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WeWork Inc. (WE) Looks Set To Grow At A Great Clip In 2023

WeWork Inc. (NYSE:WE) has seen 5.72 million shares traded in the last trading session. The company, currently valued at $1.11B, closed the last trade at $1.68 per share which meant it lost -$0.02 on the day or -1.18% during that session. The WE stock price is -445.83% off its 52-week high price of $9.17 and 39.29% above the 52-week low of $1.02. If we look at the company’s 10-day average daily trading volume, we find that it stood at 11.92 million shares traded. The 3-month trading volume is 8.44 million shares.

The consensus among analysts is that WeWork Inc. (WE) is a Buy stock at the moment, with a recommendation rating of 2.00. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 1 out of 6 have rated it as a Hold, with 5 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.45.

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WeWork Inc. (NYSE:WE) trade information

Sporting -1.18% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Monday, 01/23/23 when the WE stock price touched $1.68 or saw a rise of 8.94%. Year-to-date, WeWork Inc. shares have moved 17.48%, while the 5-day performance has seen it change -6.67%. Over the past 30 days, the shares of WeWork Inc. (NYSE:WE) have changed 16.67%. Short interest in the company has seen 58.14 million shares shorted with days to cover at 9.78.

Wall Street analysts have a consensus price target for the stock at $6.58, which means that the shares’ value could jump 74.47% from current levels. The projected low price target is $3.00 while the price target rests at a high of $9.00. In that case, then, we find that the current price level is -435.71% off the targeted high while a plunge would see the stock gain -78.57% from current levels.

WeWork Inc. (WE) estimates and forecasts

Figures show that WeWork Inc. shares have outperformed across the wider relevant industry. The company’s shares have lost -66.99% over the past 6 months, with this year growth rate of 86.51%, compared to 12.90% for the industry.

3 analysts offering their estimates for the company have set an average revenue estimate of $871.98 million for the current quarter. 3 have an estimated revenue figure of $937.89 million for the next quarter concluding in Dec 2022.

WE Dividends

WeWork Inc. is expected to release its next earnings report between March 09 and March 13 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

WeWork Inc. (NYSE:WE)’s Major holders

Insiders own 8.60% of the company shares, while shares held by institutions stand at 89.11% with a share float percentage of 97.50%. Investors are also buoyed by the number of investors in a company, with WeWork Inc. having a total of 179 institutions that hold shares in the company. The top two institutional holders are SB Global Advisers Ltd with over 324.35 million shares worth more than $1.63 billion. As of Jun 29, 2022, SB Global Advisers Ltd held 45.72% of shares outstanding.

The other major institutional holder is FMR, LLC, with the holding of over 83.51 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $419.2 million and represent 11.77% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Fidelity Blue Chip Growth Fund and Cohen & Steers Real Estate Securities Fund. As of Aug 30, 2022, the former fund manager holds about 1.65% shares in the company for having 11.72 million shares of worth $48.06 million while later fund manager owns 10.42 million shares of worth $52.3 million as of Jun 29, 2022, which makes it owner of about 1.47% of company’s outstanding stock.

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