Cantor Fitzgerald Projects Joby Aviation's FY2025 Earnings

On January 21, 2025, equity analysts at Cantor Fitzgerald released their projections for the fiscal year 2025 earnings of Joby Aviation, Inc. (NYSE:JOBY). Analyst A. Sheppard forecasts that the company will report a loss of earnings per share (EPS) of ($0.85) for the year. Cantor Fitzgerald has assigned an "Overweight" rating and established a target price of $10.00 for the stock.

The current consensus estimate for Joby Aviation's full-year earnings stands at a loss of ($0.69) per share.

Besides Cantor Fitzgerald, other research groups have also updated their views on Joby Aviation. Needham & Company LLC increased their price target from $8.00 to $10.00, maintaining a "buy" rating as reported on January 14. Conversely, JPMorgan Chase & Co. downgraded their rating from "neutral" to "underweight" while raising their price target from $5.00 to $6.00 in a note released on January 10. HC Wainwright reiterated a "buy" rating with a $9.00 target in their report on December 18. Finally, Canaccord Genuity Group adjusted their target price up from $9.75 to $11.50, also issuing a "buy" rating in a report dated January 8. Currently, there is one sell rating and four buy ratings among analysts for the stock, resulting in an average rating of "Moderate Buy" and an average price target of $9.30 according to MarketBeat data.

Joby Aviation Stock Performance

As of Thursday, Joby Aviation stock opened at $8.68. Over the past fifty-two weeks, the stock has experienced a low of $4.50 and a high of $10.72. It has a fifty-day moving average of $8.09 and a two-hundred-day moving average of $6.39, alongside a market capitalization of $6.64 billion. The price-to-earnings ratio stands at -12.39, and the stock has a beta of 2.33, indicating higher volatility compared to the market.

Joby Aviation reported its quarterly earnings data on November 6, revealing an EPS of ($0.21), missing the consensus estimate of ($0.19) by $0.02. The company had a negative return on equity of 51.76% and an extraordinary negative net margin of 42,844.57%. Its revenue for the quarter was $0.28 million, significantly surpassing analyst estimates of $0.06 million. This earnings report reflects a decline from the previous year, where the company posted ($0.13) EPS during the same quarter.

Institutional Trading of Joby Aviation

Recent activity among institutional investors indicates climbing interest in Joby Aviation. Geode Capital Management LLC increased its ownership by 7.7% during the third quarter, now possessing 9,390,720 shares valued at approximately $47.25 million after acquiring an additional 670,852 shares. State Street Corp also grew its stake by 9.5% during the third quarter, now owning 9,372,636 shares worth $47.14 million after buying 812,248 shares. Additionally, Susquehanna Fundamental Investments LLC saw massive growth in holdings by 1,018.5% during the second quarter, now owning 677,116 shares valued at $3.45 million. Holocene Advisors LP increased their stake by 91.7% in the third quarter, owning 521,327 shares valued at $2.62 million, while Janney Montgomery Scott LLC raised its stake by 15.0% to 266,882 shares worth $1.34 million. Overall, institutional investors currently own 52.85% of Joby Aviation's stock.

Insider Activity

In the realm of insider transactions, insider Didier Papadopoulos sold 6,005 shares on December 16 at an average price of $7.65, totaling approximately $45,938.25. Following this transaction, he retains ownership of 54,776 shares valued around $419,036. Insider Bonny W. Simi sold 31,489 shares on January 17 at an average price of $8.33, resulting in a total value of $262,303.37 and retaining 137,097 shares valued at $1,142,018.01 after a decrease of 18.68% in their position. In the past ninety days, insiders have sold a total of 672,338 shares valued at $5.86 million, with 32.40% of the stock currently owned by insiders.

Joby Aviation Company Overview

Joby Aviation, Inc. is a vertically integrated air mobility company specializing in the development of electric vertical takeoff and landing (eVTOL) aircraft aimed at providing air transportation services. The company aspires to create an aerial ridesharing service supported by a user-friendly application platform to facilitate ride bookings for consumers.

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Joby, Aviation, Earnings