Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries 3 Internet Stocks Ready to Soar in November By: StockNews.com November 07, 2023 at 08:10 AM EST With the adoption of new cutting-edge technology in the corporate world, the internet industry is booming with possibilities. Thus, it could be wise to buy stocks like LY Corp. (YAHOY), Travelzoo (TZOO), and Yelp Inc. (YELP) this November. Read on…The internet sector is positioned for long-term growth driven by the rising demand for digital services by businesses. So, investors could add quality Internet stocks LY Corporation (YAHOY), Travelzoo (TZOO), and Yelp Inc. (YELP) to their portfolios.The increasing demand for affordable smart wireless devices is likely to drive the growth of the wireless internet 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.The United States serves as a major epicenter for internet engagement, boasting a population of over 307 million internet users. With internet accessibility reaching more than 90% of Americans, its influence has left an indelible mark on numerous facets of daily existence.Furthermore, the emergence of 5G technology represents a major milestone in the internet industry. The global 5G technology market is projected to reach $797.80 billion by 2030, growing at a CAGR of 65.8%. With these favorable trends in mind, let’s delve into the fundamentals of the three Internet stocks worth adding to your portfolios, beginning with the third stock.Stock #3: LY Corporation (YAHOY)Headquartered in Tokyo, Japan, YAHOY is an internet company that engages in diverse businesses, including search, portal website, e-commerce, communications, and advertising. Additionally, the company provides membership and payment-related services.On October 13, YAHOY began implementing GitHub Copilot for Business, which enables engineers to work more efficiently through the integration of AI. This is expected to improve productivity.YAHOY’s revenue increased 11.1% year-over-year to ¥871.80 billion ($5.82 billion) for the six-month period that ended September 30, 2023. Its operating income grew 16.7% from the year-ago value to ¥116.13 billion ($775.58 million).Also, the company’s adjusted EPS was ¥12.44, up 158.6% from the prior year's value. In addition, net income rose 107% from the previous year’s period to ¥101.31 billion ($676.60 million).Street expects YAHOY’s revenues for the current fiscal year (ending March 2024) to increase significantly year-over-year to $12.23 billion. For the fiscal year 2024, the consensus revenue estimate of $13.31 billion indicates an 8.8% rise year-over-year.YAHOY’s stock has gained 9.5% year-to-date and 16.6% over the past year to close the last trading session at $5.40.YAHOY’s strong fundamentals are reflected in its POWR Ratings. The stock has an overall rating of B, equating 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 an A grade for Stability and a B for Momentum. It is ranked #19 in the 58-stock Internet industry.Click here for YAHOY’s additional POWR Ratings (Growth, Value, Sentiment, and Quality).Stock #2: Travelzoo (TZOO)TZOO is an internet media company operator that provides travel, entertainment, and local deals from travel and entertainment companies, and local businesses globally.On September 13, TZOO unveiled Travelzoo META, offering members groundbreaking Metaverse travel experiences. It could expand TZOO's business by attracting users interested in Metaverse travel experiences, potentially driving membership growth and engagement.During the third quarter ended September 30, 2023, TZOO reported a revenue of $20.60 million, up 30% year-over-year. Its gross profit rose 32.6% from the prior year’s quarter to $17.93 million.Also, the company’s net income and net income per share grew 201.1% and 166.7% year-over-year to $2.40 million and $0.16, respectively.The consensus EPS estimate of $0.23 for the fiscal fourth quarter ending December 2023 represents a marginal improvement year-over-year. The consensus revenue estimate of $21.49 million for the same quarter represents a 15.5% increase from the same quarter last year. The company topped the analysts’ revenue and EPS estimates in three of the trailing four quarters.The stock gained 79.3% year-to-date and 57.1% over the past year, closing the last trading session at $7.98.TZOO’s solid prospects are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to Buy in our proprietary rating system.TZOO has an A grade for Quality and Sentiment and a B for Value. It is ranked #4 in the same industry.Click here to see TZOO’s additional POWR Ratings for Growth, Momentum, and Stability.Stock #1: Yelp Inc. (YELP)YELP connects consumers with local businesses through its platform. The platform spans various local business categories, such as restaurants, shopping, beauty, and health, as well as home, local, auto, professional, pets, events, real estate, and financial services.On October 24, YELP announced an expansion in its use of neural networks to enhance ad matching, search results, photo classification, and YELP Waitlist, delivering more relevant ads to consumers and improving accuracy in wait time estimates.This advancement in AI technology is expected to significantly improve user experience, increase advertising effectiveness for businesses, and drive growth for YELP by offering more relevant content and better services to its users.YELP’s net revenue increased 11.7% year-over-year to $345.12 million in the third quarter that ended September 30, 2023. Net income attributable to common stockholders came in at $58.22 million, up 539.2% year-over-year.The company’s adjusted EBITDA rose 30.5% from the same period last year to $96.47 million. Moreover, the company’s net income per share attributable to common stockholders grew 507.7% year-over-year to $0.79.YELP’s EPS is expected to grow 18.1% year-over-year to $0.81 for the fiscal fourth quarter ending December 2023. Its revenue is anticipated to increase 10.4% year-over-year to $341.39 million in the same quarter. Also, the company surpassed the consensus EPS and revenue estimates in each of the four trailing quarters, which is impressive.The stock gained 64.9% year-to-date and 48.8% over the past year to close the last trading session at $45.09.YELP’s robust outlook is reflected in its POWR Ratings. The stock has an overall rating of A, which equates to a Strong Buy in our proprietary rating system.The stock has an A grade for Quality and a B for Value. It ranks first in the same industry.In addition to the POWR Ratings stated, one can access YELP’s Growth, Momentum, Stability, and Sentiment ratings here.What To Do Next?43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.2024 Stock Market Outlook >YAHOY shares were trading at $5.75 per share on Tuesday afternoon, up $0.35 (+6.48%). Year-to-date, YAHOY has gained 17.76%, versus a 15.34% rise in the benchmark S&P 500 index during the same period.About the Author: Anushka DuttaAnushka is an analyst whose interest in understanding the impact of broader economic changes on financial markets motivated her to pursue a career in investment research.More...The post 3 Internet Stocks Ready to Soar in November appeared first on StockNews.com Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. 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3 Internet Stocks Ready to Soar in November By: StockNews.com November 07, 2023 at 08:10 AM EST With the adoption of new cutting-edge technology in the corporate world, the internet industry is booming with possibilities. Thus, it could be wise to buy stocks like LY Corp. (YAHOY), Travelzoo (TZOO), and Yelp Inc. (YELP) this November. Read on…The internet sector is positioned for long-term growth driven by the rising demand for digital services by businesses. So, investors could add quality Internet stocks LY Corporation (YAHOY), Travelzoo (TZOO), and Yelp Inc. (YELP) to their portfolios.The increasing demand for affordable smart wireless devices is likely to drive the growth of the wireless internet 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.The United States serves as a major epicenter for internet engagement, boasting a population of over 307 million internet users. With internet accessibility reaching more than 90% of Americans, its influence has left an indelible mark on numerous facets of daily existence.Furthermore, the emergence of 5G technology represents a major milestone in the internet industry. The global 5G technology market is projected to reach $797.80 billion by 2030, growing at a CAGR of 65.8%. With these favorable trends in mind, let’s delve into the fundamentals of the three Internet stocks worth adding to your portfolios, beginning with the third stock.Stock #3: LY Corporation (YAHOY)Headquartered in Tokyo, Japan, YAHOY is an internet company that engages in diverse businesses, including search, portal website, e-commerce, communications, and advertising. Additionally, the company provides membership and payment-related services.On October 13, YAHOY began implementing GitHub Copilot for Business, which enables engineers to work more efficiently through the integration of AI. This is expected to improve productivity.YAHOY’s revenue increased 11.1% year-over-year to ¥871.80 billion ($5.82 billion) for the six-month period that ended September 30, 2023. Its operating income grew 16.7% from the year-ago value to ¥116.13 billion ($775.58 million).Also, the company’s adjusted EPS was ¥12.44, up 158.6% from the prior year's value. In addition, net income rose 107% from the previous year’s period to ¥101.31 billion ($676.60 million).Street expects YAHOY’s revenues for the current fiscal year (ending March 2024) to increase significantly year-over-year to $12.23 billion. For the fiscal year 2024, the consensus revenue estimate of $13.31 billion indicates an 8.8% rise year-over-year.YAHOY’s stock has gained 9.5% year-to-date and 16.6% over the past year to close the last trading session at $5.40.YAHOY’s strong fundamentals are reflected in its POWR Ratings. The stock has an overall rating of B, equating 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 an A grade for Stability and a B for Momentum. It is ranked #19 in the 58-stock Internet industry.Click here for YAHOY’s additional POWR Ratings (Growth, Value, Sentiment, and Quality).Stock #2: Travelzoo (TZOO)TZOO is an internet media company operator that provides travel, entertainment, and local deals from travel and entertainment companies, and local businesses globally.On September 13, TZOO unveiled Travelzoo META, offering members groundbreaking Metaverse travel experiences. It could expand TZOO's business by attracting users interested in Metaverse travel experiences, potentially driving membership growth and engagement.During the third quarter ended September 30, 2023, TZOO reported a revenue of $20.60 million, up 30% year-over-year. Its gross profit rose 32.6% from the prior year’s quarter to $17.93 million.Also, the company’s net income and net income per share grew 201.1% and 166.7% year-over-year to $2.40 million and $0.16, respectively.The consensus EPS estimate of $0.23 for the fiscal fourth quarter ending December 2023 represents a marginal improvement year-over-year. The consensus revenue estimate of $21.49 million for the same quarter represents a 15.5% increase from the same quarter last year. The company topped the analysts’ revenue and EPS estimates in three of the trailing four quarters.The stock gained 79.3% year-to-date and 57.1% over the past year, closing the last trading session at $7.98.TZOO’s solid prospects are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to Buy in our proprietary rating system.TZOO has an A grade for Quality and Sentiment and a B for Value. It is ranked #4 in the same industry.Click here to see TZOO’s additional POWR Ratings for Growth, Momentum, and Stability.Stock #1: Yelp Inc. (YELP)YELP connects consumers with local businesses through its platform. The platform spans various local business categories, such as restaurants, shopping, beauty, and health, as well as home, local, auto, professional, pets, events, real estate, and financial services.On October 24, YELP announced an expansion in its use of neural networks to enhance ad matching, search results, photo classification, and YELP Waitlist, delivering more relevant ads to consumers and improving accuracy in wait time estimates.This advancement in AI technology is expected to significantly improve user experience, increase advertising effectiveness for businesses, and drive growth for YELP by offering more relevant content and better services to its users.YELP’s net revenue increased 11.7% year-over-year to $345.12 million in the third quarter that ended September 30, 2023. Net income attributable to common stockholders came in at $58.22 million, up 539.2% year-over-year.The company’s adjusted EBITDA rose 30.5% from the same period last year to $96.47 million. Moreover, the company’s net income per share attributable to common stockholders grew 507.7% year-over-year to $0.79.YELP’s EPS is expected to grow 18.1% year-over-year to $0.81 for the fiscal fourth quarter ending December 2023. Its revenue is anticipated to increase 10.4% year-over-year to $341.39 million in the same quarter. Also, the company surpassed the consensus EPS and revenue estimates in each of the four trailing quarters, which is impressive.The stock gained 64.9% year-to-date and 48.8% over the past year to close the last trading session at $45.09.YELP’s robust outlook is reflected in its POWR Ratings. The stock has an overall rating of A, which equates to a Strong Buy in our proprietary rating system.The stock has an A grade for Quality and a B for Value. It ranks first in the same industry.In addition to the POWR Ratings stated, one can access YELP’s Growth, Momentum, Stability, and Sentiment ratings here.What To Do Next?43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.2024 Stock Market Outlook >YAHOY shares were trading at $5.75 per share on Tuesday afternoon, up $0.35 (+6.48%). Year-to-date, YAHOY has gained 17.76%, versus a 15.34% rise in the benchmark S&P 500 index during the same period.About the Author: Anushka DuttaAnushka is an analyst whose interest in understanding the impact of broader economic changes on financial markets motivated her to pursue a career in investment research.More...The post 3 Internet Stocks Ready to Soar in November appeared first on StockNews.com