#5 - Joby Aviation (NYSE:JOBY)
If you’re considering an investment in drone stocks, you shouldn’t ignore the emerging electric vertical take-off and landing (eVTOL) space. And Joby Aviation Inc. (NYSE: JOBY) is one of the leaders in this space.
Colloquially, eVTOLs are referred to as flying cars or flying taxis. That’s because a key application for the technology will be transporting passengers from airports into cities for around the cost they would pay a ride-sharing company. There are other applications, including reaching remote areas, particularly in disaster relief situations.
However, this is a sector where safety and regulatory approval are paramount. But Joby Aviation is well on its way through meeting the FAA requirements and may be able to begin commercial flights in 2025. That’s a key reason why analysts maintain a bullish posture on JOBY stock. The stock has an $8.88 price target that offers 58% upside from the stock’s price on October 3, 2024.
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.
Read More - Current Price
- $7.09
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 4 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $8.35 (17.8% Upside)
