Keep an eye on WeWork Inc. (NYSE:WE). At the moment, WE stock is in freefall with the broader market. But don’t write it off just yet. With flex space demand on the rise, WE stock could be a standout winner. Mizuho analyst Vikram Malhotra just raised their rating on the stock. As quoted by TheFly.com:

“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.”

The analyst also has a “buy” rating on WE stock with a price target of $9.

Even Piper Jaffray analyst Alexander Goldfarb is bullish, with an “overweight” rating and a $10 price target on the stock. He believes the company will be on the path to profitability by late 2023 or early 2024. After all, we have to consider that flex workspace demand is only expected to rise. In fact, about 30% of all office space will be flexible by 2030, according to JLL analysts. This is all as companies start to rethink their office needs.

WeWork Insiders are Bullish

Even better, insiders are bullish, with Chief Executive Officer Sandeep Mathrani buying 30,000 shares for $200,000 in late March. Plus, the company just posted a narrower than expected quarterly loss and higher revenue. In fact, its loss of $803 million was lower than the $844 million loss in its third quarter. Revenue was up to $718 million.

While WE stock is getting beat up, weakness may be an opportunity. If the flex work space market can really grow 50% in the next three years, WE stock could be a standout winner. Let the stock find support and then consider buying for the long haul.

On the date of publication, Ian Cooper did not have (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.