Joby Aviation, Inc. (NYSE:JOBY) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Joby Aviation has received a consensus rating of "Hold" from brokerages, with 1 sell, 4 hold, and 1 buy recommendations, and an average 12-month price target of $10.50.
• Recent analysts’ ratings include a downgrade from Canaccord Genuity from buy to hold, while JPMorgan Chase increased their price target from $5.00 to $7.00 with an underweight rating.
• Joby reported a significant 94.6% decline in quarterly revenue year-over-year, with earnings per share missing estimates at ($0.24) EPS compared to the expected ($0.18) EPS.

Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) has been assigned a consensus recommendation of "Hold" from the six brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $10.50.

A number of equities analysts have recently weighed in on JOBY shares. JPMorgan Chase & Co. upped their price objective on Joby Aviation from $5.00 to $7.00 and gave the stock an "underweight" rating in a research note on Friday, August 1st. Canaccord Genuity Group downgraded Joby Aviation from a "buy" rating to a "hold" rating and upped their price target for the stock from $12.00 to $17.00 in a research note on Thursday, August 7th. HC Wainwright cut shares of Joby Aviation from a "buy" rating to a "neutral" rating in a research report on Thursday, August 7th. Cantor Fitzgerald restated a "neutral" rating and set a $9.00 target price on shares of Joby Aviation in a research report on Monday, June 23rd. Finally, Wall Street Zen cut shares of Joby Aviation from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd.

Joby Aviation Price Performance

Shares of NYSE JOBY opened at $17.81 on Friday. The stock has a market cap of $15.24 billion, a PE ratio of -16.64 and a beta of 2.52. Joby Aviation has a 1 year low of $4.80 and a 1 year high of $20.95. The firm has a fifty day moving average price of $15.69 and a 200-day moving average price of $10.87.

Joby Aviation (NYSE:JOBY - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.06). The company had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.05 million. During the same quarter last year, the business posted ($0.18) EPS. The business's quarterly revenue was down 94.6% compared to the same quarter last year. On average, research analysts expect that Joby Aviation will post -0.69 EPS for the current year.

Insider Activity

In other Joby Aviation news, insider Eric Allison sold 27,538 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $11.97, for a total transaction of $329,629.86. Following the completion of the transaction, the insider owned 660,076 shares in the company, valued at $7,901,109.72. This trade represents a 4.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kate Dehoff sold 52,907 shares of Joby Aviation stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $15.76, for a total value of $833,814.32. Following the completion of the sale, the insider directly owned 149,369 shares in the company, valued at approximately $2,354,055.44. The trade was a 26.16% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,815,011 shares of company stock valued at $25,536,867. 28.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Joby Aviation

Several large investors have recently bought and sold shares of JOBY. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Joby Aviation in the 4th quarter worth $121,000. GAMMA Investing LLC lifted its holdings in shares of Joby Aviation by 5,161.0% in the 1st quarter. GAMMA Investing LLC now owns 34,091 shares of the company's stock valued at $205,000 after acquiring an additional 33,443 shares during the last quarter. California State Teachers Retirement System grew its position in Joby Aviation by 1.1% in the fourth quarter. California State Teachers Retirement System now owns 186,003 shares of the company's stock worth $1,512,000 after acquiring an additional 2,065 shares in the last quarter. Intech Investment Management LLC increased its stake in 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 acquiring an additional 126,908 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Joby Aviation by 16.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 502,909 shares of the company's stock valued at $3,050,000 after purchasing an additional 71,695 shares during the period. Institutional investors own 52.85% of the company's stock.

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.

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