WeWork (NYSE:WE) Posts Earnings Results, Beats Estimates By $0.15 EPS

WeWork (NYSE:WEGet Rating) announced its quarterly earnings data on Thursday. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.15, Briefing.com reports. The business had revenue of $765.00 million during the quarter, compared to analyst estimates of $768.11 million. WeWork’s revenue for the quarter was up 27.9% on a year-over-year basis. WeWork updated its FY 2022 guidance to EPS and its Q2 2022 guidance to EPS.

NYSE WE opened at $5.63 on Friday. The stock’s 50-day simple moving average is $6.33 and its two-hundred day simple moving average is $7.57. WeWork has a twelve month low of $4.50 and a twelve month high of $14.97.

In other news, CEO Sandeep Mathrani purchased 30,000 shares of the stock in a transaction on Tuesday, March 22nd. The shares were acquired at an average price of $6.55 per share, for a total transaction of $196,500.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.80% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Toroso Investments LLC bought a new stake in WeWork during the 4th quarter valued at approximately $91,000. Wells Fargo & Company MN bought a new stake in WeWork during the 4th quarter valued at approximately $172,000. Schonfeld Strategic Advisors LLC bought a new stake in WeWork during the 4th quarter valued at approximately $206,000. Raymond James & Associates boosted its position in WeWork by 49.5% during the 1st quarter. Raymond James & Associates now owns 30,200 shares of the company’s stock valued at $206,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Penserra Capital Management LLC bought a new stake in WeWork during the 4th quarter valued at approximately $244,000. Institutional investors own 81.48% of the company’s stock.

WE has been the subject of a number of research analyst reports. Mizuho initiated coverage on WeWork in a research report on Friday, April 22nd. They issued a “buy” rating and a $9.00 target price for the company. Piper Sandler initiated coverage on WeWork in a research report on Monday, April 18th. They issued an “overweight” rating and a $10.00 target price for the company.

About WeWork (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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