WeWork’s (WE) CEO and CFO have been buying stock.
CEO Sandeep Mathrani, for example, bought 50,000 shares of WE at $4.9799 a share. He now holds 2.33 million shares. CFO Andre Fernandez just bought 40,000 shares at $5 and $5.025. He now holds 434,938 shares of the WE stock.
Two, “WeWork is an undervalued play on changing work preferences of both employees and employers. The analyst says the company is well positioned to take share of the flex office market, which is poised to grow 50% in the next three years, as office tenants rethink footprints and lease formats,” noted Mizuho analyst Vikram Malhotra, as quoted by TheFly.com.
Three, the company is producing solid earnings. In May, the company posted a loss of 57 cents, which was narrower than a loss of $14.34 a share year over year. Revenue came in at $765 million, which was above the company’s own guidance range of $740 million to $760 million.
Also, according to Barron’s, “The company also said it expects second-quarter revenue of between $800 million to $825 million vs. its previous guidance of $775 million to $825 million. For 2022, the company expects revenue of $3.4 billion to $3.5 billion; its prior forecast was for full-year revenue of $3.35 billion to $3.5 billion.Adjusted EBITDA guidance for 2022 was also updated to between negative $400 million to negative $475 million from the previously guided negative $400 million to negative $500 million.”