NEW YORK ( TheStreet) -- Since the stock market hit a bottom in March 2009, numerous Internet-related companies have had initial public offerings, including nine detailed in this article that entered the public market between May 2009 and May 2012.Based upon ValuEngine models and my proprietary analytics, it takes a certain period of time to provide enough data to give accurate analysis and profiles. In my judgment, it takes nine years of data to assume that all possible bullish or bearish events have been factored into the price movement of a stock. Obviously that is not possible in the IPO market since May 2009. The nine Internet IPOs I am evaluating today have enough price and earnings history to at least make a prudent evaluation and prepare an IPO report card. Let's start with the macro and then drill down to the micro:
The computer and technology sector is 20.8% overvalued with the Internet software industry 3.1% overvalued, the Internet content industry 20.9% overvalued, and the Internet services industry 21.6%. Stocks remain under a ValuEngine valuation warning with 69.2% of all stocks overvalued.