Brokerages Set Joby Aviation, Inc. (NYSE:JOBY) Target Price at $8.67

Shares of Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the six analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $8.67.

JOBY has been the subject of a number of analyst reports. Canaccord Genuity Group lifted their price objective on Joby Aviation from $11.50 to $12.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Needham & Company LLC reissued a "buy" rating and set a $10.00 price objective on shares of Joby Aviation in a report on Thursday, February 27th. JPMorgan Chase & Co. cut their price target on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating for the company in a report on Thursday, February 27th. HC Wainwright reaffirmed a "buy" rating and issued a $9.00 price target on shares of Joby Aviation in a report on Wednesday, April 30th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $7.00 price target (down from $10.00) on shares of Joby Aviation in a report on Friday, April 11th.

Insider Activity at Joby Aviation

In other news, Director Motor Corp/ Toyota acquired 49,701,790 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average cost of $5.03 per share, for a total transaction of $250,000,003.70. Following the completion of the transaction, the director now directly owns 122,573,621 shares in the company, valued at $616,545,313.63. This trade represents a 68.20% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul Cahill Sciarra sold 166,667 shares of Joby Aviation stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $6.78, for a total value of $1,130,002.26. Following the completion of the sale, the director now owns 58,494,728 shares of the company's stock, valued at approximately $396,594,255.84. The trade was a 0.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 753,726 shares of company stock valued at $4,658,913 over the last ninety days. 28.50% of the stock is owned by insiders.

Institutional Trading of Joby Aviation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in shares of Joby Aviation by 5.4% in the 1st quarter. Rhumbline Advisers now owns 626,743 shares of the company's stock valued at $3,773,000 after buying an additional 32,324 shares during the last quarter. Strs Ohio acquired a new stake in shares of Joby Aviation during the first quarter worth $37,000. Intech Investment Management LLC lifted its holdings in shares of Joby Aviation by 70.4% during the first quarter. Intech Investment Management LLC now owns 307,135 shares of the company's stock worth $1,849,000 after buying an additional 126,908 shares in the last quarter. Integrity Alliance LLC. acquired a new stake in shares of Joby Aviation during the first quarter worth $124,000. Finally, PharVision Advisers LLC acquired a new stake in shares of Joby Aviation during the first quarter worth $61,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.

Joby Aviation Stock Performance

Shares of NYSE JOBY traded down $0.71 during midday trading on Friday, reaching $7.81. 24,649,099 shares of the company traded hands, compared to its average volume of 12,743,578. The firm has a market cap of $6.18 billion, a PE ratio of -11.16 and a beta of 2.34. The stock's 50-day simple moving average is $6.45 and its 200-day simple moving average is $7.25. Joby Aviation has a 12 month low of $4.66 and a 12 month high of $10.72.

Joby Aviation (NYSE:JOBY - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. On average, equities research analysts expect that Joby Aviation will post -0.69 EPS for the current year.

About Joby Aviation

Joby Aviation, Inc, a vertically integrated air mobility company, engages in building an electric vertical takeoff and landing aircraft optimized to deliver air transportation as a service. The company intends to build an aerial ridesharing service, as well as developing an application-based platform that will enable consumers to book rides.