Beyond Meat ($BYND) is faring better than most stocks, up 21% since 2020 began. But, a look at its alternative data suggests that the IPO darling that outperformed all those flashy apps, with its pea-protein burgers, could be running out of room to grow.
Beyond Meat announces earnings Tuesday, May 5, and analysts tracked by Zacks Investment Research are looking for EPS losses of -$0.06.
Part of what charged Beyond Meat's post IPO run was the fact that it quickly established partnerships with key grocers that allowed it to rapidly accelerate its footprint. However, based on a look at its Facebook Talking About Count, above, Beyond Meat is getting a lot less chatter on the social network these days.
Job listings at Beyond Meat are beginning to lose their sizzle, as well. They've declined more than 50% from 2020 highs, according to our data.
However, the decline in job postings could simply be a signal that Beyond Meat is successfully staffing up - our final chart, which tracks LinkedIn employee headcount, reflects a 25% increase in workers so far this year.
It remains to be seen whether or not Beyond Meat saw an uptick in sales thanks to the pandemic shutdown and the world's increased emphasis on cooking at home. Whether or not it has guidance for the market, could be helpful for investors at a critical time in its existence as a public market company.
What could boost a turnaround? How about skyrocketing beef prices and a meat shortage tethered to a recession that's caused a double-digit percentage of Americans, yet fully unrealized, to need to get creative almost overnight with every aspect of their budget. That could sure drive a lot more people to pea-protein burgers. Whether or not it makes them taste good, that's another story.
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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