If there is one group of stocks that typically responds with volatility to first-quarter earnings reports, it is the Internet stocks. History held true during this past reporting season. Almost uniformly, reactions to earnings demonstrated increased volatility based on even the slightest positive or negative result. The advantage for investors looking to add these stocks to their portfolio is that often a quick downdraft can give a buyer just the opportunity they seek to pounce on the top names.

In a report out today, the analysts at UBS A.G. (NYSE: UBS) point out that the biggest positive takeaways from first-quarter earnings were that end demand, in terms of revenue, remains universally strong across their coverage universe, as top-line results were mostly in line, with a few exceptions. In particular, demand in both advertising and online ravel was notably strong. From mega-cap to small-cap, here are the stocks to buy from UBS.

Google Inc. (NASDAQ: GOOG) is absolutely dominating everything Internet. The new Google glasses, which may revolutionize Internet use and computer interaction, got lots of media play last week. The UBS price target for the industry behemoth is $945. The Thomson/First Call estimate is $920.

eBay Inc. (NASDAQ: EBAY) continues to dominate online auctions as earnings skyrocket. PayPal’s role in eBay’s future growth cannot be overlooked. In the past quarter, sales from the PayPal unit grew 18% to $1.5 billion. The UBS price target is $64 and the consensus target is $64 as well.

Priceline.com Inc. (NASDAQ: PCLN) delivered a profit, beat Wall Street’s expectations and beat the consensus revenue estimate. The travel giant has benefitted from the rebound in the economy. The UBS price target is $860 and the consensus estimate is $827.50.

Expedia Inc. (NASDAQ: EXPE) also has seen its travel business thrive with the improved economy. Expedia traded an unusually high volume Friday, with 4.8 million shares changing hands. The UBS target for the stock is $77. The consensus is lower at $71.

AOL Inc. (NYSE: AOL) offers a suite of online content, products and services to consumers, advertisers, publishers and subscribers worldwide. The UBS target for the old dial-up leader turned content provider is $44, versus a consensus target of $42.

Yelp Inc. (NYSE: YELP) rounds out the UBS list of Internet stocks to buy. Yelp operates Yelp.com, an online urban city guide that helps people find places to eat, shop, drink, relax and play based on the informed opinions of a community of locals in the know. UBS has a $32 price objective for the stock and the consensus target is at $30.

While UBS points out that the risks in online advertising and e-commerce include a potential inability for the industry to grow due to weakness in consumer discretionary spending, as well as a lack of execution. The overall state of the Internet industry and related areas remains extremely strong. As most of us would agree, it seems our personal time on the Internet just seems to grow each year.

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