Joby Aviation (NYSE:JOBY) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Joby Aviation (NYSE:JOBYGet Free Report) had its target price hoisted by equities research analysts at Canaccord Genuity Group from $9.75 to $11.50 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 11.98% from the stock’s current price.

A number of other equities research analysts have also issued reports on JOBY. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Joby Aviation in a report on Monday, September 30th. Needham & Company LLC initiated coverage on shares of Joby Aviation in a report on Tuesday, November 19th. They issued a “buy” rating and a $8.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on shares of Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, October 29th. Finally, HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Joby Aviation in a report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Joby Aviation presently has an average rating of “Moderate Buy” and an average price target of $8.70.

Check Out Our Latest Research Report on Joby Aviation

Joby Aviation Trading Up 4.5 %

NYSE:JOBY opened at $10.27 on Wednesday. The company’s 50 day moving average is $7.37 and its two-hundred day moving average is $6.13. Joby Aviation has a twelve month low of $4.50 and a twelve month high of $10.72. The company has a market cap of $7.86 billion, a PE ratio of -14.67 and a beta of 2.33.

Joby Aviation (NYSE:JOBYGet Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.02). The firm had revenue of $0.28 million during the quarter, compared to analyst estimates of $0.06 million. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same quarter in the prior year, the firm earned ($0.13) earnings per share. As a group, analysts expect that Joby Aviation will post -0.69 EPS for the current fiscal year.

Insider Transactions at Joby Aviation

In other Joby Aviation news, insider Didier Papadopoulos sold 6,005 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $7.65, for a total value of $45,938.25. Following the transaction, the insider now directly owns 54,776 shares of the company’s stock, valued at $419,036.40. This represents a 9.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Joeben Bevirt sold 250,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $9.84, for a total value of $2,460,000.00. Following the sale, the chief executive officer now directly owns 32,325,793 shares in the company, valued at approximately $318,085,803.12. This represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 355,160 shares of company stock valued at $3,177,342 in the last 90 days. 32.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of JOBY. Larson Financial Group LLC boosted its stake in Joby Aviation by 218.3% during the third quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock valued at $37,000 after buying an additional 5,000 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Joby Aviation during the third quarter valued at $51,000. Sound Income Strategies LLC lifted its holdings in shares of Joby Aviation by 3,311.3% during the third quarter. Sound Income Strategies LLC now owns 10,302 shares of the company’s stock valued at $52,000 after purchasing an additional 10,000 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Joby Aviation by 403.0% during the third quarter. International Assets Investment Management LLC now owns 11,468 shares of the company’s stock valued at $58,000 after purchasing an additional 9,188 shares during the last quarter. Finally, Choreo LLC purchased a new stake in shares of Joby Aviation during the second quarter valued at $60,000. Institutional investors own 52.85% of the company’s stock.

About Joby Aviation

(Get Free Report)

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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