Joby Aviation, Inc. (NYSE:JOBY) to Post Q3 2024 Earnings of ($0.19) Per Share, HC Wainwright Forecasts

Joby Aviation, Inc. (NYSE:JOBY - Free Report) - Research analysts at HC Wainwright issued their Q3 2024 earnings estimates for Joby Aviation in a research note issued to investors on Tuesday, September 3rd. HC Wainwright analyst A. Dayal forecasts that the company will earn ($0.19) per share for the quarter. 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 Q4 2024 earnings at ($0.19) EPS, FY2024 earnings at ($0.70) EPS, FY2025 earnings at ($0.84) EPS, FY2026 earnings at ($0.80) EPS, FY2027 earnings at ($0.76) EPS and FY2028 earnings at ($0.62) EPS.

Joby Aviation (NYSE:JOBY - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.18) earnings per share for the quarter, hitting the consensus estimate of ($0.18). The firm had revenue of $0.28 million for the quarter, compared to analyst estimates of $0.28 million. During the same period in the prior year, the company earned ($0.17) earnings per share.

JOBY has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their target price on Joby Aviation from $5.00 to $6.00 and gave the company a "neutral" rating in a research report on Wednesday, July 24th. Canaccord Genuity Group dropped their price target on shares of Joby Aviation from $11.00 to $10.50 and set a "buy" rating on the stock in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $10.00 target price on shares of Joby Aviation in a research note on Tuesday.

Joby Aviation Stock Down 1.1 %

JOBY traded down $0.05 during trading hours on Friday, hitting $4.78. 5,010,236 shares of the company's stock were exchanged, compared to its average volume of 5,540,307. The stock's 50-day moving average is $5.51 and its two-hundred day moving average is $5.25. Joby Aviation has a 1-year low of $4.50 and a 1-year high of $7.69. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of -6.26 and a beta of 1.97.

Insider Activity at Joby Aviation

In other news, insider Didier Papadopoulos sold 23,188 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $4.86, for a total transaction of $112,693.68. Following the transaction, the insider now owns 54,666 shares in the company, valued at $265,676.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Kate Dehoff sold 5,815 shares of the company's stock in a transaction on Monday, July 15th. The stock was sold at an average price of $6.76, for a total transaction of $39,309.40. Following the completion of the sale, the insider now directly owns 199,413 shares in the company, valued at approximately $1,348,031.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Didier Papadopoulos sold 23,188 shares of the firm's stock in a transaction on Monday, July 1st. The stock was sold at an average price of $4.86, for a total value of $112,693.68. Following the completion of the transaction, the insider now owns 54,666 shares in the company, valued at approximately $265,676.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 326,032 shares of company stock worth $1,613,336. Insiders own 32.40% of the company's stock.

Institutional Investors Weigh In On Joby Aviation

A number of large investors have recently bought and sold shares of JOBY. New York State Common Retirement Fund raised its position in shares of Joby Aviation by 8.1% in the 4th quarter. New York State Common Retirement Fund now owns 114,331 shares of the company's stock valued at $760,000 after buying an additional 8,595 shares in the last quarter. Victory Capital Management Inc. increased its stake in Joby Aviation by 25.2% in the fourth quarter. Victory Capital Management Inc. now owns 51,534 shares of the company's stock valued at $343,000 after acquiring an additional 10,367 shares during the last quarter. Private Advisor Group LLC acquired a new position in Joby Aviation during the fourth quarter valued at approximately $77,000. Apollon Wealth Management LLC acquired a new stake in shares of Joby Aviation in the 4th quarter valued at $88,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Joby Aviation by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,818,603 shares of the company's stock valued at $25,394,000 after purchasing an additional 64,404 shares during the last quarter. 45.54% of the stock is currently owned by institutional investors and hedge funds.

Joby Aviation Company Profile

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.