JPMorgan has released its December 2025 assessment identifying leading European internet stocks exhibiting robust growth prospects and operational advancement. The research highlights a strategic mix of established firms and agile newcomers capitalizing on acquisitions, artificial intelligence adoption, and favorable market developments. Investors are encouraged to monitor this sector given its innovation-driven value potential.

JPMorgan’s Top European Internet Stock Picks

Prosus emerges as a key beneficiary from strong momentum in its e-commerce portfolio and positive free cash flow. The company’s ongoing open-ended buybacks are projected to enhance NAV per share by over 7% annually. Noteworthy acquisitions include securing a 90% stake in Just Eat Takeaway and purchasing the French auto marketplace La Centrale for €1.1 billion through its OLX Group, reinforcing its expansion strategy. The solid performance of Tencent further supports JPMorgan’s bullish outlook on Prosus.

Scout24 has outperformed its Classifieds peers in the past year, driven by innovative product rollouts that elevated top-line growth and earnings forecasts. The firm is well positioned to realize margin enhancement by optimizing marketing spend, reducing headcount, and leveraging AI technologies, including a live AI chatbot. Its recent acquisitions of Spanish real estate platforms Fotocasa and Habitaclia for around €153 million highlight geographic expansion. Additionally, Bernstein SocGen Group initiated coverage with an Outperform rating, underscoring positive analyst sentiment.

CTS Eventim remains a favored pick due to resilient consumer demand and a strong pipeline of international events, including anticipated artist tours across Europe and major sporting occasions like the Olympics. These factors are expected to accelerate mobile ticketing adoption. The appointment of William Willms as CFO, effective January 1, 2026, signals management continuity. JPMorgan forecasts a double-digit EBITDA CAGR supported by low capital expenditure and a favorable working capital cycle, enabling strong cash generation and potential dividend increases.

Additional European Internet Stocks with Positive Outlooks

Stroer is valued with a €48 target price implying a €3.5 billion market capitalization. Despite a 2% organic sales decline in Q3 and lowered full-year guidance, its outdoor advertising segment trades at about 7x 2027E adjusted EBITDA of €554 million. JPMorgan expects an M&A premium to cap downside risk, while the valuation of non-Outdoor assets approximates €0.9 billion using conservative multiples.

Delivery Hero remains overweight in JPMorgan’s portfolio despite competitive pressures in Korea and Saudi Arabia. The sum-of-the-parts valuation reveals that outside its 80% ownership of Talabat and Korean operations, much of Delivery Hero’s value remains underappreciated. The company reported a 22% year-over-year revenue increase in Q3 2025, reflecting robust financial health and strengthening its appeal as a top acquisition target within the European internet space.

Informa is poised for improved earnings driven by a focus on live B2B events and operational simplification. The recent Capital Markets Day underscored strong growth prospects fueled by innovation, partnerships, and geographic expansion. Goldman Sachs reaffirmed a Conviction Buy rating, projecting 6%–7% annual growth.

ATG stands out for its attractive valuation and ongoing operational enhancements, including improved conversion rates and take rate progress. JPMorgan cites manageable leverage and solid cash flow generation, anticipating private equity interest due to existing strategic shareholders and a positive end-market recovery.

YouGov has been upgraded to overweight following early operational recovery signs. Growth in its Data Products and YouGov Shopper segments surpasses expectations, although strategic clarity awaits new CEO appointment. The management team plans to increase technology and data science investments through fiscal 2027, underpinning the turnaround strategy.

European Internet Stocks: Market Outlook

As of December 2025, JPMorgan’s comprehensive review highlights the diverse opportunities within the European internet sector. With strategic acquisitions, artificial intelligence integration, and evolving consumer behavior driving growth, companies like Prosus, Scout24, and Delivery Hero exemplify the region’s potential. Investors looking for exposure to innovative, operationally improving firms should consider this dynamic sector as a key growth avenue in the near term.