FY2024 EPS Estimate for Joby Aviation Decreased by Analyst

Joby Aviation, Inc. (NYSE:JOBY) – HC Wainwright dropped their FY2024 earnings estimates for shares of Joby Aviation in a report released on Thursday, November 7th. HC Wainwright analyst A. Dayal now expects that the company will post earnings per share of ($0.72) for the year, down from their prior estimate of ($0.70). HC Wainwright has a “Buy” rating and a $9.00 price target 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.

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

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

Joby Aviation Stock Performance

Joby Aviation stock opened at $5.21 on Monday. The firm’s 50 day moving average price is $5.31 and its two-hundred day moving average price is $5.31. The firm has a market cap of $3.73 billion, a PE ratio of -7.44 and a beta of 1.97. Joby Aviation has a twelve month low of $4.50 and a twelve month high of $7.69.

Insider Transactions at Joby Aviation

In other Joby Aviation news, Director Paul Cahill Sciarra sold 166,666 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $5.15, for a total transaction of $858,329.90. Following the completion of the sale, the director now owns 59,828,059 shares of the company’s stock, valued at $308,114,503.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Paul Cahill Sciarra sold 166,666 shares of Joby Aviation stock in a transaction on Monday, September 30th. The shares were sold at an average price of $5.15, for a total value of $858,329.90. Following the transaction, the director now owns 59,828,059 shares in the company, valued at $308,114,503.85. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Didier Papadopoulos sold 6,025 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $5.33, for a total transaction of $32,113.25. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 525,499 shares of company stock worth $2,667,151. 32.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in JOBY. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Joby Aviation by 215.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 396,682 shares of the company’s stock worth $1,965,000 after acquiring an additional 270,794 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Joby Aviation by 84.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 202,223 shares of the company’s stock worth $1,084,000 after purchasing an additional 92,508 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Joby Aviation during the 1st quarter worth about $324,000. ProShare Advisors LLC raised its position in shares of Joby Aviation by 8.5% during the first quarter. ProShare Advisors LLC now owns 50,103 shares of the company’s stock valued at $269,000 after buying an additional 3,942 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Joby Aviation by 9.1% in the first quarter. Vanguard Group Inc. now owns 34,659,624 shares of the company’s stock valued at $185,776,000 after buying an additional 2,889,012 shares during the period. 45.54% of the stock is owned by institutional investors.

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.