After a successful bounce-back from a disappointing IPO, Snap's mojo was overturned by a global pandemic. But social media companies could perform well in the immediate future, since everyone is sheltering in place.
Snap's ($SNAP) heady 2019 was interrupted by the Coronvirus crisis, and the impacts are showing up throughout the California social messaging app's data. Shares are down more than 21% in a turbulent year for markets - and some data signals Snap may face challenges after its Tuesday, April 21 earnings report is announced.
At Snap, job posting data isn't terribly uplifting to look at - but then again, that's the case with nearly every Silicon Valley growth tale that now, unexpectedly, has ground to a halt. Overall, job postings have seen more than 100 roles reduced in just over 40 days, making for a decline of more than 28% (not shown).
Job postings in sales are down nearly 60% from 2020 highs - just like other categories, like design, partnerships and strategy. Engineering is the only department where Snap is looking for more staff than it was at the beginning of the year.
Now, the fact that so many job postings are down could be partially attributed to Snap's hiring spree. Judging by our LinkedIn ($MSFT) Headcount, Snap has added 7% to its staff so far this year - we'll be able to gauge that more specifically in its quarterly report.
What Snap does have going in its favor is staying power, particularly with younger users - although, TikTok remains a lingering threat. Its total rating count in the Google ($GOOG) Play Store recently eclipsed the 20 million mark, and, by our final chart, you can see users' rating in the Play store for Snap's app continues to rise as well.
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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