With flex space demand on the rise, WeWork (WE) could be a big winner in the space.
“WeWork is an undervalued play on changing work preferences of both employees and employers. The analyst says the company is well positioned to take share of the flex office market, which is poised to grow 50% in the next three years, as office tenants rethink footprints and lease formats,” noted Mizuho analyst Vikram Malhotra, as quoted by TheFly.com.
Plus, consider this.
With global inflationary pressures, companies are starting to becoming “more nimble” with their corporate real estate portfolios, says CNBC.
“That … has put the need for companies to look at flexibility in managing and thinking about their workspace,” said Samit Chopra, WeWork’s international president and COO. “That has therefore resulted in many companies, large and small, enterprise clients, freelancers, start-ups … to look at the flexible space sector and companies such as WeWork much more favorably than we saw in the last, say, three years ago. What that has done … is it has skyrocketed the demand for flexible workspace for us across the world.”
Helping, insiders have been buying. CEO Sandeep Mathrani for example bought 50,000 shares at $4.9799. CFO Andre Fernandez bought 40,000 shares for $5 and $5.025.