Lyft ($LYFT) shares have been pounded in the global shutdown, and the stock is off about 40% as the companies readies earnings for May 6 after the bell. Alternative data points reflect lingering hardship, especially when held against its bigger competitor.
App ($AAPL) Store Ratings, tracked above, show a near-total stall in growth. Because a review submission is a metric of user engagement, it's particularly bad news for Lyft that its digital storefront, like so many brick-and-mortar businesses, is effectively closed. The upside is that its rating hovers around 4.8-out-of-5 here.
Here, we can track Lyft's social media engagement, which is down substantially from typical levels. Facebook ($FB) Talking About Count measures how often a brand earns mentions on social media, and Lyft could use a lift, Worse still, it's at a particular disadvantage to competitor Uber, which, through its Uber Eats business (an ancillary property Lyft lacks) is earning beaucoup mentions online.
After laying off hundreds and furloughing additional staff, Lyft also dialed back job postings, cutting more than 50% of roles this year, roughly 200 openings from the peak. From e-commerce to social media to finance disruptors to smartphone makers, Silicon Valley and top tech companies all over the world are starting to see a slowdown in job postings, whether they're industry stalwarts or newly-minted unicorns. And until the global economy begins to regain its footing, it's unlikely this trend will reverse itself.
Analysts tracked by Zacks Investment Research are looking for EPS losses of -$1.06 when Lyft announces results.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales, and app ratings - and creates data sets that measure factors like hiring, revenue, and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.
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