Bowx Acquisition Corp. intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses.
Wework stock last closed at $2.95, down 1.99% from the previous day, and has decreased 97.21% in one year. It has underperformed other stocks in the Real Estate Services industry by 0.8 percentage points. Wework stock is currently +13.03% from its 52-week low of $2.61, and -97.74% from its 52-week high of $130.80.
As of Oct 2, 2023, there are 53.26M WE shares outstanding. The market value of WE is $157.10M. In the last 24 hours, 804,270 WE shares were traded.
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Once you have figured out the best place to buy Wework stock, it's important to analyze their stock before you buy, so you actually understand the risk as well as the opportunity.
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You can see all of the due diligence checks on WE's stock page.
You can use a variety of different financial metrics, analyses, models, and charts to gauge WE's fair value.
You can do additional valuation analysis on WE's stock here.
Out of 2 Equities analysts who give ratings on WE, the consensus analyst rating on Wework is a Buy
It's important to note that analyst ratings are not stock recommendations, nor are they investment advice.
Brett Knoblauch, a bottom 3% analyst from Cantor Fitzgerald reiterates WE with a strong buy rating and maintains their WE price target from $40.00 to $40.00, on May 17, 2023.
Vikram Malhorta, a bottom 7% analyst from Mizuho downgrades WE to a hold rating and lowers their WE price target from $70.00 to $12.00, on May 17, 2023.
Downgrading the stock from Strong Buy to Hold, Malhorta lowered his price target on WeWork Inc. by 82.9%.
He views the new CEO's appointment* as disruptive, "especially given current macro headwinds," the analyst told investors.
With ramping corporate layoffs and bankruptcies over the past two months, those macro headwinds have only gotten worse for WeWork, Malhorta added.
The analyst now believes that his "base case business assumptions," particularly his occupancy expectations, are unrealistic.
Declining occupancy will mean a bigger cash burn by WeWork and ultimately necessitate outside funding, Malhorta predicted.
Referencing the magnitude of his price target reduction, Malhorta colorfully acknowledged, with the title of his note, "WE...Got It Wrong."
* From here: On 2023/05/16, WeWork announced that Sandeep Mathrani would step down as CEO effective 2023/05/26. "Tasked with leading the company's turnaround following a botched IPO attempt and amid rising investor concerns over corporate governance standards," Mathrani did just that as "WeWork went public in 2021 under his leadership, navigated the COVID-19 pandemic, cut costs, boosted revenue across business segments, and restructured and strengthened the balance sheet."
You can dive deeper into what analysts are forecasting on the Wework stock forecast page.
Last year, WE revenue was $3.36B. In the past 2 year, WE's revenue has increased by 12.18% per year. This was slower than the Real Estate Services industry average of 25.47%.
Find out more about WE's earnings and revenue performance here.
In the last 12 months, insiders at WE have sold more shares than they have bought.
Kurt Wehner, Chief Financial Officer of WE, was the latest WE insider to sell. They sold $5,911.75 worth of WE shares on Sep 15, 2023.
Learn more about who owns WE stock here.
No, Wework doesn't provide an income stream by paying out dividends.
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