Last Updated: 19 Sep 2024
Executive Summary
Joby Aviation (JOBY) is a pre-revenue company developing electric vertical takeoff and landing (eVTOL) aircraft. The company has a market capitalization of approximately $3.7 billion and is headquartered in Santa Cruz, California. JOBY's stock is currently trading at $5.19, below its 52-week high of $7.69.
Company Overview
Joby Aviation was founded in 2009 and is led by CEO JoeBen Bevirt. The company's mission is to "make air travel accessible to everyone." Joby is developing an eVTOL aircraft that is designed to be safe, quiet, and affordable. The company plans to launch commercial operations in 2024.
Fundamental Analysis
Joby Aviation is a pre-revenue company, so it does not have any traditional financial metrics such as earnings per share or revenue. However, the company does have a number of key risk factors that investors should be aware of. These include:
The company's eVTOL aircraft is still in the development stage and has not yet been certified by the FAA.
The eVTOL market is highly competitive, and Joby faces competition from a number of well-funded startups.
The company has a history of operating losses and may continue to incur losses in the future.
Technical Analysis
Joby Aviation's stock has been in a downtrend since reaching a high of $7.69 in November 2021. The stock is currently trading below its 50-day and 200-day moving averages. The relative strength index (RSI) is also below 50, indicating that the stock is oversold.
Short Term Outlook
In the short term, Joby Aviation's stock is likely to continue to trade in a range. The stock could see some upside if the company announces positive news about its eVTOL aircraft or if the broader market rallies. However, the stock could also see downside if the company announces negative news or if the broader market sells off.
Long Term Outlook
In the long term, Joby Aviation's stock has the potential to be a multi-bagger. The eVTOL market is expected to grow rapidly in the coming years, and Joby is well-positioned to be a leader in this market. However, investors should be aware of the risks associated with investing in a pre-revenue company.
Analyst Recommendations
Analysts are mixed on Joby Aviation's stock. Three analysts have a buy rating on the stock, while one analyst has a hold rating and one analyst has a sell rating. The average analyst target price is $8.25.
