Analysts Set Joby Aviation, Inc. (NYSE:JOBY) PT at $13.64

Joby Aviation, Inc. (NYSE:JOBY) has been assigned a consensus recommendation of “Reduce” from the eight brokerages that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $13.6429.

A number of brokerages have weighed in on JOBY. Canaccord Genuity Group lowered their price target on Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a research report on Thursday, May 7th. Needham & Company LLC reissued a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a report on Wednesday, May 6th. Weiss Ratings downgraded shares of Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Wall Street Zen upgraded shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. Finally, Morgan Stanley cut their price target on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday, May 6th.

Joby Aviation News Roundup

Here are the key news stories impacting Joby Aviation this week:

• Positive Sentiment: Recent coverage says investors are still bidding up Joby Aviation on hopes it can begin commercial air taxi operations this year, a major milestone that would validate the business model and open the door to future revenue. Joby Aviation Stock: Is It More Likely to Hit $15 or $5 This Year?
• Positive Sentiment: Another update highlighted that Joby’s air taxi expansion is fueling investor excitement and lifting sentiment around the company’s long-term growth potential. Why Joby Aviation Stock Popped Today
• Neutral Sentiment: Several executives, including CFO Rodrigo Brumana and CEO Joeben Bevirt, disclosed share sales. The company said these were mainly to cover tax withholding tied to vesting equity awards, which makes the transactions look more routine than conviction-driven. SEC filing
• Neutral Sentiment: Additional insider sales were reported from Didier Papadopoulos, Eric Allison, Kate Dehoff, Gregory Bowles, and Bonny W. Simi, including a pre-arranged Rule 10b5-1 sale. These were also described as tax-related and do not necessarily signal a fundamental change in the outlook. SEC filing
• Negative Sentiment: The key downside risk is that Joby’s aircraft is not yet approved for commercial service, so any delay in regulatory progress could cool the rally and pressure the stock. Article

Joby Aviation Stock Performance

NYSE:JOBY opened at $8.12 on Friday. The firm has a market capitalization of $7.98 billion, a PE ratio of -7.06 and a beta of 2.71. The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36. Joby Aviation has a 12-month low of $7.75 and a 12-month high of $20.95. The firm has a 50-day moving average price of $9.93 and a 200 day moving average price of $10.69.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.09. Joby Aviation had a negative return on equity of 60.54% and a negative net margin of 1,232.62%.The company had revenue of $24.25 million for the quarter, compared to the consensus estimate of $20.17 million. During the same period in the previous year, the business earned ($0.11) earnings per share. Research analysts anticipate that Joby Aviation will post -0.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Paul Cahill Sciarra sold 416,666 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $12.02, for a total transaction of $5,008,325.32. Following the completion of the sale, the director directly owned 55,911,391 shares of the company’s stock, valued at $672,054,919.82. This trade represents a 0.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Joeben Bevirt sold 421,019 shares of Joby Aviation stock in a transaction on Friday, May 15th. The shares were sold at an average price of $10.38, for a total value of $4,370,177.22. Following the completion of the transaction, the chief executive officer owned 31,678,802 shares of the company’s stock, valued at approximately $328,825,964.76. The trade was a 1.31% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,586,582 shares of company stock worth $16,373,620 over the last ninety days. 32.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Joby Aviation

A number of large investors have recently modified their holdings of the stock. Lingotto Investment Management LLP increased its stake in shares of Joby Aviation by 34.2% in the 4th quarter. Lingotto Investment Management LLP now owns 3,138,240 shares of the company’s stock valued at $41,425,000 after buying an additional 799,260 shares during the period. DNB Asset Management AS boosted its holdings in Joby Aviation by 16.3% in the fourth quarter. DNB Asset Management AS now owns 366,281 shares of the company’s stock valued at $4,835,000 after acquiring an additional 51,344 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in Joby Aviation in the third quarter worth about $2,830,000. Vanguard Group Inc. raised its holdings in Joby Aviation by 5.1% during the 4th quarter. Vanguard Group Inc. now owns 52,488,707 shares of the company’s stock worth $692,851,000 after purchasing an additional 2,540,382 shares during the last quarter. Finally, Norges Bank acquired a new position in Joby Aviation during the 4th quarter valued at about $32,269,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

About Joby Aviation

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.