WeWork Inc. (WE)

Apr 20, 2022Trade Ideas

WeWork Inc. (WE) looks like an interesting opportunity.

For one, Piper Jaffray analysts say profitability is within reach for the company.

According to TheFly.com, “Piper Sandler analyst Alexander Goldfarb initiated coverage of WeWork with an Overweight rating and $10 price target. The analyst contends that the market underappreciates expectations for the company to achieve profitability by late 2023/early 2024, which ‘could accelerate’ given its flexible work station business model that fits in the post-COVID world.”

Two, the global flexible space provider recently reported fourth quarter 2021 revenue of $718 million, a 9% increase from $661 million in the third quarter and the second consecutive quarter of sequential revenue growth. It also posted a net loss of $803 million in the fourth quarter 2021, a 5% improvement year over year.

Three, we have to consider that demand for flexible work space is on the rise. In fact, according to Entrepreneur, “the flex workspace industry has seen about 1000% of growth over the last decade. It is anticipated to account for 30% of all office space by 2030.”

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