Joby Aviation, Inc. (NYSE:JOBY) Receives $13.81 Average Price Target from Brokerages

Joby Aviation, Inc. (NYSE:JOBY) has been given an average rating of “Reduce” by the nine analysts that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $13.8125.

JOBY has been the subject of several research reports. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Joby Aviation in a report on Thursday, March 12th. JPMorgan Chase & Co. reduced their price target on shares of Joby Aviation from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Joby Aviation in a research note on Thursday, January 22nd. Canaccord Genuity Group restated a “hold” rating and issued a $15.50 price objective on shares of Joby Aviation in a report on Tuesday, February 3rd. Finally, Needham & Company LLC cut their price objective on Joby Aviation to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th.

Insider Buying and Selling

In related news, insider Kate Dehoff sold 28,260 shares of the company’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $14.72, for a total value of $415,987.20. Following the sale, the insider directly owned 149,369 shares of the company’s stock, valued at $2,198,711.68. This represents a 15.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Didier Papadopoulos sold 10,382 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $9.88, for a total value of $102,574.16. Following the completion of the transaction, the insider owned 134,914 shares of the company’s stock, valued at approximately $1,332,950.32. This trade represents a 7.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,288,420 shares of company stock worth $13,508,032 over the last quarter. Company insiders own 28.50% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp boosted its position in shares of Joby Aviation by 207.4% in the 4th quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock worth $26,000 after purchasing an additional 1,348 shares in the last quarter. Asset Planning Inc raised its stake in Joby Aviation by 70.0% during the third quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock valued at $27,000 after buying an additional 700 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Joby Aviation by 284.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock valued at $27,000 after buying an additional 1,880 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Joby Aviation in the fourth quarter worth $28,000. Finally, Canton Hathaway LLC purchased a new stake in shares of Joby Aviation in the third quarter worth $29,000. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Joby Aviation Stock Performance

JOBY opened at $8.50 on Friday. The stock has a market capitalization of $7.75 billion, a PE ratio of -7.45 and a beta of 2.68. The stock’s 50 day moving average price is $10.03 and its 200-day moving average price is $13.47. Joby Aviation has a 52-week low of $4.96 and a 52-week high of $20.95.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Wednesday, February 25th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.06. The business had revenue of $30.84 million during the quarter, compared to analysts’ expectations of $16.88 million. The business’s revenue was up 5506.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.34) EPS. Research analysts forecast that Joby Aviation will post -0.69 EPS for the current fiscal year.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.