Joby Aviation (NYSE:JOBY) Shares Down 2.9% – What’s Next?

Joby Aviation, Inc. (NYSE:JOBY) dropped 2.9% during trading on Thursday . The company traded as low as $9.33 and last traded at $9.60. Approximately 18,003,649 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 29,166,508 shares. The stock had previously closed at $9.89.

Trending Headlines about Joby Aviation

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

• Positive Sentiment: Exclusive Dubai commercial launch with Uber puts Joby at the front of the first all-electric air-taxi deployments, creating an immediate revenue pathway and real-world operating data. Joby And Uber Test Commercial Electric Air Taxis In Exclusive Dubai Launch
• Positive Sentiment: Uber announced broader moves into air taxis and autonomy; Uber Air in Dubai will be bookable via the Uber app, expanding Joby’s customer reach and distribution channel. Uber Expands Into Air Taxis And Autonomy To Broaden Mobility Platform
• Positive Sentiment: ARK Invest (Cathie Wood) increased allocations to air-taxi names, including multi-million dollar buys in Joby, signaling conviction from a high-profile growth-focused investor which can attract momentum flows. Cathie Wood Doubles Down on Air-Taxi Stocks with Multi-Million Dollar Purchases
• Positive Sentiment: Operational support: Uber’s platform and Dubai authorities backing (RTA exclusivity) will help Joby scale initial operations and marketing for the launch. Uber platform to support Joby Dubai air-taxi operations
• Positive Sentiment: Analyst/media take: some outlets (The Motley Fool) see the Uber tie-up as a credible near-term revenue driver that could validate the business model if operations prove reliable. Are Uber and Joby Aviation Stocks About to Take Off Based on Their Recent Announcement?
• Neutral Sentiment: Comparative coverage (Joby vs. Archer) outlines differing technical, regulatory and commercial timelines; useful context but not an immediate price driver. Joby Aviation (JOBY) vs Archer Aviation (ACHR): Which eVTOL Stock Should You Buy in 2025?
• Neutral Sentiment: Market commentary flags FAA certification timing and the long road to unit economics; these are reminders that regulatory clearance and scaling remain execution risks. Uber and Joby Aviation Team Up: Game Changer or Hype?
• Negative Sentiment: JPMorgan included JOBY on a short-idea list, signaling some institutional skepticism; that can amplify downside pressure and volatility if shorts increase. JPMorgan’s Top Short Ideas, 5 Weeks Later: Were They Right?

Analysts Set New Price Targets

JOBY has been the subject of a number of recent research reports. Oppenheimer set a $18.00 target price on shares of Joby Aviation in a research report on Thursday, February 26th. JPMorgan Chase & Co. dropped their price objective on shares of Joby Aviation from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Thursday, February 26th. HC Wainwright upgraded shares of Joby Aviation from a “neutral” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Thursday, February 26th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $15.50 target price on shares of Joby Aviation in a report on Tuesday, February 3rd. Finally, The Goldman Sachs Group initiated coverage on Joby Aviation in a research note on Monday, December 1st. They issued a “sell” rating and a $10.00 price target for the company. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $13.81.

Joby Aviation Trading Down 2.9%

The firm’s 50-day moving average price is $12.33 and its 200 day moving average price is $14.18. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of -8.42 and a beta of 2.59.

Joby Aviation (NYSE:JOBY) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.06. The business had revenue of $30.84 million during the quarter, compared to the consensus estimate of $16.88 million. During the same quarter in the previous year, the business posted ($0.34) EPS. The company’s revenue for the quarter was up 5506.5% on a year-over-year basis. As a group, equities research analysts anticipate that Joby Aviation, Inc. will post -0.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Joeben Bevirt sold 507,182 shares of Joby Aviation stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $10.62, for a total transaction of $5,386,272.84. Following the sale, the chief executive officer directly owned 31,997,802 shares of the company’s stock, valued at approximately $339,816,657.24. The trade was a 1.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bonny W. Simi sold 110,173 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $13.85, for a total transaction of $1,525,896.05. Following the transaction, the insider owned 125,114 shares of the company’s stock, valued at approximately $1,732,828.90. This represents a 46.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,470,074 shares of company stock worth $16,083,913 in the last ninety days. Insiders own 28.50% of the company’s stock.

Institutional Trading of Joby Aviation

A number of hedge funds and other institutional investors have recently modified their holdings of JOBY. Fifth Third Bancorp increased its holdings in shares of Joby Aviation by 207.4% during the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock worth $26,000 after buying an additional 1,348 shares in the last quarter. Asset Planning Inc grew its position in Joby Aviation by 70.0% during the 3rd quarter. Asset Planning Inc now owns 1,700 shares of the company’s stock worth $27,000 after acquiring an additional 700 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Joby Aviation by 284.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock worth $27,000 after purchasing an additional 1,880 shares in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in Joby Aviation in the fourth quarter valued at about $28,000. Finally, Canton Hathaway LLC bought a new position in Joby Aviation in the third quarter valued at about $29,000. Institutional investors own 52.85% of the company’s stock.

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.