WeWork (WE) Set to Announce Quarterly Earnings on Thursday

WeWork (NYSE:WEGet Rating) is scheduled to be releasing its earnings data before the market opens on Thursday, May 12th. Analysts expect WeWork to post earnings of ($0.88) per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Shares of WE stock opened at $7.05 on Thursday. WeWork has a 1 year low of $4.50 and a 1 year high of $14.97. The company’s 50 day moving average is $6.33.

A number of brokerages have issued reports on WE. Piper Sandler initiated coverage on WeWork in a report on Monday, April 18th. They issued an “overweight” rating and a $10.00 price target on the stock. Mizuho initiated coverage on WeWork in a report on Friday, April 22nd. They issued a “buy” rating and a $9.00 price target on the stock.

In other WeWork news, CEO Sandeep Mathrani purchased 30,000 shares of WeWork stock in a transaction dated Tuesday, March 22nd. The shares were purchased at an average cost of $6.55 per share, for a total transaction of $196,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.80% of the company’s stock.

A number of large investors have recently made changes to their positions in WE. JPMorgan Chase & Co. bought a new position in WeWork in the fourth quarter worth approximately $833,000. Charles Schwab Investment Management Inc. bought a new position in WeWork in the fourth quarter worth approximately $12,943,000. Geode Capital Management LLC bought a new position in WeWork in the fourth quarter worth approximately $15,116,000. Goldman Sachs Group Inc. bought a new position in WeWork in the fourth quarter worth approximately $19,219,000. Finally, State Street Corp bought a new position in WeWork in the fourth quarter worth approximately $5,625,000. 81.48% of the stock is currently owned by institutional investors.

WeWork Company Profile (Get Rating)

WeWork Inc provides flexible workspace solutions to individuals and organizations worldwide. The company offers workstation, private office, and customized floor solutions; and various amenities and services, such as private phone booths, internet, high-speed business printers and copiers, mail and package handling, front desk services, off-peak building access, common areas, and daily enhanced cleaning solutions.

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