Trump-Zelensky meeting ahead, Fed rate outlook in focus - what’s moving markets
On Monday, Cantor Fitzgerald reaffirmed its positive stance on Joby Aviation Inc (NYSE:JOBY), maintaining an Overweight rating and a $9.00 price target, which aligns with the broader analyst consensus showing potential upside of 47%. The stock, currently trading at $6.11, has seen significant volatility with a 52-week range of $4.50 to $10.72. The endorsement follows a recent conference where Joby Aviation’s Chief Product Officer, Eric Allison, and Investor Relations lead, Teresa Thuruthiyil, provided updates on the company’s progress and milestones.
Joby Aviation, which is developing electric vertical takeoff and landing (eVTOL) aircraft, has recently achieved a significant milestone by delivering its second aircraft to the Department of Defense’s Edwards Air Force Base. This delivery expands Joby’s fleet to five aircraft. The company’s management also confirmed their plans to deliver an aircraft to Dubai by the middle of this year.
Furthermore, Joby Aviation is on track to reach a pivotal goal of carrying its first passengers in the second half of 2025 or the first half of 2026. During the conference, the company highlighted its strategic partnerships with major players such as Delta Air Lines (NYSE:DAL), Toyota (NYSE:TM), and Uber (NYSE:UBER), which are instrumental in its path toward commercialization. According to InvestingPro data, the company maintains a strong financial position with a current ratio of 20.14 and minimal debt-to-equity of 0.04, providing substantial runway for its development plans. Discover 12 additional exclusive ProTips and comprehensive financial analysis with an InvestingPro subscription.
Cantor Fitzgerald’s analyst expressed a long-term bullish view on Joby Aviation, citing the company as one of the most well-positioned in the eVTOL industry to achieve commercial success and obtain the Federal Aviation Administration (FAA) Type Certification. While the company reported an EBITDA of -$561.18 million in the last twelve months, analysts anticipate revenue growth of 15.27% in the coming year. This certification is a critical step toward bringing Joby’s innovative aircraft to market and revolutionizing urban air mobility.
In other recent news, Joby Aviation reported a net loss of $246 million for Q4 2024, with earnings per share (EPS) at -0.34, missing the forecast of -0.19. Despite this earnings miss, the company continues to make strides in product development and strategic partnerships, as highlighted in their recent earnings call. Joby Aviation plans to begin FAA TIA flight testing within the next 12 months, which is a significant step toward achieving certification. Additionally, the company has delivered its second aircraft to the Department of Defense’s Edwards Air Force Base and plans to deliver another aircraft to Dubai by mid-2025. Cantor Fitzgerald recently maintained an Overweight rating on Joby Aviation, reflecting confidence in the company’s long-term prospects. Strategic partnerships with companies like Delta Air Lines, Toyota, and Uber are expected to play a crucial role in Joby Aviation’s path toward commercialization. The company is also focused on expanding its manufacturing capabilities and exploring both direct operations and potential aircraft sales models.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.