Joby Aviation (NYSE:JOBY) Downgraded to “Neutral” Rating by Cantor Fitzgerald

Joby Aviation (NYSE:JOBY) was downgraded by analysts at Cantor Fitzgerald from an “overweight” rating to a “neutral” rating in a research note issued to investors on Thursday, Marketbeat reports. They currently have a $9.00 price objective on the stock. Cantor Fitzgerald’s target price would suggest a potential downside of 6.59% from the company’s current price. Cantor Fitzgerald also issued estimates for Joby Aviation’s FY2026 earnings at ($0.84) EPS.

Several other brokerages have also recently commented on JOBY. JPMorgan Chase & Co. decreased their price target on shares of Joby Aviation from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Thursday, February 27th. HC Wainwright reissued a “buy” rating and set a $13.00 price objective (up previously from $9.00) on shares of Joby Aviation in a report on Monday. Morgan Stanley reissued an “equal weight” rating and issued a $7.00 target price (down from $10.00) on shares of Joby Aviation in a report on Friday, April 11th. Canaccord Genuity Group restated a “buy” rating and issued a $12.00 price objective on shares of Joby Aviation in a research note on Wednesday, June 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $10.00 price target on shares of Joby Aviation in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.33.

Joby Aviation Stock Up 2.1%

Shares of JOBY opened at $9.64 on Thursday. The stock has a fifty day simple moving average of $6.84 and a two-hundred day simple moving average of $7.37. The company has a market capitalization of $7.63 billion, a PE ratio of -13.76 and a beta of 2.39. Joby Aviation has a 52-week low of $4.66 and a 52-week high of $10.72.

Joby Aviation (NYSE:JOBY) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.07. Joby Aviation had a negative net margin of 42,844.57% and a negative return on equity of 51.76%. During the same period in the prior year, the business posted ($0.14) EPS. As a group, equities analysts anticipate that Joby Aviation will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Joby Aviation news, insider Bonny W. Simi sold 9,695 shares of the business’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $6.78, for a total value of $65,732.10. Following the completion of the transaction, the insider now directly owns 146,941 shares in the company, valued at approximately $996,259.98. The trade was a 6.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Joeben Bevirt sold 250,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $5.89, for a total value of $1,472,500.00. Following the transaction, the chief executive officer now directly owns 32,275,793 shares in the company, valued at approximately $190,104,420.77. This represents a 0.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold 750,950 shares of company stock worth $4,640,619 in the last ninety days. Insiders own 28.50% of the company’s stock.

Institutional Investors Weigh In On Joby Aviation

Hedge funds and other institutional investors have recently made changes to their positions in the business. Whittier Trust Co. acquired a new stake in Joby Aviation in the 4th quarter worth about $38,000. Allworth Financial LP increased its stake in shares of Joby Aviation by 200.6% during the 4th quarter. Allworth Financial LP now owns 4,975 shares of the company’s stock valued at $44,000 after acquiring an additional 3,320 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of Joby Aviation during the 4th quarter worth about $41,000. Toronto Dominion Bank acquired a new stake in shares of Joby Aviation in the fourth quarter worth approximately $41,000. Finally, Carolinas Wealth Consulting LLC purchased a new position in Joby Aviation during the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 52.85% 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.