Why Joby Shares Are Soaring Today?

GuruFocus
01-25

On Friday morning, shares of Joby Aviation (JOBY, Financial) rose 6% on the heels of analysts showing confidence in the last couple of days. Earlier this week, Cantor Fitzgerald issued an updated report on the company, predicting an earnings loss of $0.85 per share in FY2025, and maintained its 'Overweight' rating and $10 price target. Joby is still expected to lose $0.69 per share this year, according to the consensus forecast.

Recently, other analysts have also weighed in on Joby Aviation. JPMorgan Chase & Co. lowered its stock from "Overweight" to "Underweight" but raised its price target from $5.00 to $6.00. Needham & Company LLC entered with a 'Buy' rating, and its price target improved from $8.00 to $10.00. Also similar, HC Wainwright reiterated a "Buy" rating with a $9.00 price target, while Canaccord Genuity Group pushed its price target to $11.50 from $9.75, keeping its "Buy" rating.

Both a surge in investor interest and the belief that the company can deliver on its long-term promise in the fast-growing electric vertical takeoff and landing (eVTOL) segment have played a role in the stock's recent rally.

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