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.
The IPO for LinkedIn ( LNKD) ($162.46) was in May 2011. The company provides an online network for professionals to share knowledge and potential business opportunities. LinkedIn opened at $83 as an IPO, but by June 20, 2011, could be bought in the low $60s. That was a buying opportunity to $115 by the end of July. The all-time low was $55.98 in November 2011. Since then, LinkedIn has been on a roll to a high of $202.91 on May 2. It seems like the bias today is additional downside with my monthly risky level at $174.06.
The IPO for Zillow ( Z) ($52) was in July 2011. The company provides real estate information for all who participate in the housing market including buyers and sellers. Zillow was a failed IPO as shares plunged from an IPO open at $57 to $21.23 into December 2011. Since then, the stock performance has improved. The roller-coaster ride in 2012 was to a high at $46.86 in September, and then to a low of $23 in November 2012. The performance in 2013 tracked the home builders higher to an all-time high at $63.76 on May 7, and the stock is down 18% since then. My monthly value level is $46.53 with a weekly risky level at $60.31. The IPO for Yelp ( YELP) ($27.46) was in March 2012. The company provides an online community covering restaurants, shopping, nightlife, financial services and health care. Yelp opened at $22.01 as an IPO then had its ups and downs, up to $31.96 on March 28, 2012, and then down to $14.10 on June 4, 2012. The stock had a strong run in 2013, setting an all-time high at $32.88 on May 20, and is down 16% since then. My monthly value level is $20.65 with a weekly risky level at $32.01. The controversial IPO for Facebook ( FB) ($23.52) was on May 18, 2012. The company is arguably the poster child for what a social-networking company should be. Facebook traded as high as $45 on its IPO debut and quickly tumbled from there. The low was $17.55 on Sept. 4, 2012. The 2013 high was $32.50 on Jan. 28 and has moved sideways to down since then. From the 2013 high, the stock is down 27%. My weekly pivot is $24.66 with a monthly risky level at $30.79. At the time of publication the author held no positions in any of the stocks mentioned. Follow @Suttmeier This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.