Brokerages Set Joby Aviation, Inc. (NYSE:JOBY) Price Target at $13.43

Shares of Joby Aviation, Inc. (NYSE:JOBY) have received an average rating of “Reduce” from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $13.4286.

Several analysts recently issued reports on JOBY shares. Zacks Research raised shares of Joby Aviation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 4th. Needham & Company LLC restated a “buy” rating and set a $22.00 target price on shares of Joby Aviation in a report on Thursday, November 6th. The Goldman Sachs Group initiated coverage on Joby Aviation in a research report on Monday, December 1st. They issued a “sell” rating and a $10.00 price target for the company. Morgan Stanley lifted their price objective on Joby Aviation from $7.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 9th. Finally, HC Wainwright reissued a “neutral” rating on shares of Joby Aviation in a research note on Monday, November 24th.

Insider Transactions at Joby Aviation

In other news, insider Didier Papadopoulos sold 6,429 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $15.84, for a total transaction of $101,835.36. Following the completion of the sale, the insider owned 113,718 shares in the company, valued at $1,801,293.12. This trade represents a 5.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Joeben Bevirt sold 23,552 shares of Joby Aviation stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $13.51, for a total transaction of $318,187.52. Following the sale, the chief executive officer directly owned 288,814 shares in the company, valued at approximately $3,901,877.14. The trade was a 7.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 220,878 shares of company stock valued at $3,037,957 in the last three months. 32.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Joby Aviation

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC grew its holdings in shares of Joby Aviation by 8.1% during the 2nd quarter. CWM LLC now owns 9,156 shares of the company’s stock worth $97,000 after purchasing an additional 689 shares during the period. GPS Wealth Strategies Group LLC raised its holdings in Joby Aviation by 22.5% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 3,794 shares of the company’s stock valued at $61,000 after buying an additional 697 shares during the period. Asset Planning Inc lifted its position in Joby Aviation by 70.0% in 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. GoalVest Advisory LLC boosted its stake in Joby Aviation by 2.1% during the fourth quarter. GoalVest Advisory LLC now owns 33,500 shares of the company’s stock worth $442,000 after buying an additional 700 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in shares of Joby Aviation by 4.6% during the third quarter. Thrivent Financial for Lutherans now owns 16,705 shares of the company’s stock valued at $270,000 after acquiring an additional 736 shares during the last quarter. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Joby Aviation Stock Performance

Shares of JOBY opened at $14.75 on Friday. The stock has a 50 day moving average price of $14.53 and a 200 day moving average price of $15.17. Joby Aviation has a one year low of $4.96 and a one year high of $20.95. The stock has a market capitalization of $13.45 billion, a price-to-earnings ratio of -11.01 and a beta of 2.56.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Wednesday, November 5th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.29). The business had revenue of $22.57 million for the quarter, compared to the consensus estimate of $0.02 million. The firm’s revenue was up 7962.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.21) earnings per share. On average, analysts predict that Joby Aviation will post -0.69 earnings per share for the current year.

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.