Latest news with #JOBY
Business Insider
5 days ago
- Business
- Business Insider
Cantor Downgrades Joby Aviation Stock (JOBY) Due to Lack of Near-Term Upside
Cantor Fitzgerald downgraded electric vertical takeoff and landing (eVTOL) aircraft maker Joby Aviation (JOBY) to Hold from Buy with a price target of $9 due to a lack of near-term upside in the stock. While JOBY stock plunged about 8% on Thursday due to the rating downgrade, it has rallied 26.5% over the past month. As a result, the stock is up 9.1% year-to-date, thanks to a favorable executive order signed by U.S. President Donald Trump and the announcement of new deals. Confident Investing Starts Here: Indeed, the executive order would direct the Transportation Department to develop a program to accelerate eVTOL operations in the U.S., which is expected to benefit players like Joby Aviation and Archer Aviation (ACHR). This comes after Joby Aviation signed a Memorandum of Understanding (MoU) earlier this month with Abdul Latif Jameel to explore establishing a distribution agreement in Saudi Arabia for the company's electric aircraft. The agreement involves the potential delivery of up to 200 Joby aircraft and related services that are valued at about $1 billion. Cantor Moves to the Sidelines on JOBY Stock Interestingly, Cantor analyst Andres Sheppard admitted that Joby Aviation remains one of the best-positioned companies in the eVTOL sector, given its partnerships with Toyota (TM), Delta Air Lines (DAL), and the U.S. Department of Defense. However, the 4-star analyst finds JOBY stocks' valuation to be stretched, following a 60% rally over the past three months and an almost 90% gain in the past year. 'We don't see current levels as a good entry point for investors,' said Sheppard. The analyst noted that while Joby Aviation has solid liquidity, it also has one of the highest cash burn rates in the sector. In fact, the company ended Q1 2025 with about $1.3 billion in total liquidity, including Toyota's $250 million funding, but expects to spend between $500 million and $540 million in 2025. Additionally, Sheppard cautioned about delays in U.S. certification and doesn't expect Joby Aviation to secure full FAA Type Certification until at least the second half of 2026. Finally, Sheppard pointed out persistent uncertainty around the company's unit economics, such as pricing and deployment costs of its air taxi service. Is Joby Stock a Good Buy? Wall Street has a Moderate Buy consensus rating on Joby Aviation stock based on three Buys, three Holds, and one Sell recommendation. Furthermore, the average JOBY stock price target of $8.86 indicates that the stock is trading close to fair value.
Yahoo
6 days ago
- Business
- Yahoo
Rating Downgrade Dampens Joby Aviation (JOBY)
We recently published a list of . Joby Aviation, Inc. (NYSE:JOBY) is one of the worst-performing stocks on Thursday. Joby Aviation declined by 7.16 percent at intraday trading on Thursday at $8.94 apiece following Cantor Fitzgeral's downgraded rating on its stock. On Thursday, the investment firm lowered its outlook to 'neutral' from 'overweight' previously given the company's recent share price rally and lack of near-term catalysts. A futuristic electric vertical takeoff and landing aircraft soaring through the sky. However, Cantor Fitzgerald said that Joby Aviation, Inc. (NYSE:JOBY) remains one of the best-positioned companies in the electric vertical takeoff and landing (eVTOL) industry, supported by its partnerships with Toyota Motors Corp., Delta Air Lines, and the US Department of Defense. The stock, however, was already up by 60 percent over the past three months and 90 percent over the past year. 'We don't see current levels as a good entry point for investors,' Cantor Fitzgerald said. In recent news, Joby Aviation, Inc. (NYSE:JOBY) earned a boost from President Donald Trump's new executive order aiming to unleash 'American Drone Dominance,' which aims to ramp up the adoption of eVTOL technology. While we acknowledge the potential of JOBY as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. Sign in to access your portfolio
Yahoo
05-06-2025
- Business
- Yahoo
Joby Aviation stock keeps rising on news that it will ‘explore opportunities' to supply flying taxis to Saudi Arabia
Shares in Joby Aviation (NYSE: JOBY) jumped yesterday after the air taxi company announced a potential deal with the Saudi Arabia-based Abdul Latif Jameel. The deal could lead to Joby supplying up to 200 of its eVTOL aircraft. Here's what to know about the potential and its effect on Joby's stock price. The household auto fleet is a money pit Why AI Is Making 1:1 Meetings Irrelevant Where are the wildfires in Canada? Maps pinpoint the location of fires and air-quality threats from smoke Joby Aviation, better known as Joby, is a Santa Cruz, California-headquartered aviation company that is developing a fleet of electric vertical takeoff and landing (eVTOL) vehicles—in other words, flying taxis. Joby was founded in 2009 and went public on the New York Stock Exchange in 2021 via a special purpose acquisition company, or SPAC. Prior to its NYSE debut, Joby was named one of Fast Company's Most Innovative Companies for 2021. While the company is developing flying taxi vehicles, one of its primary aims is to become a service—an Uber of the skies, so to speak. Because of its relatively small market cap of around $6.7 billion and interesting futuristic product (a flying rideshare service), Joby's stock is somewhat popular with investors who lean more toward dabbling in meme stocks and small-cap stocks that have potential to see sky-high returns if their products eventually take off (no pun intended). Joby says it currently has 'strategic partnerships' with Toyota, Delta, and Uber, and it employs more than 1,700 engineers. For its Q1 2025, which ended March 31, Joby reported a net loss of $82.4 million. Yesterday, Joby Aviation announced a potential deal with Abdul Latif Jameel, a business based in Saudi Arabia. Potential is the key word here. That's because the two companies didn't actually agree to sell anything to or buy anything from one another. Instead, they signed a Memorandum of Understanding (MoU). This MoU will see the companies 'explore opportunities to establish a distribution agreement in Saudi Arabia for Joby's electric aircraft,' according to Joby. That potential distribution agreement may see Joby deliver up to 200 air taxis and other related services valued at up to $1 billion to Abdul Latif Jameel 'over the coming years.' Joby has positioned the potential deal as a win-win for both American and Saudi Arabian business interests. 'This collaboration is about bringing America's leadership in electric air mobility to the world,' Joby Aviation CEO JoeBen Bevirt said in a statement announcing the deal. Given that Joby has recently been worth about $6 billion in total, it's no wonder the company's stock jumped yesterday after it announced it was exploring a single deal worth up to $1 billion. By the close of the market yesterday, JOBY stock had risen over 7% to $8.03 per share. In premarket trading this morning, as of the time of this writing, JOBY stock is up another 2%. However, while JOBY stock has been flying high over the past two days, it's important to put the stock's past performance into perspective. Despite JOBY's stock price surge in the last 24 hours, the company's stock was still down year-to-date by 1.23% as of yesterday's close. At the same time, when you look at the last 12 months, JOBY shares have had a significant return. Since last June, the stock has risen nearly 65%. Where the stock goes from here is anyone's guess. However, the company has had some exciting advances in recent years. In February 2024, Joby announced that it plans to launch an air taxi service in Dubai by 2026, and in October 2024, Joby showed off one of its air taxis to much fanfare in New York's Grand Central Station. The company said that an air taxi could carry up to 1,000 pounds of payload/people, had a range of 100 miles, and could reach speeds up to 200 mph. This post originally appeared at to get the Fast Company newsletter:
Fast Company
04-06-2025
- Business
- Fast Company
Joby Aviation stock keeps rising on news that it will ‘explore opportunities' to supply flying taxis to Saudi Arabia
Shares in Joby Aviation, Inc. (NYSE: JOBY) jumped yesterday after the air taxi company announced a potential deal with the Saudi Arabia-based Abdul Latif Jameel. The deal could lead to Joby supplying up to 200 of its eVTOL aircraft. Here's what to know about the potential and its effect on Joby's stock price. What is Joby? Joby Aviation, better known as Joby, is a Santa Cruz-headquartered aviation company that is developing a fleet of electric vertical takeoff and landing (eVTOL) vehicles—in other words, flying taxis. Joby was founded in 2009 and went public on the New York Stock Exchange in 2021 via a special purpose acquisition company, or SPAC. Prior to its NYSE debut, Joby was named one of Fast Company 's Most Innovative Companies for 2021. While the company is developing flying taxi vehicles, one of its primary aims is to become a service—an Uber of the skies, so to speak. Because of its relatively small market cap of around $6.7 billion and interesting futuristic product (a flying rideshare service!), Joby's stock is somewhat popular with investors who lean more toward dabbling in meme stocks and small-cap stocks that have potential to see sky-high returns if their products eventually take off (no pun intended). Joby says it currently has 'strategic partnerships' with Toyota, Delta, and Uber, and it employs more than 1,700 engineers. For its Q1 2025, which ended March 31, Joby reported a net loss of $82.4 million. What deal did Joby announce yesterday? Yesterday, Job Aviation announced a potential deal with Abdul Latif Jameel, a business based in Saudi Arabia. Potential is the key word here. That's because the two companies didn't actually agree to sell anything to or buy anything from one another. Instead, they signed a Memorandum of Understanding (MoU). This MoU will see the companies 'explore opportunities to establish a distribution agreement in Saudi Arabia for Joby's electric aircraft,' according to Joby. That potential distribution agreement may see Joby deliver up to 200 air taxis and other related services valued at up to $1 billion to Abdul Latif Jameel 'over the coming years.' Joby has positioned the potential deal as a win-win for both American and Saudi Arabian business interests. 'This collaboration is about bringing America's leadership in electric air mobility to the world,' Joby Aviation CEO JoeBen Bevirt said in a statement announcing the deal. Joby stock rises on the news Given that Joby has recently been worth about $6 billion in total, it's no wonder the company's stock jumped yesterday after it announced it was exploring a single deal worth up to $1 billion. By the close of the market yesterday, JOBY stock had risen over 7% to $8.03 per share. In premarket trading this morning, as of the time of this writing, JOBY stock is up another 2%. However, while JOBY stock has been flying high over the past two days, it's important to put the stock's past performance into perspective. Despite JOBY's stock price surge in the last 24 hours, the company's stock was still down year-to-date by 1.23% as of yesterday's close. At the same time, when you look at the last 12 months, JOBY shares have had a significant return. Since last June, the stock has risen nearly 65%. Where the stock goes from here is anyone's guess. However, the company has had some exciting advances in recent years. In February 2024, Joby announced that it plans to launch an air taxi service in Dubai by 2026, and in October 2024, Joby showed off one of its air taxis to much fanfare in New York's Grand Central Station. The company said that air taxi could carry up to 1,000 pounds of payload/people, had a range of 100 miles, and could reach speeds up to 200 mph.
Yahoo
30-05-2025
- Business
- Yahoo
Why Joby Aviation, Inc. (JOBY) Soared On Wednesday
We recently published a list of . In this article, we are going to take a look at where Joby Aviation, Inc. (NYSE:JOBY) stands against other best-performing stocks. Joby Aviation soared by 28.78 percent to close at $8.86 apiece as investors gobbled up shares following news that it closed a $250-million investment from giant carmaker Toyota Motor Corporation. According to Joby Aviation, Inc. (NYSE:JOBY), the amount represents the first tranche of the $500-million investment, aimed at supporting certification and commercial production of Joby's electric air taxi. A futuristic electric vertical takeoff and landing aircraft soaring through the sky. 'With this capital and Toyota's legendary production expertise, we're enhancing our ability to scale cutting-edge design and manufacturing to meet the demands of our partners and customers,' said Joby Aviation, Inc. (NYSE:JOBY) founder and CEO JoeBen Bevirt. For his part, Toyota North America CEO Tetsuo Ogawa said that the investment reflects the two companies' dream 'of mobility for all and our commitment to achieving a future of air mobility.' Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric, vertical take-off and landing air taxi, which it intends to operate as part of a fast, quiet, and convenient service in cities around the world. Overall, JOBY ranks 1st on our list of best-performing stocks. While we acknowledge the potential of JOBY, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than JOBY and that has 10,000x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
