Joby Aviation, Inc. (NYSE:JOBY) Stock Has Average Target Price of $12.72

Key Points

• Analysts have a consensus “Reduce” rating on Joby Aviation, with four sells, four holds and two buys; the average 12-month price target is $12.72.
• Joby’s stock opened at $5.14, near its 12-month low of $5.13, while the company reported a quarterly loss of $0.25 per share—slightly worse than estimates—despite revenue exceeding forecasts.
• Insiders sold approximately 919,256 shares worth $5.85 million over the past three months, while institutional investors and hedge funds own 52.85% of the company.

Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) have earned a consensus recommendation of "Reduce" from the ten research firms that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $12.72.

JOBY has been the topic of several analyst reports. Wall Street Zen lowered shares of Joby Aviation from a "sell" rating to a "strong sell" rating in a report on Saturday, August 8th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Joby Aviation in a report on Monday, September 21st. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price objective on shares of Joby Aviation in a report on Monday, September 21st. Needham & Company LLC decreased their target price on shares of Joby Aviation from $18.00 to $15.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Finally, Weiss Ratings raised shares of Joby Aviation from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 14th.

Joby Aviation Price Performance

Shares of JOBY stock opened at $5.14 on Tuesday. Joby Aviation has a 12 month low of $5.13 and a 12 month high of $18.77. The company has a market capitalization of $5.09 billion, a P/E ratio of -5.20 and a beta of 2.66. The stock has a 50 day moving average of $6.82 and a two-hundred day moving average of $8.30. The company has a current ratio of 17.98, a quick ratio of 17.98 and a debt-to-equity ratio of 0.40.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.02). The firm had revenue of $38.64 million for the quarter, compared to the consensus estimate of $30.20 million. Joby Aviation had a negative net margin of 755.11% and a negative return on equity of 55.29%. The business's revenue for the quarter was up 257493.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.41) earnings per share. As a group, equities analysts expect that Joby Aviation will post -1.00 EPS for the current year.

Insider Buying and Selling

In related news, Director Paul Sciarra sold 62,500 shares of the stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $6.09, for a total transaction of $380,625.00. Following the completion of the sale, the director owned 55,640,557 shares in the company, valued at $338,850,992.13. This trade represents a 0.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gregory Bowles sold 5,302 shares of Joby Aviation stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $5.78, for a total transaction of $30,645.56. Following the transaction, the insider directly owned 193,704 shares of the company's stock, valued at $1,119,609.12. This represents a 2.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 919,256 shares of company stock worth $5,846,877 in the last three months. Company insiders own 20.35% of the company's stock.

Institutional Investors Weigh In On Joby Aviation

A number of hedge funds and other institutional investors have recently bought and sold shares of JOBY. Strs Ohio raised its position in Joby Aviation by 2.5% in the 1st quarter. Strs Ohio now owns 50,000 shares of the company's stock worth $413,000 after purchasing an additional 1,200 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Joby Aviation by 11.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 15,304 shares of the company's stock valued at $126,000 after buying an additional 1,532 shares during the last quarter. RFG Advisory LLC boosted its position in Joby Aviation by 12.3% in the 1st quarter. RFG Advisory LLC now owns 14,004 shares of the company's stock valued at $116,000 after buying an additional 1,539 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in Joby Aviation in the 4th quarter valued at $28,000. Finally, International Assets Investment Management LLC increased its stake in shares of Joby Aviation by 14.9% in the 1st quarter. International Assets Investment Management LLC now owns 16,566 shares of the company's stock valued at $137,000 after buying an additional 2,150 shares during the period. 52.85% of the stock is owned by institutional investors and hedge funds.

Joby Aviation Company Profile

Joby Aviation, Inc NYSE: JOBY is an aviation company developing all-electric vertical takeoff and landing (eVTOL) aircraft for commercial passenger transportation. Its aircraft are designed to take off and land vertically like a helicopter while providing quieter, lower-emission transportation for short urban and regional trips.

The company is pursuing an integrated air-taxi business model that includes designing and manufacturing its aircraft, operating passenger services, and developing the software and infrastructure needed to support aerial mobility.

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