Joby Aviation, Inc. (NYSE:JOBY) Receives $13.06 Average Price Target from Analysts

Joby Aviation, Inc. (NYSE:JOBY) has earned a consensus recommendation of “Reduce” from the nine analysts that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $13.0625.

A number of research firms have recently weighed in on JOBY. Wall Street Zen raised Joby Aviation from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 10th. JPMorgan Chase & Co. cut their price objective on Joby Aviation from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Thursday, February 26th. Morgan Stanley cut their price objective on Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. Oppenheimer set a $18.00 target price on shares of Joby Aviation in a research note on Thursday, February 26th. Finally, Canaccord Genuity Group lowered their target price on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a research note on Thursday, May 7th.

Insider Activity

In related news, insider Eric Allison sold 74,844 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $10.00, for a total transaction of $748,440.00. Following the completion of the transaction, the insider owned 676,008 shares in the company, valued at approximately $6,760,080. The trade was a 9.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gregory Bowles sold 11,530 shares of the business’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $9.62, for a total transaction of $110,918.60. Following the transaction, the insider owned 170,360 shares of the company’s stock, valued at approximately $1,638,863.20. The trade was a 6.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 1,096,111 shares of company stock valued at $10,504,153. Insiders own 32.40% of the company’s stock.

Hedge Funds Weigh In On Joby Aviation

A number of institutional investors and hedge funds have recently modified their holdings of the company. Arkadios Wealth Advisors acquired a new position in shares of Joby Aviation during the first quarter worth $90,000. Sunbelt Securities Inc. boosted its stake in Joby Aviation by 19.7% in the first quarter. Sunbelt Securities Inc. now owns 16,425 shares of the company’s stock valued at $136,000 after acquiring an additional 2,700 shares in the last quarter. California State Teachers Retirement System boosted its stake in Joby Aviation by 24.0% in the first quarter. California State Teachers Retirement System now owns 283,367 shares of the company’s stock valued at $2,341,000 after acquiring an additional 54,811 shares in the last quarter. Royal Bank of Canada boosted its stake in Joby Aviation by 7.8% in the first quarter. Royal Bank of Canada now owns 337,505 shares of the company’s stock valued at $2,787,000 after acquiring an additional 24,300 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Joby Aviation by 10.4% in the first quarter. The Manufacturers Life Insurance Company now owns 314,800 shares of the company’s stock valued at $2,600,000 after acquiring an additional 29,544 shares in the last quarter. Institutional investors and hedge funds own 52.85% of the company’s stock.

Joby Aviation Trading Down 0.1%

Shares of Joby Aviation stock opened at $10.35 on Friday. The stock has a market cap of $10.18 billion, a P/E ratio of -9.00 and a beta of 2.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05. The stock’s 50 day simple moving average is $9.28 and its 200-day simple moving average is $11.93. Joby Aviation has a 1-year low of $6.42 and a 1-year high of $20.95.

Joby Aviation (NYSE:JOBY) last announced its earnings results on Tuesday, May 5th. The company reported ($0.12) earnings per share (EPS) 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 analyst estimates of $20.17 million. During the same quarter in the previous year, the company earned ($0.11) earnings per share. Analysts predict that Joby Aviation will post -0.83 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.