Analysts at RBC have been tracking job postings for 88 of the largest public and private software vendors, and monitoring the impact of COVID-19 on those postings.
Total postings have declined -46% since Feb (-48% y/y), but declines have slowed to -2.6% w/w, the slowest decline since Mar 17th, with all sub-sectors ranging from -5% to +3%. NLOK, PING, MIME, RP and ALTR appear to have the biggest w/w gains while NTNX, CVLT, NET, ESTC and PD seem to have the largest w/w declines in postings.
Results in the sector have generally been better than expected and valuations for many sub-groups are now back above pre-COVID levels. However, with job postings still down -46% since Feb, the pipeline build and sales capacity does not appear to be very robust yet. Could we see a pullback as focus turns from COVID impact to the new business environment?
Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence.