WeWork (WE) Stock: Why The Price Increased Over 8.5% Today

By Amit Chowdhry ● Apr 19, 2022
  • The stock price of WeWork Inc (NYSE: WE) increased by over 8.5% during intraday trading today. This is why.

The stock price of WeWork Inc (NYSE: WE) increased by over 8.5% during intraday trading today. Investors are responding positively to a bullish research report.

Piper Sandler analyst Alexander Goldfarb initiated coverage of WeWork with an “Overweight” rating and a $10 price target. And Goldfarb believes that the market underappreciates expectations for the company to achieve profitability by late 2023/early 2024.

This could accelerate given its flexible workstation business model that fits in the post-COVID world. And Goldfarb added that he is comfortable with that profitability expectation as desk utilization rates are now 63%, compared to 45% at the COVID lows while the office overall is stuck at 35%, demonstrating the appeal of the WeWork flex work model.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.