyond what is stated above, we’ve also rated WIX for Momentum, Value, and Stability. Get all WIX ratings here.

Angi Inc. (ANGI)

Angi Inc. connects home service professionals with consumers in the United States and internationally. The company’s Ads and Leads, connects consumers with service professionals for local services through nationwide online directory of service professionals in various service categories; provides consumers with valuable tools, services, and content, including verified reviews, to help them research, shop, and hire for local services; and sells term-based website.

ANGI’s trailing-12-month gross profit of 87.08% is 78.1% higher than the industry average of 48.90%. Its trailing-12-month asset turnover ratio of 0.82x is 58.4% higher than the industry average of 0.52x.

For the fiscal third quarter that ended September 30, 2023, ANGI’s revenue came in at $371.80 million. Net loss and net loss per share declined 69.1% and 66.7% from the prior year’s quarter to $5.40 million and $0.01, respectively. Its adjusted EBITDA increased 13% year-over-year to $25.90 million.

Street expects ANGI’s revenue to be $1.42 billion for the fiscal year ended December 2023. Its EPS is expected to increase 66.1% year-over-year for the same year.

Over the past three months, the stock has surged 22.2% to close the last trading session at $2.31.

It’s no surprise that ANGI has an overall rating of B, which equates to Buy in our proprietary rating system.

It has a B grade for Sentiment and Value. Within the Internet industry, it is ranked #17 out of 55 stocks.

In addition to the POWR Ratings stated above, one can access ANGI’s ratings for Momentum, Growth, Quality, and Stability here.

What To Do Next?

Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today’s volatile markets:

3 Stocks to DOUBLE This Year >


CMCSA shares were trading at $43.01 per share on Friday morning, up $0.38 (+0.89%). Year-to-date, CMCSA has declined -1.26%, versus a -1.37% rise in the benchmark S&P 500 index during the same period.


About the Author: Nidhi Agarwal


Nidhi is passionate about the capital market and wealth management, which led her to pursue a career as an investment analyst. She holds a bachelor's degree in finance and marketing and is pursuing the CFA program. Her fundamental approach to analyzing stocks helps investors identify the best investment opportunities. More...


More Resources for the Stocks in this Article

TickerPOWR RatingIndustry RankRank in Industry
CMCSAGet RatingGet RatingGet Rating
WIXGet RatingGet RatingGet Rating
ANGIGet RatingGet RatingGet Rating

Most Popular Stories on StockNews.com


Will Stocks Continue to Rise...Or Time for Rug Pull?

It’s hard not to celebrate each new high for the S&P 500 (SPY). Yet with high inflation not dead and buried then perhaps this stock market celebration is a tad early. That is why you need to hear what 44 year investment veteran Steve Reitmeister is saying about what comes next for the stock market and how to stay on the right side of the action. Read on below for more...

4 Software Stocks Primed for Major Upside in 2024

The software industry is thriving, buoyed by digital transformation, soaring demand for cloud solutions, and the integration of advanced technologies like AI and ML, presenting lucrative opportunities for savvy investors. So, let’s look at tech stocks SS&C Technologies (SSNC), Informatica (INFA), Verint Systems (VRNT), and Yext (YEXT) poised for significant upside in 2024. Read on…

3 Pharma Stocks Primed for May Investment Opportunities

The pharma industry is poised for tremendous growth driven by surging healthcare needs, the introduction of groundbreaking medications, and relentless technological innovation. Hence, quality pharma stocks Collegium Pharmaceutical (COLL), Green Thumb Industries (GTBIF), and Bristol-Myers Squibb (BMY) emerge as prime investment options this month. Read more…

3 Bargain Internet Stock Buys for Savvy Investors

The increased internet penetration is reshaping various industries, driving digital transformation, connectivity, and access to services like e-commerce, remote work, and online entertainment. Thus, robust internet stocks Jamf Holding (JAMF), Upwork (UPWK), and TrueCar (TRUE), which are trading at discounts to their peers, could be ideal buys. Keep reading…

2 Paths for Stocks from Here

The recent rally for the S&P 500 (SPY) is nice to see. However, it is quite possible this is the end of the line for recent stock gains with more downside ahead. To explain the 2 distinct possibilities for stocks at this time is 44 year investment veteran Steve Reitmeister who shares this updated marketing outlook with trading plan and top picks in the article below...

Read More Stories

More Comcast Corporation CI A (CMCSA) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All CMCSA News