FY2024 EPS Estimates for Joby Aviation Decreased by Analyst

Joby Aviation, Inc. (NYSE:JOBY) – Stock analysts at HC Wainwright reduced their FY2024 earnings per share (EPS) estimates for Joby Aviation in a report issued on Thursday, November 7th. HC Wainwright analyst A. Dayal now expects that the company will earn ($0.72) per share for the year, down from their previous forecast of ($0.70). HC Wainwright currently has a “Buy” rating and a $9.00 target price on the stock. The consensus estimate for Joby Aviation’s current full-year earnings is ($0.69) per share. HC Wainwright also issued estimates for Joby Aviation’s FY2026 earnings at ($0.81) EPS, FY2027 earnings at ($0.77) EPS and FY2028 earnings at ($0.64) EPS.

Several other equities research analysts also recently weighed in on JOBY. JPMorgan Chase & Co. decreased their target price on Joby Aviation from $6.00 to $5.00 and set a “neutral” rating for the company in a research report on Tuesday, October 29th. Canaccord Genuity Group reduced their price target on Joby Aviation from $10.50 to $9.75 and set a “buy” rating for the company in a report on Tuesday, October 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Joby Aviation in a report on Monday, September 30th.

Joby Aviation Price Performance

Shares of NYSE JOBY opened at $6.32 on Monday. Joby Aviation has a 1-year low of $4.50 and a 1-year high of $7.69. The business has a 50-day moving average of $5.34 and a 200-day moving average of $5.32. The company has a market capitalization of $4.52 billion, a price-to-earnings ratio of -8.91 and a beta of 1.97.

Joby Aviation (NYSE:JOBY) last issued its earnings results on Wednesday, November 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Joby Aviation had a negative return on equity of 51.76% and a negative net margin of 42,844.57%. The company had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $0.06 million. During the same period in the previous year, the company earned ($0.13) EPS.

Insider Activity at Joby Aviation

In other Joby Aviation news, insider Didier Papadopoulos sold 6,025 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $5.33, for a total transaction of $32,113.25. Following the transaction, the insider now owns 47,474 shares of the company’s stock, valued at $253,036.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Joby Aviation news, insider Matthew Field sold 5,643 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $5.96, for a total transaction of $33,632.28. Following the transaction, the insider now owns 293,143 shares of the company’s stock, valued at $1,747,132.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Didier Papadopoulos sold 6,025 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $5.33, for a total value of $32,113.25. Following the transaction, the insider now directly owns 47,474 shares in the company, valued at approximately $253,036.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 525,499 shares of company stock valued at $2,667,151. Insiders own 32.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of JOBY. Larson Financial Group LLC lifted its holdings in shares of Joby Aviation by 218.3% in the 3rd quarter. Larson Financial Group LLC now owns 7,290 shares of the company’s stock worth $37,000 after purchasing an additional 5,000 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Joby Aviation by 216.3% in the second quarter. Nisa Investment Advisors LLC now owns 8,540 shares of the company’s stock worth $44,000 after buying an additional 5,840 shares during the period. Empowered Funds LLC bought a new stake in Joby Aviation in the third quarter valued at $51,000. Sound Income Strategies LLC boosted 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 acquiring an additional 10,000 shares during the period. Finally, Integris Wealth Management LLC bought a new position in shares of Joby Aviation during the second quarter worth about $54,000. Institutional investors own 45.54% of the company’s stock.

About Joby Aviation

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.