Joby Aviation (NYSE:JOBY) Downgraded to "Neutral" Rating by Cantor Fitzgerald

Joby Aviation (NYSE:JOBY - Get Free Report) was downgraded by stock analysts at Cantor Fitzgerald from an "overweight" rating to a "neutral" rating in a report released on Thursday, MarketBeat Ratings reports. They presently have a $9.00 price target on the stock. Cantor Fitzgerald's target price points to a potential upside of 4.66% from the stock's current price. Cantor Fitzgerald also issued estimates for Joby Aviation's FY2026 earnings at ($0.84) EPS.

A number of other equities analysts have also recently issued reports on the company. Canaccord Genuity Group reiterated a "buy" rating and issued a $12.00 price objective on shares of Joby Aviation in a report on Wednesday, June 4th. HC Wainwright reissued a "buy" rating and issued a $13.00 target price (up previously from $9.00) on shares of Joby Aviation in a research note on Monday, June 9th. Morgan Stanley reissued an "equal weight" rating and issued a $7.00 target price (down previously from $10.00) on shares of Joby Aviation in a research note on Friday, April 11th. JPMorgan Chase & Co. lowered their target price on Joby Aviation from $6.00 to $5.00 and set an "underweight" rating for the company in a research note on Thursday, February 27th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $10.00 target price on shares of Joby Aviation in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $9.33.

Joby Aviation Trading Down 3.1%

Shares of JOBY traded down $0.27 during midday trading on Thursday, reaching $8.60. The stock had a trading volume of 24,840,918 shares, compared to its average volume of 13,879,766. The company's 50-day moving average is $6.97 and its 200 day moving average is $7.37. Joby Aviation has a 12-month low of $4.66 and a 12-month high of $10.72. The company has a market capitalization of $6.81 billion, a price-to-earnings ratio of -12.28 and a beta of 2.39.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping 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 period in the previous year, the company posted ($0.14) earnings per share. Research analysts forecast that Joby Aviation will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other Joby Aviation news, Director Motor Corp/ Toyota acquired 49,701,790 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was acquired at an average price of $5.03 per share, for a total transaction of $250,000,003.70. Following the acquisition, the director now owns 122,573,621 shares in the company, valued at $616,545,313.63. This represents a 68.20% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $5.89, for a total value of $1,472,500.00. Following the completion of the sale, the chief executive officer now owns 32,275,793 shares of the company's stock, valued at approximately $190,104,420.77. This trade represents a 0.77% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 750,950 shares of company stock worth $4,640,619. 28.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Joby Aviation

Several institutional investors and hedge funds have recently bought and sold shares of the business. Entropy Technologies LP bought a new position in shares of Joby Aviation in the 4th quarter worth approximately $300,000. Raymond James Financial Inc. bought a new position in shares of Joby Aviation in the 4th quarter worth approximately $2,168,000. Charles Schwab Investment Management Inc. raised its position in shares of Joby Aviation by 10.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,894,326 shares of the company's stock worth $31,661,000 after acquiring an additional 361,520 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Joby Aviation in the 4th quarter worth approximately $311,000. Finally, Deutsche Bank AG raised its position in shares of Joby Aviation by 26.0% in the 4th quarter. Deutsche Bank AG now owns 350,784 shares of the company's stock worth $2,852,000 after acquiring an additional 72,329 shares in the last quarter. Hedge funds and other institutional investors own 52.85% of the company's stock.

Joby Aviation Company Profile

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.