Brokerages Set Joby Aviation, Inc. (NYSE:JOBY) PT at $13.81
by Kim Johansen · The Markets DailyShares of Joby Aviation, Inc. (NYSE:JOBY – Get Free Report) have been given an average recommendation of “Reduce” by the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $13.8125.
JOBY has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Joby Aviation in a research report on Thursday, January 22nd. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Joby Aviation in a research report on Thursday, March 12th. The Goldman Sachs Group started coverage on Joby Aviation in a report on Monday, December 1st. They set a “sell” rating and a $10.00 price objective on the stock. JPMorgan Chase & Co. decreased 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. Finally, Needham & Company LLC lowered their target price on Joby Aviation to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 26th.
View Our Latest Report on JOBY
Insider Transactions at Joby Aviation
In other news, insider Kate Dehoff sold 28,260 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $14.72, for a total value of $415,987.20. Following the transaction, the insider owned 149,369 shares of the company’s stock, valued at approximately $2,198,711.68. This trade represents a 15.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric Allison sold 32,448 shares of Joby Aviation stock in a transaction that occurred on Tuesday, December 30th. The stock was sold at an average price of $13.25, for a total transaction of $429,936.00. Following the sale, the insider owned 659,980 shares of the company’s stock, valued at approximately $8,744,735. This represents a 4.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 1,486,368 shares of company stock worth $16,211,332 in the last ninety days. 32.40% of the stock is currently owned by insiders.
Institutional Trading of Joby Aviation
Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada boosted its stake in Joby Aviation by 110.5% during the 1st quarter. Royal Bank of Canada now owns 85,070 shares of the company’s stock worth $512,000 after acquiring an additional 44,659 shares during the last quarter. AQR Capital Management LLC acquired a new stake in Joby Aviation in the first quarter worth $273,000. Strs Ohio acquired a new stake in Joby Aviation in the first quarter worth $37,000. Cetera Investment Advisers boosted its position in shares of Joby Aviation by 16.0% during the second quarter. Cetera Investment Advisers now owns 64,069 shares of the company’s stock worth $676,000 after purchasing an additional 8,840 shares in the last quarter. Finally, Ensign Peak Advisors Inc grew its holdings in shares of Joby Aviation by 3.3% in the 2nd quarter. Ensign Peak Advisors Inc now owns 66,400 shares of the company’s stock valued at $701,000 after buying an additional 2,150 shares during the period. 52.85% of the stock is owned by institutional investors.
Joby Aviation Stock Performance
Shares of NYSE:JOBY opened at $8.12 on Friday. The business has a fifty day moving average of $10.54 and a 200-day moving average of $13.62. Joby Aviation has a twelve month low of $4.96 and a twelve month high of $20.95. The firm has a market cap of $7.40 billion, a PE ratio of -7.12 and a beta of 2.59.
Joby Aviation (NYSE:JOBY – Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.06. The company had revenue of $30.84 million for the quarter, compared to analyst estimates of $16.88 million. The firm’s quarterly revenue was up 5506.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.34) EPS. On average, analysts anticipate 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.