Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in JOBY over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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Joby Aviation remains a high-conviction, execution-driven story, with upside hinging on successful certification and commercial rollout in urban air mobility. The Virgin Atlantic partnership provides JOBY with a ready-made UK distribution channel, de-risking commercialization and accelerating potential revenue ramp post-certification. Current financials show heavy losses and high cash burn, but a $2.5B liquidity position offers multiple years of runway to fund certification and scale-up.
SANTA CRUZ, Calif.--(BUSINESS WIRE)---- $JOBY--Joby Aviation, Inc. (NYSE:JOBY), a company developing electric air taxis for commercial passenger service, today announced that it expects to release its second quarter 2026 financial results after market close on Wednesday, August 5, 2026, and to host a webcast at 5:00 pm ET on the same day. The webcast will be publicly available in the Upcoming Events section of the company website, www.jobyaviation.com. If unable to attend the webcast, to listen by phone,.
FARNBOROUGH, England--(BUSINESS WIRE)---- $JOBY--Joby Aviation, Inc. (NYSE: JOBY), a company developing electric air taxis for commercial passenger service, and Virgin Atlantic, a premium long-haul UK airline, today signed a definitive agreement at the Farnborough International Airshow, formalizing the partnership the companies first announced in 2025 to bring Joby's air taxi service to the UK. The agreement converts the partnership announced in 2025 into a binding, multi-year commercial framework, estab.
Joby Aviation (NYSE:JOBY | JOBY Price Prediction) trades at $7.47, and our 24/7 Wall St. price target for the stock is $11.01 over the next 12 months. That implies 47.39% upside. Our recommendation is hold, at medium confidence. Bulls need certification and Dubai revenue catalysts to push shares back to the mid-teens.
24/7 Wall St. Price Target Summary Metric Value Current Price $7.47 24/7 Wall St. Price Target $11.01 Implied Upside 47.39% Recommendation HOLD Confidence Level Medium A Brutal Year for JOBY Shareholders Joby shares are down 43.41% year to date and 57.99% over the past year, with a 25.3% drop in the last month.
Q4 2025 delivered a double beat: revenue of $30.84 million against a $16.88 million estimate and an EPS loss of $0.14 versus the $0.20 expected loss. Management guided full-year 2026 revenue to $105 million to $115 million and raised roughly $1.2 billion in February, lifting total liquidity above $2.6 billion.
The Dubai passenger service is imminent, and Joby was selected for the White House-backed eVTOL Integration Pilot Program.
Why Bulls See a Path to $15+ The bull case rests on execution. If Joby launches paid Dubai service in 2026 with visible flight volumes, FAA Type Certification advances to Stage 5, and the Kazakhstan letter of intent for up to $250 million in aircraft and services converts to a firm order, re-rating could be sharp.
The Ohio facility supports up to 500 aircraft per year, and management plans to double production from 2 to 4 aircraft per month in 2027. An upside scenario puts JOBY at $15 to $17, still short of a full double.
The Risks Worth Watching Cash burn is the core bear concern. Joby posted a FY2025 net loss of $929.84 million and burned $509.89 million in operating cash. H1 2026 cash usage is guided at $340 million to $370 million. Insider activity has skewed toward selling with 92 recent transactions.
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Certification timelines could slip, and competitor Archer is racing for the same US commercial launch window. Joby’s headline loss was inflated by non-cash items, including a $72.57 million warrant revaluation gain, and heavy R&D spend of $161.26 million reflects investment in a program that could dominate the category. If certification slips into 2027, a bear scenario around $5 is plausible.
How Joby Compares to Archer and EHang Archer Aviation (NYSE:ACHR) targets the same White House pilot program and LA28 Olympics. Archer’s market cap sits at $4.05 billion, roughly half of Joby’s, yet Archer generated just $1.6 million in Q1 2026 revenue. Joby’s revenue lead supports our target.
EHang Holdings (NASDAQ:EH) already operates commercially in China with a market cap of just $290 million despite holding full CAAC certification for pilotless human-carrying eVTOL. EHang delivered a record 221 units in FY2025. That EHang trades at a fraction of Joby’s valuation with actual commercial deliveries is a caution flag for our target.
Hold for Now, But Watch Dubai Closely The 24/7 Wall St. price target for Joby is $11.01, our recommendation is hold, and our confidence is medium. The key factor is Dubai commercial revenue against continued cash burn.
A buyer case emerges if Dubai passenger flights launch on schedule and FAA Stage 5 progress is confirmed. Stay on the sidelines if H1 2026 cash burn exceeds guidance or if the Kazakhstan LOI fails to convert. Doubling this year is unlikely, but a 40% to 50% rebound to our target is a fair base case.
Joby Price Prediction 2026-2030 Year 24/7 Wall St. Price Target 2026 $11.01 2027 $14.00 2028 $18.00 2029 $22.00 2030 $26.00 These projections assume Joby executes its Dubai launch, achieves FAA Type Certification by 2027, and scales production to Ohio facility capacity. Significant upside or downside could result from certification delays, dilutive capital raises, or acceleration of the Tokyo 2030 commercial service milestone.
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Amova Asset Management Americas Inc. raised its holdings in shares of Joby Aviation, Inc. (NYSE:JOBY – Free Report) by 48.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,678,495 shares of the company’s stock after purchasing an additional 870,244 shares during the quarter. Amova Asset Management Americas Inc. owned approximately 0.27% of Joby Aviation worth $22,124,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fifth Third Bancorp grew its position in shares of Joby Aviation by 207.4% in the fourth quarter. Fifth Third Bancorp now owns 1,998 shares of the company’s stock valued at $26,000 after purchasing an additional 1,348 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Joby Aviation by 284.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,540 shares of the company’s stock worth $27,000 after buying an additional 1,880 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of Joby Aviation during the fourth quarter worth $28,000. Pandora Wealth Inc. bought a new stake in shares of Joby Aviation in the fourth quarter valued at about $32,000. Finally, DV Equities LLC acquired a new position in shares of Joby Aviation in the fourth quarter valued at about $33,000. 52.85% of the stock is currently owned by institutional investors and hedge funds.
Joby Aviation Trading Up 3.7% JOBY opened at $7.50 on Tuesday. Joby Aviation, Inc. has a twelve month low of $6.89 and a twelve month high of $20.95. The company has a quick ratio of 22.05, a current ratio of 22.06 and a debt-to-equity ratio of 0.36. The company has a fifty day moving average of $9.57 and a 200-day moving average of $10.29. The stock has a market cap of $7.37 billion, a PE ratio of -6.52 and a beta of 2.71.
Joby Aviation (NYSE:JOBY – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.09. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. The business had revenue of $24.25 million for the quarter, compared to analysts’ expectations of $20.17 million. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. On average, sell-side analysts predict that Joby Aviation, Inc. will post -0.83 EPS for the current year.
Insider Transactions at Joby Aviation In related news, insider Kate Dehoff sold 14,240 shares of the business’s stock in a transaction on Tuesday, July 14th. The shares were sold at an average price of $7.73, for a total transaction of $110,075.20. Following the transaction, the insider owned 180,179 shares in the company, valued at $1,392,783.67. The trade was a 7.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Joeben Bevirt sold 421,019 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $10.38, for a total transaction of $4,370,177.22. Following the completion of the sale, the chief executive officer owned 31,678,802 shares of the company’s stock, valued at $328,825,964.76. The trade was a 1.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 1,125,580 shares of company stock valued at $12,172,117. 20.35% of the stock is owned by insiders.
Wall Street Analyst Weigh In Several equities research analysts recently weighed in on JOBY shares. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 price objective on shares of Joby Aviation in a research report on Wednesday, May 6th. Morgan Stanley lowered their price objective on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. Wall Street Zen upgraded Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Canaccord Genuity Group decreased their price target on Joby Aviation from $15.50 to $11.50 and set a “hold” rating on the stock in a research note on Thursday, May 7th. Finally, Weiss Ratings raised Joby Aviation from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Joby Aviation currently has an average rating of “Reduce” and an average target price of $13.64.
View Our Latest Analysis on JOBY
About Joby Aviation (Free Report)
Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.
The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.
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When a high-growth stock drops below a psychological price level, like $10, investors naturally ask the same question: Has something gone wrong? In the case of Joby Aviation (JOBY 1.50%), the answer isn't as straightforward as many investors think.
The company hasn't reported a major operational setback. It continues to make progress toward commercializing its electric flying taxis, remains well-funded, and still expects to begin carrying passengers in 2026. So why has the stock fallen?
The answer has less to do with Joby Aviation's business and more with changes in investors' expectations.
Image source: Getty Images.
Investors are no longer paying for potential alone For years, Joby Aviation's investment story revolved around the possibility of air taxis making technological breakthroughs.
So far, things seem to be moving in the right direction. The company demonstrated successful flight tests, advanced through FAA certification, expanded manufacturing capacity, and built partnerships with companies such as Toyota Motor , Delta Air Lines, and Uber Technologies. Each milestone strengthened confidence that flying taxis could eventually become a reality.
But that was the past. Today, however, investors want something more tangible, that the business can generate revenue.
Joby Aviation is approaching the point where technological progress alone is no longer enough to drive the stock higher. Investors now want evidence that the company can begin commercial operations and turn years of research and development into a real business. And 2026 is the pivotal year when the company expects to launch its services across multiple U.S. cities.
That shift in expectations often happens as innovative companies move closer to commercialization. The market becomes less interested in what could happen and more interested in what will happen over the next few quarters.
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Commercial success is still far from guaranteed And here's the thing: Even if Joby launches commercial flights in 2026, the company will still have plenty to prove. Flying passengers is only the beginning. Joby must show that customers are willing to use the service regularly, ticket prices can support healthy margins, and its operations can scale safely and efficiently.
These questions matter because successful technology doesn't always become a successful business. It will require management to execute well across multiple fronts to build a viable business model.
And that's how Investors are beginning to evaluate Joby. Instead of asking whether flying taxis can work, they're asking whether they can generate sustainable revenue, profits, and, ultimately, attractive returns on capital.
The truth about profitability that investors should know While it makes a lot of sense to include air taxis as part of future transportation infrastructure, it will still take years before the business turns a profit.
The main reason is that the company must continue to spend heavily on engineering, manufacturing, certification, and commercial preparation. Even if we assume the service goes live as planned, further investments will still be needed across the whole operation.
Thus, in today's market, where many investors prefer companies already generating cash flow rather than businesses still investing heavily for future growth, Joby Aviation (and its stock price) will likely see volatility in the near future.
What does it mean for investors? Joby Aviation's decline below $10 doesn't necessarily mean its long-term investment thesis has broken. Instead, it reflects a market that has become more demanding.
Investors are no longer rewarding certification milestones and partnership announcements the way they once did. They now want evidence that Joby Aviation can launch commercial operations, attract paying customers, and build a profitable business. That's a much higher bar to meet.
For long-term investors, the opportunity remains compelling if Joby Aviation executes well over the next several years. But until the company begins converting technological progress into commercial success, the stock is likely to remain volatile.
If you've been holding out on Joby Aviation (JOBY +0.89%), whether because of its lofty valuation or unfinished certification process, now might be a good time to take a second look at the beaten-down aviation stock.
Over the past month, Joby stock has lost about 21% of its value; year to date, about 47% has been shaved off. The company now has a $7.5 billion market capitalization, which still isn't cheap considering it could be years away from generating meaningful revenue.
Joby's steep, not to say vertical, decline isn't all that surprising. In fact, even the most bullish forecasts for the nascent electric vertical takeoff and landing (eVTOL) market have warned investors not to get too hung up on a slow regulatory process.
At today's price, I think Joby is looking like a long-term buy, and it's for similar reasons that investors are currently shying away from it.
Joby Aviation is moving forward, even if the stock is moving backward In a nutshell, Joby Aviation is trying to build the first real air-taxi company in the U.S.
To that end, the company has more real-world proof than most of its eVTOL peers. It has logged tens of thousands of miles across its eVTOL fleet, is currently testing its FAA-conforming aircraft in preparation for Type Inspection Authorization (TIA), and has begun preparatory work with its partner Toyota Motor (TM 0.91%) to begin commercial production.
Image source: Joby Aviation.
Joby has also partnered with Delta Air Lines and Uber Technologies, acquired Blade Air Mobility's passenger business, and is participating in a White House-backed eVTOL program, which could give it an opportunity to begin early operations in some states before the end of this year.
And yet the stock sinks. Not all that surprising, to be honest. Hype over Joby reached a fever pitch last year, when it and its rival Archer Aviation became two of the market's hottest speculative stocks, fueled by growing enthusiasm for flying cars and the prospect of future commercial launches.
Commercial launches are, to be sure, moving forward, just not as quickly as some bullish investors might have hoped. Its progress, nevertheless, is consistent with Morgan Stanley's long-standing warning that eVTOL technology would likely advance faster than the regulatory framework needed to commercialize it. As Morgan Stanley notes: "[W]e would encourage great patience in the early years as the hurdles of certification are also likely underestimated."
In 2021, Morgan Stanley predicted that the global urban air mobility market could reach $1 trillion by 2040 and $9 trillion by 2050 in its base-case scenario (its bullish case sees the market at about $19 trillion by 2050). If Joby captured even a sliver of that market, its revenue growth could be enormous.
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Is Joby Aviation stock a buy? Wall Street seems to be dumping Joby because certification is taking time, but I think the slow progress was always a part of even the most bullish thesis. That, to me, is what makes Joby a compelling stock. Nothing has changed negatively for its business; indeed, its prospects have improved.
For aggressive investors with a long-term time horizon, Joby's progress makes it increasingly interesting. I would certainly treat it as a speculative play, but one that could deliver monster gains over the long run.
Eric Allison, Chief Product Officer of Joby Aviation, Inc. (JOBY 3.74%), reported a non-discretionary sale of 27,932 shares at $7.53 per share on July 13, 2026. SEC Form 4 filing
Transaction summaryMetricValueTransaction value~$210,000Shares sold27,932Post-transaction shares (directly held)710,396Post-transaction value$5.31 millionTransaction value based on SEC Form 4 weighted average sale price ($7.53); post-transaction value based on July 13, 2026, market close ($7.48).
Key questionsWhat initiated this disposal?
The sale was non-discretionary and performed to cover mandatory tax withholding requirements resulting from the vesting and settlement of RSU awards, which are periodically released based on the insider's continued service.How does this affect the insider's net exposure to the company?
While the transaction reduced direct common stock holdings by 4%, the insider continues to hold a substantial equity position, including ~710,000 directly held shares and ~107,000 derivative securities, including vested and unvested awards.What is the current business context for Joby Aviation?
The Santa Cruz-based firm is a vertically integrated air mobility company focused on developing electric vertical takeoff and landing aircraft for aerial ridesharing, reporting trailing twelve-month revenue of $77.7 million and a net loss of $957.4 million.Company OverviewMetricValueShare Price (as of market close 2026-07-15)$7.76Market Capitalization$7.8 billionRevenue (TTM)$77.7 millionNet Income (TTM)-$957.4 millionCompany SnapshotJoby Aviation is a vertically integrated air mobility company developing electric vertical takeoff and landing (eVTOL) aircraft designed to provide on-demand air transportation services through an aerial ridesharing platform.The company generates revenue through the development and commercialization of proprietary eVTOL technology, with a business model centered on launching and operating an aerial ridesharing service for urban air mobility.Joby's target market comprises urban and metropolitan areas seeking innovative transportation solutions, with primary customers including potential ridesharing passengers and strategic partners in the aviation and mobility sectors.Joby Aviation operates as a capital-intensive technology and manufacturing enterprise focused on pioneering the electric air mobility sector. With 2,559 employees and headquarters in Santa Cruz, California, the company is advancing toward commercializing its eVTOL platform, positioning itself at the forefront of urban air mobility innovation. The company's competitive advantage lies in its vertically integrated approach and proprietary aircraft design, though it remains in a pre-revenue commercialization phase with significant ongoing development investments.
What this transaction means for investorsInvestors shouldn’t let Allison’s sale sway how they feel about Joby Aviation stock, as it was a non-discretionary sale for tax withholding purposes. The more important things to monitor are Joby’s progress toward new milestones along its pathway to FAA type certification, ramping its manufacturing capabilities, and scaling its overall business while its $2.5 billion cash balance backs it.
I have a starter position in Joby Aviation and will likely add to it over time, especially given the stock is down over 50% from its 52-week high. My favorite reason for considering the stock is that it is founder-led by JoeBen Bevirt, a serial inventor and entrepreneur. He holds dozens of patents and has made Joby his core focus for the last two decades, essentially building the company’s eVTOLs from scratch.
That said, Joby will likely remain a very high-risk, high-reward growth stock for at least a decade as it continues to add to its growing customer base, secure new flying certifications, and eventually consider integrating autonomous flying into its eVTOLs. Armed with a manufacturing joint venture with Toyota Motor Corporation and helmed by one of the more impressive founders of our era in the engineering niche, Joby will be a fun stock to watch over the years, but I wouldn’t recommend making a large bet on the stock just yet.
Josh Kohn-Lindquist has positions in Joby Aviation. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Joby Aviation (NYSE:JOBY | JOBY Price Prediction) is developing commercial air taxis while its stock trades near a 52-week low. CEO JoeBen Bevirt calls 2026 “a key inflection point” for the eVTOL pioneer, with first passenger service in Dubai this year and a Toyota manufacturing joint venture in hand.
Yet shares sit at $8.92, down 32.42% year to date. Can this stock reach $53 by 2030, a 500% gain?
Why Joby Shares Are Stuck Despite an Improving Narrative The disconnect between story and price is severe. Over the past month JOBY is down 6.6%, and the one-year return sits at negative 15.45%. June brought a brutal Russell rebalancing that saw nearly 40% of the public float turn over, and short interest surged into summer.
Joby burned $509.9 million in operating cash in 2025 and another $144.4 million in Q1 2026. Stock-based compensation grew to $127.9 million last year, adding dilution on top of equity raises. With a beta of 2.706, every macro wobble hits harder here than in almost any stock. This is a market waiting for FAA certification proof.
Wall Street Sees 25% Upside. Our Model Says More. The analyst consensus target of $11.12 implies just 24.66% upside. The rating distribution is telling: 1 Strong Buy, 2 Buy, 5 Hold, 2 Sell, and 1 Strong Sell. Our model is more constructive.
The one-year base case sits at $11.69, with a bull case of $15.10. Stretch to five years and the bull case reaches $29.84, a 234.47% total return. Confidence is moderate at 0.5. Analysts anchored on 27% bullish sentiment are underweighting how quickly revenue could inflect once FAA type certification lands.
The Path to $53 Per Share Reaching $53 from today’s price of $8.92 requires a 494.2% gain. With forward EPS of negative $1.20, the forward multiple at $53 is negative 44x. Earnings must flip positive first, then compound rapidly. Joby needs revenue to explode from $53.4 million in 2025 through the $105 to $115 million guided for 2026, then toward projected $458 million by 2028.
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The catalyst stack is real. The Toyota joint venture announced in late June (51% Toyota, 49% Joby) pushed shares up 10.54% on July 6 and brings a conditional $250 million second tranche. The Dayton facility targets 500 aircraft per year.
A Jefferies survey found 79% of respondents interested in trying eVTOLs. Bevirt says Joby has begun to “shift our focus from how and when we’ll go to market, to how many aircraft we can produce and where to deploy them.” The primary risk is FAA type certification slippage, which would push every downstream milestone right and force dilutive capital raises.
Where Joby Trades Today vs Its Earnings Power With forward EPS still negative at negative $1.20, forward P/E is not meaningful. Price-to-sales sits at a lofty 107.5x trailing revenue. Shares are 47% below the 52-week high of $20.95 and only 15% above the low of $7.75. Over five years the stock is down 10.44%. The bull case only works if 2026 to 2028 revenue delivers on guidance and unit economics turn positive.
Is $53 Realistic? My Verdict Reaching $53 by 2030 requires a 494.2% gain, well above even our five-year bull case of $29.84. It is a stretch case well beyond our base scenario.
Three things must go right: FAA type certification lands on schedule, the Toyota manufacturing venture drives cost per aircraft down materially, and Dubai plus U.S. eIPP operations validate real passenger economics. Another year of certification delay would force dilutive capital raises and derail the thesis. We’ve outlined the blueprint for how Joby Aviation could reach $53 in 2030.
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Joby Aviation (JOBY +5.83%) stock is rising in Monday's trading. The company's share price was up 6.5% as of 2 p.m. ET. At the same point in the daily session, the S&P 500 was up 0.7%, and the Nasdaq Composite was up 0.9%. The stock had been up as much as 11.1% earlier in the session.
Bullish momentum for the broader market is helping to lift Joby stock today. The company's valuation is also getting a continued boost from the announcement of an electric vertical take-off and landing (eVTOL) production partnership with Toyota.
Image source: Getty Images.
Joby is gaining amid bullish momentum for the market today The broader market is gaining today, and Joby is benefiting from the bullish momentum. While the gains for the S&P 500 and the Nasdaq Composite are largely being led by a resurgence for artificial intelligence (AI) chip stocks after sell-offs last week, the positive valuation sentiment is extending to stocks in other categories with growth-dependent and highly speculative valuations.
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Joby stock is continuing to see gains connected to its Toyota partnership On June 30, Joby and Toyota announced that they had entered into a partnership for the manufacturing of eVTOL craft. Joby will own 49% of the Joby Toyota Aero Manufacturing Preparation Company, and Toyota will own 51%.
Toyota has long been a funding partner for Joby, but the auto giant is now stepping in to play a leading role in the buildout of manufacturing operations for Joby's aircraft. Having Toyota on board looks like a significant win for Joby and could help the eVTOL specialist get to a place where its crafts can actually generate profits.
Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Joby Aviation (JOBY 4.47%) is an aviation start-up that's designing a flying taxi, otherwise known as an electric vertical takeoff and landing (eVTOL) aircraft.
Don't let the term "flying taxi" fool you: Joby's aircraft looks nothing like the flying bubble cars on The Jetsons. Rather, Joby's eVTOL has six rotors that tilt independently, a stunning mechanism that lets it take off vertically like a helicopter, then fly forward like an airplane.
Image source: Joby Aviation.
The aircraft, if certified by the Federal Aviation Administration (FAA), could shake up how we travel in cities.
Today, to get from point A to point B, most travelers don't have the means to hire a private helicopter. At some point in the future, an everyday city commute could involve reserving a Joby aircraft on your phone, much like you would an Uber.
The potential market opportunity for Joby could be staggering. An often-cited Morgan Stanley (MS +0.98%) report estimated that the urban air mobility and eVTOL market could be worth $1 trillion by 2040. Since that report was published in 2021, circumstances have changed in Joby's favor, including a Trump administration program aimed at accelerating eVTOL deployment, all of which could see eVTOL adoption arrive sooner than the report originally predicted.
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Joby stock has dropped over 20% since the summer began, largely due to general market volatility driven by high interest rates, which could pressure the company's balance sheet.
Against that backdrop, however, Joby has been progressing steadily. In April, Joby completed the first-ever point-to-point eVTOL demonstration flight in New York City. And in June, it solidified a strategic alliance with Toyota to start groundwork for their joint eVTOL production.
Joby stock will likely continue to experience turbulence until its future with the FAA becomes more clear. At this point, only aggressive investors with a long-term horizon will likely want to buy the dip on this growth stock.
Steven Porrello has positions in Joby Aviation. The Motley Fool has positions in and recommends Uber Technologies. The Motley Fool has a disclosure policy.
The biggest question surrounding Joby Aviation (JOBY 1.12%) has never been whether electric air taxis can fly. It's whether regulators would approve them.
That question became a little easier to answer after Joby began flying its first FAA-conforming production eVTOL aircraft, a major step toward obtaining Type Inspection Authorization (TIA). If you're unfamiliar, TIA is one of the final stages before full FAA certification for commercial operations.
The company has now logged more than 50,000 miles of test flights, and management continues targeting commercial service this year. A lofty goal, to be sure. But does it make the stock a buy?
The regulatory risk is falling For years, FAA certification has been the single largest overhang on the stock.
With production-conforming aircraft now flying, Joby has moved beyond testing prototypes and into validating the aircraft that regulators will ultimately certify for passenger service. That's a much different stage of development than we were looking at just a year ago.
Joby was also recently selected to participate in the White House-backed Air Taxi Pilot Program, which will allow early operations across multiple U.S. states. This is while the company is now preparing to launch service in Dubai, where vertiports are already under construction. Those are significant milestones.
Valuation still demands perfection The fact is, the stock already reflects considerable optimism. Joby currently carries a market capitalization of roughly $8.5 billion despite generating very little revenue today. However, that's not unusual for an emerging aerospace company.
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But concerns regarding execution remain. Launching an entirely new form of transportation requires FAA certification, manufacturing scale, charging infrastructure, pilot training, customer adoption, and favorable economics -- all at the same time.
So even after certification, profitability could still be years away.
A lot has to go right Certification is only one milestone. Joby plans to produce four aircraft per month by 2027, but scaling manufacturing while maintaining safety standards is one of the hardest challenges in aerospace. At the same time, the company must prove that customers are willing to pay enough to support a profitable business model. And we just don't know how that will play out yet.
Image source: Getty Images.
Not a low-risk investment Joby has unquestionably reduced one of the biggest risks facing its business. That's an important development, and it makes the path toward commercialization considerably clearer than it was a year ago.
Still, I wouldn't call the stock an obvious buy. The market is already assigning an $8.5 billion valuation to a company that has yet to establish a commercial air taxi business. That leaves relatively little room for execution mistakes.
If Joby delivers on certification, launches service on schedule, and proves demand exists, today's valuation could eventually look reasonable. But until those pieces fall into place, I'd view the stock as an intriguing technology story with loads of potential but not a low-risk investment.
Joby Aviation (NYSE:JOBY | JOBY Price Prediction) has been one of the most volatile names in the eVTOL space. After a punishing first half of 2026, the risk/reward calculus has shifted. The stock is down sharply, certification is inching closer, and Dubai operations are reportedly on track.
The 24/7 Wall St. Price Target for Joby Aviation Joby Aviation trades at $8.83, down 33.11% year to date. Our 24/7 Wall St. price target for Joby is $11.50 over the next 12 months, implying roughly 30% upside, modestly above the Wall Street consensus target of $11.12. Recommendation: Hold with constructive bias. Confidence: medium, given the binary nature of FAA certification and cash burn risk.
Metric Value Current Price $8.83 24/7 Wall St. Price Target $11.50 Upside 30% Recommendation HOLD Confidence Level 55% A Brutal Six Months, but a Real Earnings Beat Joby has fallen 23.08% over the past month and 11.7% in the past week, pressured partly by Russell rebalance flows. The 52-week range is $7.75 to $20.95, with the 200-day moving average at $12.39.
Q4 2025 results were strong: revenue of $30.84 million exceeded the $16.88 million consensus, and EPS of -$0.14 beat the -$0.20 estimate. A $1.2 billion equity and convertible raise in February pushed cash to $1.41 billion, extending runway materially.
Why Bulls See a Breakout Ahead The bull case is rich. CEO JoeBen Bevirt called 2026 “a key inflection point”, citing Dubai passenger service this year and the eIPP program. FAA Stage 4 certification advanced 18 points in Q4 alone. Joby logged 9,000+ flight miles in 2025 and has letters of intent worth over $1 billion across Saudi Arabia, Kazakhstan, and Japan.
The 700,000 sq ft Dayton, Ohio facility targets eventual capacity of 500 aircraft per year, supported by Toyota’s $500 million commitment. If FAA Type Certification arrives on time and Dubai launches cleanly, a bull scenario points to $15 to $18, near the 52-week high.
The Risks Worth Watching The bear case starts with insider activity. CEO Bevirt sold 322,019 shares on June 15 at $10.38, part of a broader pattern of executive disposals. Director Paul Sciarra sold 500,000 shares at roughly $12. Much of this trades through Rule 10b5-1 plans, and Sciarra still holds 56.1 million shares, so framing every sale as conviction loss overstates the case.
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H1 2026 cash usage is guided at $340 million to $370 million, gross margin sits at -30.1%, and Archer Aviation is a credible competitor. Bulls counter that the operating loss reflects $161.26 million in Q4 R&D spending ahead of certification. A bear scenario revisits the 52-week low near $7.75.
Hold for Now, but Watch Dubai My 24/7 Wall St. price target is $11.50 with a hold rating and 55% confidence. I would be a buyer if Joby announces a concrete FAA TIA flight schedule or confirms paying passenger flights in Dubai before year end.
I would stay on the sidelines if cash burn exceeds guidance or certification slips into 2027. The setup is high risk, high reward. The 30% upside requires execution on certification and Dubai.
Assuming certification by 2027, the Dayton ramp toward 4 aircraft per month, and progressive margin expansion as Blade revenue scales:
Year 24/7 Wall St. Price Target 2026 $11.50 2027 $14.00 2028 $17.50 2029 $21.00 2030 $25.00 Significant upside or downside could result from FAA timing, dilution from future raises, or Archer Aviation winning key contracts.
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To build up commercial production capability, advance manufacturing excellence, and prepare for scale-up of electric air taxi production
, /PRNewswire/ -- Joby Aviation, Inc. (NYSE: JOBY) and Toyota Motor Corporation today announced the initial phase of their strategic manufacturing alliance by establishing the Joint Venture to realize air mobility. This will combine Joby's pioneering work in electric aviation with Toyota's globally recognized expertise in production systems and operational excellence.
Joby Aviation and Toyota Motor Corporation Launch Initial Phase of a Strategic Manufacturing Alliance to Realize Air Mobility for All The Strategic Alliance will initially focus on establishing the groundwork for commercial production, and advancing manufacturing excellence, with particular emphasis on further improving productivity, quality, and cost. Going forward, it will also support the expansion of Joby's production capacity to support aircraft certification and meet anticipated growth in demand for its electric vertical take-off and landing (eVTOL) aircraft.
"Toyota has been by Joby's side for nearly a decade, providing invaluable guidance and support as we built the foundation for manufacturing our aircraft," said JoeBen Bevirt, founder and CEO of Joby Aviation. "Today's announcement reflects the strength of our relationship and our shared confidence in the opportunity ahead. Together, we share a vision of making aerial mobility an everyday reality, and we look forward to delivering on that promise together."
Akio Toyoda, Chairman of Toyota Motor Corporation, commented: "Since our founding, we've been guided by the philosophy of providing mobility for all. Over time, we've continued to expand what mobility can mean. We see air mobility as a natural extension of that philosophy—from the ground into the sky—and as a way to bring new value to people's lives and to society. It's really meaningful for us to take on this challenge together with Joby, a partner that shares the same vision. We believe this strengthened relationship is an important step forward in realizing the future mobility society."
Going forward, both companies will continue to work closely together through this Joint Venture, leveraging their respective strengths to bring air mobility to society on a broader scale.
About Joby Aviation
Joby Aviation, Inc. (NYSE:JOBY) is a California-based transportation company developing an all-electric, vertical take-off and landing air taxi. Joby intends to both operate its fast, quiet, and convenient air taxi service in cities around the world and sell its aircraft to other operators and partners. To learn more, visit www.jobyaviation.com.
About Toyota
Toyota (NYSE:TM) has been a part of the cultural fabric in North America for nearly 70 years, and is committed to advancing sustainable, next-generation mobility through our Toyota and Lexus brands, plus our more than 1,800 dealerships.
Toyota directly employs nearly 64,000 people in North America who have contributed to the design, engineering, and assembly of over 50 million cars and trucks at our 14 manufacturing plants. In 2025, Toyota's plant in North Carolina began to assemble automotive batteries for electrified vehicles.
For more information about Toyota, visit www.ToyotaNewsroom.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding the goals and expected benefits of the strategic manufacturing alliance. These statements are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied, including risks related to the ability of the parties to negotiate and execute the additional agreements related to the strategic manufacturing alliance on acceptable terms or at all, delays in regulatory certifications and timelines, changes in market conditions, and other risks described in Joby's filings with the Securities and Exchange Commission. The companies undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date hereof, except as required by applicable law.
MEDIA CONTACTS
Joby Aviation
Investors:
[email protected]
Media:
[email protected]
If you were in New York City between April 27 and May 1, 2026, and if you happened to be where the sky was in plain view, then you might have seen a bright spot hovering like a helicopter, but quietly like no helicopter can. That bright spot was an electric vertical takeoff and landing (eVTOL) aircraft, and the company behind this demonstration was Joby Aviation (JOBY 0.45%).
This flight -- the first of its kind in the Big Apple -- was a bright spot in another way: It showed, foremost, that Joby's aviation prowess is paying off, and that the next chapter of flight might come sooner than many people were expecting. It also gave Joby investors something new to hang their hats on, since commercialization of these electric air taxis is likely still a few years away.
Joby Aviation stock has been in the gutter this year, with shares down about 35% since January. Yet if the NYC demonstration was the first of a new kind of flight, a tenfold gain over the next decade could be coming. Here's how.
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What a mature Joby business could look like Joby is trying to build flying taxis. That wording is less figurative than you might think: The company's long-term vision is to build a platform -- likely an app -- through which you can call one of its eVTOLs to give you a ride through the air -- hopefully above gridlocked traffic, so you can feel good about the $50 or so spent on the lift.
To be sure, nobody knows how much an eVTOL ride could cost (an airport transfer in Manhattan on Blade Air Mobility, which Joby acquired, costs about $200 a seat). That's part of the uncomfortable uncertainty around Joby stock, along with the question of whether an "Uber of the skies" will really take off at all.
Image source: Joby Aviation.
But if demand is strong, the economics could work extremely well in Joby's favor. Analysts from Morgan Stanley put it like this: Assuming Joby's eVTOLs can complete a trip within 12 minutes or so, a single aircraft could finish as many as 40 trips in an eight-hour day. At a $50 fare per ride, that works out to $2,000 in revenue per shift. That's close to $730,000 in annual revenue, if it flew every day. If these aircraft completed more shifts and worked more hours, annual revenue could approach $1.5 million per aircraft, Morgan Stanley estimates.
If you can imagine a world in which thousands of these aircraft operate in hundreds of cities, then you can also picture the multibillion-dollar opportunity Joby is looking at. That, in a nutshell, is how Joby could grow tenfold from here, with a fleet of eVTOLs flying nonstop at a price that stays competitive with ground transportation.
Joby is a long way from that vision (its current target is to produce four eVTOLs a year). But the encouraging news for investors is that this vision of Joby dominance isn't far-fetched or unrealistic. It has important hurdles to clear first -- like FAA type certification -- but for investors with the patience to hold Joby long-term, the reward could be worth the wait.
Joby Aviation is upgraded to Speculative Buy, reflecting reduced cash burn, strengthened balance sheet, and tangible commercialization milestones. JOBY's cash position rose to $2.47B with quarterly burn declining, extending its operational runway even before core revenue generation. Consecutive revenue beats, primarily from Blade acquisition, de-risk JOBY as it advances toward U.S. eVTOL commercialization and international expansion.
Industrial might is back in vogue, and not just for space-industry stocks. A new form of transportation is soon to make its debut in cities around the globe: electric vertical takeoff and landing (eVTOL) vehicles. Joby Aviation (JOBY 3.04%) is one of the publicly traded companies that manufactures these innovative aircraft, and it believes that it can transform transportation across cities.
Its product is neither an airplane nor a helicopter, but something in between, and fully electric-powered. With its stock price currently at just $9 per share, could getting in early on eVTOL pioneer Joby Aviation help make you rich? Let's take a closer look and find out.
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The future of short-haul flights The idea for eVTOLs came from two sources: the plague of car traffic in most large cities, and noise pollution from helicopters, which prevents them from operating in many areas. An eVTOL can operate quietly compared to a helicopter, transporting small groups of passengers from point to point using "vertiports" across metro areas.
Joby's aircraft is currently in the middle of certification with the Federal Aviation Administration (FAA), which requires rigorous testing for all eVTOL start-ups due to the novel nature of the vehicles. Joby began testing in 2018 and is reportedly close to the finish line, aiming to secure full regulatory approval in both the United States and Dubai within the next 12 months.
The company currently generates just a sliver of revenue from its Blade business, which is a helicopter and private-flight rideshare network focused on New York City. In the future, Joby plans to operate its own eVTOL ride-sharing for customers. Instead of just selling commercial aircraft to operators like Boeing, Joby wants to keep its aircraft and sell tickets directly to users through its own vertiport network. It will do so with partners like Delta Air Lines, connecting people at the airport to the potential of eVTOL services, a prime customer use case.
Image source: Getty Images.
Manufacturing progress and cash burn To get ahead of anticipated FAA approval, Joby has begun increasing its manufacturing capacity. It is currently producing two eVTOLs a month, for a rate of 24 per year. In the near future, it wants to double this manufacturing pace, and eventually produce 500 vehicles per year. With hundreds of cities around the world that could utilize eVTOL taxi networks, there is theoretical demand for this level of output from Joby and other eVTOL manufacturers racing for FAA approval.
Up-front spending will be massive. Joby needs to build aircraft and secure leases for vertiports before selling tickets to customers, which is why free cash flow has worsened over the past few years, hitting a record burn of $660 million over the last 12 months. At the end of the first quarter, the company had $2.5 billion in cash and equivalents, which gives it a few years of breathing room, but it's still not on a firm financial footing.
JOBY Revenue (TTM) data by YCharts.
Can Joby stock deliver life-changing returns? Joby Aviation is a high-risk stock. Let's say the company can eventually manufacture hundreds of aircraft a year, operate many air taxi networks in cities across the United States and globally, and improve traffic levels. If so, it's likely to get hundreds of millions (if not billions) of dollars in annual ticket revenue from customers who will pay a pretty penny to fly over traffic to places like the nearest airport.
The problem is that, despite a low per-share price of $9, Joby Aviation's market value is still quite high for a company that is close to a pre-revenue start-up. It currently has a market cap of $9.2 billion, pricing in a lot of this theoretical success before any FAA approval has been made. That should make you think twice about whether the stock can deliver life-changing returns for your portfolio.
Joby Aviation (NYSE:JOBY | JOBY Price Prediction) is graduating from a flight-test story to a revenue story. The Blade acquisition pushed Q4 2025 revenue to $30.84 million, management is guiding $105 million to $115 million for full-year 2026, and a JFK-to-Manhattan eVTOL flight put the brand in front of every commuter in the country.
Yet shares sit at $10, down 24.24% year to date. Can JOBY trade at $20 by 2028?
What’s Holding Joby Back Shares are stuck because of what investors are paying for unprofitable growth. Joby trades at a price-to-sales ratio of 122x with a beta of 2.67, punished whenever rate expectations shift. Shares are flat over the last month at 0%, with a recent 20% drop in June tied to a strong jobs report and renewed Fed tightening concerns.
Insider selling has weighed on sentiment. Director Paul Sciarra sold 416,666 shares at $12.02, and CFO Rodrigo Brumana followed with a $897,000 sale via a 10b5-1 plan. Both were pre-scheduled, but the optics hurt a stock already 47% below its 52-week high.
Wall Street Sees 11% Upside. Our Model Says 16%. Consensus target is $11.12, with 1 strong buy, 2 buys, 5 holds, 2 sells, and 1 strong sell. Our base-case model lands at $11.62 for a 16.2% upside, with a moderate 0.5 confidence score mirroring the analyst split of 27% bullish, 27% bearish, 45% neutral.
Consensus is too anchored on Joby being pre-revenue. The bull case points to $15.05 within twelve months and $25.75 over five years. Wall Street has not repriced for FAA certification, and that is the asymmetry worth watching.
The Path to $20 Per Share Reaching $20 from $10 requires a gain of 100%. With forward EPS of -$1.20, a price of $20 implies a forward P/E of -17x. The negative figure shows why our model excludes EPS and leans on analyst target weighting and the 247Factor of 1.045. For JOBY, price-to-sales is where the bull case has room.
If Joby hits a credible 2028 revenue ramp toward the $458 million projection being modeled post-FAA approval, the current 122x sales multiple compresses sharply at $20.
Three catalysts are in motion: the first point-to-point electric air taxi flight from JFK to Manhattan, selection for commercial operations in 11 states, and a Dubai launch with vertiports at the airport, Palm Jumeirah, and Dubai Mall.
CEO JoeBen Bevirt told investors, “2026 will mark a key inflection point for Joby”, and ARK Invest backed that view with a 119,000-share purchase after the FAA milestone. The primary risk is simple: any FAA Type Certification slip beyond 2026 resets the bull thesis.
Is $20 Realistic? Joby has no earnings power yet, which is the entire problem and opportunity. The stock sits at $10, against a 52-week range of $7.75 to $20.95, and a 50-day moving average of $9.79. Five-year total return is essentially flat at 0.4%.
The market has paid Joby for the option rather than the operating business. If Dubai service launches and the Dayton plant ramps to 4 aircraft per month in 2027, the option converts into cash flow.
Hitting $20 by 2028 requires a 100% gain, and on a beta of 2.67 that is achievable.
Three things must go right: FAA Type Certification by 2026, passenger revenue from Dubai and U.S. eIPP sites in 2027, and Dayton production hitting 4 aircraft per month on schedule. A certification delay forcing another dilutive capital raise derails it.
I view $20 as a stretch target with real catalysts behind it. Returns at this level shouldn’t be expected every year, but the blueprint for Joby reaching $20 in 2028 is clear.
Despite making headway on its regulatory path, Joby Aviation (JOBY 3.04%) has spent much of 2026 flying into strong headwinds. Indeed, shares of the electric vertical takeoff and landing (eVTOL) stock have fallen about 30% on the year and trade far below their 52-week high of about $21.
What gives? Wall Street's patience, I suppose. Joby has not fundamentally changed in the last year. In fact, its prospects have only gotten better: The company has never been closer to achieving FAA certification, and it just successfully piloted an eVTOL in and around New York City.
If Joby stays on its current path, this 30% dip could, in retrospect, represent an attractive buying window. Let's take a look.
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Joby is the front-runner of the nascent eVTOL industry Imagine a large drone you and a few friends can ride in; it takes off straight up from the ground, flies across the city over traffic and congested streets, then lands near an airport or your office. That, in a nutshell, is the kind of air taxi service Joby Aviation is trying to create.
And it's not alone. Early on, Toyota became its manufacturing mentor and an early investor. Joby has also partnered with Delta Air Lines and Uber, and it made a strategic acquisition of Blade Air Mobility.
Image source: Joby Aviation.
Each of these partnerships can accelerate the rate at which it brings its air taxis to the market. So can the eIPP (eVTOL Integration Pilot Program), a White House-backed initiative to begin testing eVTOL operations in select cities ahead of FAA type certification. The program, slated to begin in the second half of this year, gives Joby a chance to build experience before commercialization begins.
Joby is currently in Stage 4 of the FAA's five-stage type certification process, and it began for-credit flight testing in March 2026. At this point, the FAA is scrutinizing Joby's aircraft to determine whether it meets requirements, rather than just reviewing a design on paper.
Nobody knows when this process will finish -- it could drag on for months -- but if this were a race among eVTOL companies, Joby would be in the lead. The closest competitor, Archer Aviation, recently began its own for-credit flight testing. Both companies are expected to start generating more substantial revenue within the next two years, as shown in the chart.
Data by YCharts
In 2021, Morgan Stanley published a report on eVTOLs and urban air mobility. In that report, it predicted, in the most bullish scenario, that the industry would grow to $1 trillion by 2040 and $9 trillion by 2050. As the researchers put it, "Our key message to investors: Temper your excitement with patience. The market opportunity for eVTOL/UAM could be far bigger than you think, but we believe it may require decades to reach high-volume commercialization.
Those interested in Joby today should approach the stock with the long-term perspective of decades, not years. For investors willing to wait that long, today's share price may ultimately matter far less than whether Joby turns a radical idea into a new mode of transportation.
Joby Aviation (JOBY +5.79%), an electric air-taxi (eVOTLs) developer, closed Monday at $9.69, up 5.85%. The stock is reacting to a recent Jefferies consumer survey on eVOTLs. Investors are watching how quickly eVOTLs will be adopted by the public -- and just how much they’re willing to pay per trip. Trading volume reached 50.8 million shares, about 82% above its three-month average of 27.9 million shares. Joby Aviation IPO'd in 2020 and has fallen 8% since going public.
How the markets moved todayThe S&P 500 rose 1.67% to 7,555, while the Nasdaq Composite gained 3.07% to finish at 26,684. Within airports & air services names, Archer Aviation closed at $5.55, up 9.25%, and Eve finished at $2.93, adding 8.12% as eVTOL interest stayed elevated.
What this means for investorsFindings from a Jefferies consumer survey on eVOTLs emerged today, showing that 50% of the public know what eVOTLs are and that a surprising 79% of respondents expressed some degree of interest in trying the new “flying taxis.” Only 21% of respondents were not interested in the prospect of riding in one.
The survey also showed that riders were willing to pay roughly $91 for a 15-minute flight to save 45 minutes on a trip. An analyst with Jefferies explained that this was similar to upscale rideshare pricing, but delivered improved time savings, which likely prompted today’s share price move higher.
While this seems like promising data for Joby, the company is still in the early innings of scaling its manufacturing, network, and operations, so interested investors need to be braced for volatility and be willing to hold for at least five to ten years.
Josh Kohn-Lindquist has positions in Joby Aviation. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Joby Aviation (JOBY 2.24%), a producer of electric vertical takeoff and landing (eVTOL) aircraft, went public through a merger with a special purpose acquisition company (SPAC) on Aug. 11, 2021. Its stock opened at $10.62 per share, set a record high of $20.39 on Aug. 4, 2025, but now trades at about $9. It initially impressed investors with its progress toward commercial eVTOL flights, but its luster faded amid delays and regulatory challenges. Elevated interest rates, geopolitical conflicts, and other macro headwinds exacerbated that pressure.
With a market cap of $9.2 billion, Joby still looks expensive at 83 times this year's sales. However, I believe one catalyst could drive its stock much higher over the next five years.
Image source: Getty Images.
Joby has plenty of irons in the fire Joby's S4 eVTOL can carry a single pilot and four passengers, travel up to 150 miles on a single charge, and reach a maximum speed of 200 miles per hour. The S4 can travel faster and farther than its closest competitor, Archer Aviation's (ACHR 4.06%) Midnight eVTOL, because it uses tilt-rotor propellers that alternate between lifting and cruising modes. The Midnight is heavier because it uses separate propellers for lifting and cruising.
Joby has completed test flights in the U.A.E., South Korea, and Japan. It's already backed by big investors and customers, including Toyota (TM +0.00%), Delta Air Lines (DAL +1.50%), and Uber (UBER 1.01%). Toyota will help Joby mass-produce its eVTOLs, Delta will use the S4 as a "last mile" airport-to-home air taxi service, and Uber will integrate those flights into its app. It also holds a $131 million contract with the U.S. Department of Defense.
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What's the big catalyst that will drive its stock higher? Joby has plenty of irons in the fire, but it can't ignite them with the government's approval. Joby expects the Federal Aviation Administration (FAA) to fully approve its first commercial flights in the U.S. in late 2026. It also plans to launch its first air taxi flights in Dubai this year, even though the Middle East conflict might disrupt and delay those plans.
If the FAA finally clears Joby's S4 for commercial flights, its revenue could skyrocket over the next few years as its eVTOLs replace traditional helicopters. That's why analysts expect its revenue to surge from $53 million in 2025 to $458 million in 2028.
But that could just be the beginning. According to Eve Air Mobility's recent Global Market Outlook, there could be 30,000 eVTOLs in the air carrying three billion passengers globally by 2045. So even though Joby's stock looks expensive today, it could still soar a lot higher. Assuming it matches analysts' expectations through 2028, grows its revenue at a 30% CAGR through 2031, and trades at 30 times its current year's sales by the final year, its stock could more than triple over the next five years.
Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Uber Technologies. The Motley Fool recommends Delta Air Lines. The Motley Fool has a disclosure policy.
Consider, for a moment, what life was like in the early 2000s, before Uber (UBER +1.33%) and other ride-hailing apps were available. In that app-less world, getting a ride that wasn't your friend, family member, or spouse meant hailing a taxi from a curb (or calling in advance), taking public transit, or navigating on your own feet. It wasn't frictionless, nor always cheap, and because many cities regulate the number of taxis on the road, you could have been stuck waiting an hour during peak times.
When Uber came on the scene, people were primed for something new. The same argument, in a different context, can be made for Joby Aviation (JOBY +6.09%).
Joby wants to solve a commuter's thorniest problem: traffic. And it wants to do it with a flying taxi, or what's called an electric vertical takeoff and landing (eVTOL) craft.
If Joby succeeds, it could control a hefty portion of an urban mobility market estimated to be worth $9 trillion by 2050. With Joby stock down about 30% in 2026, is now the right time to buy this potential Uber of the skies before it takes off?
Closer to takeoff, not yet close enough to coast Imagine a big drone that you and a few of your friends can sit in, that takes off from the ground and flies over gridlocked traffic and congested streets. That's the world Joby wants you to live in, a world in which air travel becomes a fast route between airports and cities.
To get there, Joby Aviation needs a commercial license to put paying passengers in the air. In that regard, it is making progress. In March, it began flight testing its first FAA-conforming aircraft, and it expects pilots to start "for credit" testing later in 2026. Both are important steps on the path to type certification, a certification Joby needs to put paying passengers in the air.
Joby is also part of a White House program aimed at accelerating commercial operations for eVTOL makers. Most significantly, the program, of which rival Archer Aviation (ACHR +5.05%) is also a part, could help Joby kick-start early operations in U.S. cities later in 2026.
Even though Joby isn't flying passengers in its eVTOLs, it is operating a helicopter service through its acquisition of Blade Air Mobility. These helicopters travel on routes that Joby would love to populate with air taxis -- such as the route between Manhattan and JFK airport -- which gives it experience (and data) before putting eVTOLs in the sky.
Image source: Joby Aviation.
Joby's current share price of about $9 to $10 may seem cheap, but there's more than meets the eye. The company carries a $9 billion market cap, which is uncomfortably high for a start-up that barely has any revenue to its name. Revenue is expected to grow over the next two years, but not enough to justify its current valuation.
Data by YCharts
As such, even at its current share price, Joby is still a speculative play on an industry that doesn't exist yet. Most investors will probably want to hold off until the company at least gets regulatory approval to commercialize its air taxis.
Joby Aviation (JOBY +6.09%) is an aviation start-up pursuing a dream that every urban commuter shares: a flying taxi that can coast quietly, smoothly, and carbon-freely above grid-locked traffic, over waterways, and back and forth between urban hubs and airports.
It's the dream of an electric vertical takeoff and landing (eVTOL) aircraft -- and despite advancements in technology and regulatory wins, it's still very much a dream right now.
The idea itself isn't all that novel. Indeed, Blade Air Mobility (which Joby acquired in August 2025) currently runs a helicopter route between Manhattan and JFK Airport. It costs $195 a seat and, in language resembling Joby's, can get you there in five minutes.
Blade, however, never owned its own helicopters, whereas Joby aims to control the entire production process, from manufacturing its own eVTOL parts to managing bookings on its platform. And whereas helicopters are loud and dirty, Joby's eVTOLs are quiet and all-electric; one day, a ride in one could cost as much as ground transportation, according to Joby's CEO.
Of all the eVTOL companies clamoring for the spotlight on their flying taxis, Joby has the best chance of tripling your investment at today's price (about $10). Here's one big reason why.
Joby has already inherited a portion of the potential eVTOL market I think the Blade Air Mobility acquisition will become one of Joby's best early moves, at least before the launch of its eVTOL craft.
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That's not because the $125 million acquisition has given Joby Aviation a small, albeit much-needed, stream of revenue, accounting for a large part of its almost nonexistent first-quarter sales of $24 million. The Blade acquisition had little to do with making money (Blade barely eked out profits) and everything to do with the platform that Joby wants to build before it puts an eVTOL on the market.
That's clutch because, for Joby to win the eVTOL race, it needs not just aircraft -- or rather regulatory approval for an aircraft -- but a new consumer habit built around it. It needs to make flying to the airport feel normal, quotidian even, especially when time is of the essence -- or at least worth more than $200.
Behind the scenes, it also gives Joby time to compile data. It can start figuring out, say, the times or seasons that people prefer flight over public transit, how much they're willing to pay, and their experience after the flight is over.
Couple this with Joby's recent partnership with Uber, and the eVTOL maker has a real shot at becoming the preferred eVTOL service when air taxis hit the market.
Of course, none of this erases the risks: Joby has to get through the regulatory process, build out vertiports and other infrastructure, and put paying passengers in the air -- all before its cash and equivalents (about $2.5 billion) run out.
Still, if you're bullish on the nascent eVTOL market, which Morgan Stanley once valued at $9 trillion in 2021, Joby offers one of the best opportunities to triple your investment. Execution risks abound, but a small position at today's price could pay off over a long period.
Joby Aviation (JOBY) climbed about 2% in early Wednesday trading after a New York City demo flight helped keep investors focused on the company's electric air-t
Over the past few years, many investors flocked toward artificial intelligence (AI) and AI-adjacent stocks. However, that buying frenzy drove the S&P 500 to its all-time highs -- so the market might be due for a near-term pullback from its historically high valuations.
To insulate themselves from that inevitable downturn, investors should diversify their portfolios into other less overbought sectors. One such sector is the transportation industry, which will continue to grow as long as companies need to transport people or products.
Image source: Joby Aviation.
Let's take a closer look at two promising transportation stocks that are worth buying this year: Joby Aviation (JOBY +6.09%) and Canadian National Railway (CNI 0.76%). The former is a good fit for speculative investors, while the latter is a dependable blue chip play.
The speculative play: Joby Aviation Joby Aviation develops electric vertical take-off and landing (eVTOL) aircraft. Its S4 eVTOL can carry one pilot and four passengers, travel up to 150 miles on a single charge, and reach a maximum speed of 200 miles per hour. Unlike many of its competitors, which use separate propellers for takeoff and cruising, the S4 uses a single propeller for both modes -- reducing its weight and enabling it to travel faster and farther.
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Joby is still awaiting the FAA's approval to launch its first commercial flights, but it's already backed by major companies such as Toyota, Delta Air Lines, and Uber. Toyota provides Joby with the engineering and manufacturing support to scale its business. Delta will bundle Joby's short-range flights into its premium tickets for "home to airport" services, and Uber will integrate those flights into its new Uber Air platform. It's also producing autonomous eVTOLs for the Department of Defense.
Once Joby's first commercial flights take off, analysts expect its revenue to soar from $53 million in 2025 to $458 million in 2028. According to Fortune Business Insights, the global eVTOL market could grow at a 36.8% CAGR from 2026 to 2034 as those electric aircraft replace conventional helicopters for short-range flights.
Joby is still unprofitable, and its stock isn't cheap at 25 times its 2028 sales. But if it successfully ramps up its production over the next few years, it could become one of the market's hottest next-gen transportation stocks.
The conservative play: Canadian National Railway Canadian National Railway operates approximately 20,000 miles of railroad across the U.S. and Canada, and connects the Pacific, Atlantic, and Gulf of Mexico coasts. That T-shaped network supports seamless cross-border shipping without transfers to other carriers. It's diversified across a wide range of sectors -- including bulk commodities, shipping containers, industrial and energy products, and automotive products -- so it isn't dependent on a single industry.
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That scale and diversification make it one of the market's most reliable transportation stocks. From 2025 to 2028, analysts expect its EPS to grow at an 8% CAGR. It still looks reasonably valued at 21 times this year's earnings, and it pays a forward dividend yield of 2.3%.
Canadian National Railway faces three near-term challenges: the unresolved tariff negotiations between the U.S. and Canada, which could impact cross-border trade; higher oil prices and catch-up costs from a previous labor dispute, which are driving up its operating costs; and the proposed merger between Union Pacific and Norfolk Southern, which would create a major competitor and America's first true transcontinental railroad.
Nevertheless, Canada's ongoing exports of oil products, grain, and fertilizer should offset a lot of that near-term pressure. Its recent completion of a major investment cycle (to expand its Chicago EJ&E bypass) should also reduce some of the pressure on its margins and earnings. So if you're looking for a conservative, dividend-paying logistics play that will bounce back from the next market crash, Canadian National Railway checks all the right boxes.
Last year, stocks with exposure to the electric vertical takeoff and landing (eVTOL) industry were too hot to touch. Leading names such as Joby Aviation (JOBY +6.09%) soared to all-time highs. However, seen then, enthusiasm about eVTOL stocks has experienced a crash landing.
Recently, though, Joby has started climbing again. This could mark the start of a further rally this year. Moreover, in the long term, Joby could even have the potential to be a ten-bagger.
Image source: Getty Images.
Joby Aviation continues to operate at full thrust After climbing to prices nearing $21 per share last fall, Joby Aviation shares fell by nearly two-thirds during late 2025 and early 2026. However, thanks to a well-received quarterly earnings report, Joby has been bouncing back. High losses persisted during Q1, but Joby beat on revenue, with $24 million in sales beating forecasts of just $20 million.
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Management also reiterated 2026 guidance and plans to commence its first commercial launch this year. Although it's unclear whether this positive news can propel Joby forward in the immediate term, the company's near- and long-term forecasts suggest it could meet them.
Shares could surge tenfold by 2040 On the regulatory front, Joby Aviation is leading the pack, having already reached the Type Inspection Authorization stage. The company is also participating in the White House's Integration Pilot Program, further fast-tracking Joby's U.S. commercial passenger service launch this year. Given how much shares have soared on recent news, it's not far-fetched to see the U.S. launch, plus Joby's anticipated launch of its Dubai air taxi service, drive the stock toward the high end of sell-side price targets, $18 per share.
However, in time, shares could climb to even loftier altitudes. According to Morgan Stanley's white paper on the air mobility industry, the total addressable market for eVTOLs could reach $1.5 trillion in 2040. Even if Joby captures a small share of the overall market, this could propel its market cap from $11.3 billion to over $100 billion, nearly 10 times its current stock price.
Thomas Niel has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
When asked about QXO Inc (NYSE:QXO), he said, “We have a new Fed chief and I think interest rates have peaked." He recommended buying the stock.
He said he doesn't have expertise on EchoStar Corp (NASDAQ:SATS)
Cramer added that MNTN Inc (NYSE:MNTN) represented "valuable property," but that he had been "dead wrong on it."
He said Sellas Life Sciences Group Inc's (NASDAQ:SLS) stock had risen sharply. "It's a great spec and even though it is up…I'm going to say two thumbs up."
Cramer pointed out that Nokia (NYSE:NOK) is investing in AI and that's what people are "going crazy" about. The company has the 6G AI. "People who are very smart tell me to buy it."
Cramer said that GE Aerospace (NYSE:GE) CEO Lawrence (Larry) Culp had done "a remarkable job." He recommended to buy the stock.
Price Action:
QXO shares were up 1.61% at $17.68. EchoStar's shares rallied over 7% to settle at $131.07 on Thursday. MNTN's stock has trading higher by 1.32% at $8.97 on Thursday. Shares of Sellas Life Sciences had risen almost 7% during the session. Strategy shares were down 1.66% at $151.64. GE Aerospace shares rose by 1.14% to close at $320.82 on Thursday. Market News and Data brought to you by Benzinga APIs
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Everyone is still looking at Tesla (NASDAQ:TSLA | TSLA Price Prediction), because the robotaxi is always six months away and Optimus is always one demo away from changing the world. But the more interesting flight path is happening elsewhere. While Tesla bulls keep paying 405 times earnings for promises pushed into 2026 and beyond, an actual eVTOL aircraft just ferried paying-curious passengers between JFK and Manhattan, and the FAA quietly opened the door to 9 more states.
The company doing the flying is Joby Aviation (NYSE:JOBY), and the contrarian case writes itself. Tesla’s market cap sits at $1.66 trillion on automotive revenue that fell 11% in the most recent full quarter and full-year net income that dropped 46.79%. Joby’s market cap is $12 billion.
It’s obviously very early stage, but what has been happening is very promising and the stock has surged 55% off its lows. White House support is proving to be pivotal in getting approved in new states.
Why The Self-Driving Story Lost The Plot Tesla’s Q1 2026 revenue grew 15.8%, barely beating estimates, with EPS of $0.41. Operating expenses, meanwhile, surged 37-50% year over year on AI and R&D spending that has yet to produce a deployed Cybercab, a saleable Optimus, or unsupervised FSD.
Net profit margin is 4.0%. Return on equity is 4.9%. You are paying a price-to-free-cash-flow ratio of 265.9 for a car company whose own insiders are net sellers and whose Optimus release probability by year end sits at 13.5%. The trade is crowded, the multiple is absurd, and the catalysts keep sliding right.
What Actually Happened Over New York Joby just completed the first point-to-point eVTOL demonstration flights in New York City, connecting JFK to Manhattan heliports in under 10 minutes. That is a flying aircraft with a charging partnership at East 34th Street Heliport.
Through the Blade acquisition, the company is already operating passenger routes in New York and Southern Europe, with first paying passengers in Dubai expected in 2026 under an exclusive 6-year air taxi rights agreement. Management reaffirmed 2026 revenue guidance of $105 to $115 million. Q1 revenue came in at $24 million against a net loss of $110 million.
The FAA Decision That Unlocks 13 States The FAA’s eVTOL Integration Pilot Program covers 26 states in total, with Joby approved to fly in 10 states.
Joby logged a record 18-point FAA progress increase in Stage 4 Type Certification in Q4 2025, with FAA pilots expected to fly “for credit” test flights this year. CEO JoeBen Bevirt called it bluntly: “2026 will mark a key inflection point for Joby… we’ve begun to shift our focus from how and when we’ll go to market, to how many aircraft we can produce and where to deploy them.”
Toyota wrote a $500 million check. Cathie Wood added 119,000 shares. The balance sheet holds $2.5 billion in cash.
The Catch: 141x Sales And Real Losses Yes, the price-to-sales ratio sits above 141x. Yes, the company is deeply pre-revenue, EBITDA is negative $747 million. Reddit sentiment scored 35 (bearish) across most of last week. This is venture risk dressed up as a public stock.
But the asymmetry is the point. Tesla needs to grow into 405 times earnings. Joby needs to grow into $12 billion, with a Type Certificate, a Dubai monopoly, and a federal program already in motion.
Joby is worth tracking before the FAA certificate and Dubai’s first paying passenger turn into the next round of headlines.
Aviation start-ups and the Trump administration want to replace helicopters with electric aircraft, but the new vehicles still have to pass arduous tests before the public can use them.
Joby Aviation (NYSE:JOBY | JOBY Price Prediction) is finally turning into a revenue story. Q4 2025 brought $30.84 million in quarterly sales (up 55,965% year over year) thanks to the Blade passenger acquisition, and management guided 2026 revenue to $105 million to $115 million.
Yet shares closed at $11.90 on May 29, down 9.85% YTD. Can JOBY hit $20 in 2027?
Why JOBY Shares Are Stuck Despite Real Commercial Progress The disconnect is real. JOBY rallied to a 52-week high of $20.95 before unwinding to a low of $7.33. The stock is up 36.78% in the past month and 8.97% in the past week, but still in the red year to date.
Three factors are pinning the stock down:
Cash burn: Operating cash flow ran -$509.89 million in FY2025, forcing the $1.2 billion February capital raise that diluted shareholders. Insider selling: CEO Joeben Bevirt disposed of 322,019 shares at $10.38 on May 15 alone. Beta of 2.61: JOBY moves 2.6x harder than the market in both directions. Wall Street Sees Downside. Our Model Sees Range. Wall Street is unusually split. The consensus target is $11.12, slightly below today’s price. The 11 analysts covering JOBY break down to 1 Strong Buy, 2 Buy, 5 Hold, 2 Sell, and 1 Strong Sell. Bullish and bearish percentages are dead even at 27%.
Our model lands at $11.53 base case (a -3.1% return) with medium confidence. The bull scenario stretches to $14.98, a 25.92% gain. Every analyst on this stock is modeling a pre-certification company. The minute FAA Type Certification flips to “granted,” the entire valuation framework changes overnight.
The Path to $20 Per Share Reaching $20 from today’s price of $11.90 would require a gain of 68.1%. With forward EPS of -$1.20, a price of $20 implies a forward P/E of -17x, versus today’s -10x. Negative earnings make P/E useless, so the real story is price-to-sales.
JOBY trades at a TTM P/S of 150.7. Against 2026 revenue guidance of $110 million midpoint, $20 implies roughly a 179x sales multiple, expensive but not unprecedented for a pre-revenue aerospace platform with certification visibility.
What gets us there: FAA “for credit” test flights in 2026, first paying passengers in Dubai, and execution on the Toyota, ANA, and Abdul Latif Jameel orders worth over $1 billion in disclosed sales.
CEO Bevirt put it bluntly: “2026 will mark a key inflection point for Joby… we’ve begun to shift our focus from how and when we’ll go to market, to how many aircraft we can produce and where to deploy them.” Primary risk: any FAA certification slip past 2027 collapses the thesis.
The Valuation Case for Joby Right Now JOBY trades at a TTM P/S of 150.7 with profit margins deeply negative (EPS of -$1.14). The 50-day moving average sits at $9.47, well below the 200-day at $12.85, showing recent technical weakness.
Shares are 47% below the 52-week high. Over five years, JOBY has returned 19.6%, badly trailing the market. The valuation case requires faith that 2026 revenue lands in the guided range and that the Dubai launch creates a repeatable template.
Is $20 Realistic? Hitting $20 needs a 68.1% gain from here. It is a stretch, though achievable under the right conditions.
Three things must happen: FAA “for credit” test flights complete on schedule, Dubai carries first paying passengers without operational hiccups, and 2026 revenue hits the high end of the $105 million to $115 million range. What derails it: a certification delay into 2028 or another dilutive capital raise. We’ve outlined the blueprint for how Joby Aviation could reach $20 in 2027.
SpaceX is taking its IPO show on the road Thursday, with Reuters reporting the Elon Musk-led space company has set its sights on a valuation as high as $1.75 trillion when factoring in the greenshoe option, a figure that would cement this as the most valuable public market debut ever recorded. The deal’s structure is being set up as an all-primary offering, with the minimum raise pegged at $75 billion, meaning fresh capital flows straight to the company rather than lining the pockets of insiders looking for an exit.
Musk and SpaceX’s earliest backers are not selling a single share. If investor appetite runs strong enough to trigger the greenshoe, underwriters can put additional shares into the market beyond the base deal, though if demand disappoints, the final valuation could come in below the headline number. Expect pricing to follow within one to two weeks of the roadshow concluding
Jun 2, 2026 at 11:21 AM EDT
The BLS reported April job openings at 7.6 million, a gain of 731,000 from the prior month and the strongest reading since May 2024, pointing to an employer base that is still actively seeking workers. What complicated the picture was the hiring side of the ledger: companies brought on 5.12 million workers during April, a pullback of 419,000 from March.
The markets have turned higher across the board, including a 0.28% gain in the Nasdaq Composite.
Jun 2, 2026 at 10:07 AM EDT
Cleveland Fed President Beth Hammack added a hawkish note to Tuesday’s tape, suggesting that current monetary policy may not be restrictive enough to bring inflation back down to the Fed’s 2% target. Speaking at the City Club of Cleveland, Hammack warned that waiting for proof that inflation has become entrenched in the economy could force the central bank into larger and more costly adjustments down the road.
This article will be updated throughout the day, so check back often for more daily updates.
The Nasdaq Composite slipped 0.3% Tuesday as a rally that had driven stocks to a series of all-time highs took a pause, with traders pulling back to weigh the competing forces of AI-fueled euphoria and a Middle East ceasefire that remains anything but settled. The session had no shortage of catalysts pulling in opposite directions, from a landmark Alphabet stock offering that rattled sentiment to an Nvidia-led tech advance that kept the losses from getting out of hand.
Alphabet (NASDAQ:GOOGL | GOOGL Price Prediction) was the session’s biggest drag, falling more than 4% after the company announced plans to raise $80 billion through stock sales to fund its AI buildout, including a $10 billion investment from Berkshire Hathaway. The market’s reaction was pointed, and Vital Knowledge’s Adam Crisafulli captured the sentiment, reportedly saying, “If the greatest business model in the history of capitalism can’t fund AI from its own internal operations, then who possibly can?”
Nvidia (NASDAQ:NVDA) helped keep the damage contained, climbing 1% and providing a partial offset to Alphabet’s slide. Hewlett Packard Enterprise (NYSE:HPE) was the session’s standout, surging 23% after issuing a stronger-than-expected outlook for the current quarter and raising its full-year guidance well above Street estimates. The print marked HPE’s biggest earnings beat since 2018, a result that injected a dose of optimism into the enterprise tech trade at a time when the broader tape needed it.
Here’s a look at where things stand as of morning trading:
Dow Jones Industrial Average: 50,921 Down 0.31%
Nasdaq Composite: 27,088 Flat
S&P 500: 7,591 Down 0.08%
Market Movers Marvell Technology (NASDAQ:MRVL) is surging more than 20% in premarket trading Tuesday after Nvidia (Nasdaq: NVDA) CEO Jensen Huang put the chipmaker in rare company during his Computex keynote, declaring Marvell will be the next trillion-dollar company. MRVL stock is soaring by 23.7% today.
Joby Aviation (NYSE:JOBY) is expanding its California footprint, acquiring a 47,500 square-foot facility near Hollister Municipal Airport in San Benito County, adding to existing operations in Santa Cruz, Marina, and San Carlos. The new site is designed to accelerate Joby’s flight testing program as the company pushes through the final phase of FAA Type Certification for its electric air taxi,
South Korean semiconductor company SK Hynix is planning to double its memory chip production capacity over the next five years, according to Bloomberg, a move aimed at addressing a global memory shortage that has been tightening supply and driving prices higher across the sector.
One of the most enticing things about investing in growth stocks is that while there may be risk with investing in them early on, their upside can also be tremendous down the road. And it's not always obvious which ones will be the big winners, which is why investing a small amount in promising stocks can be a good move, provided that you're OK with the risk and uncertainty that comes with doing so.
The stocks listed here aren't investments that would be suitable for low-risk investors or individuals who aren't willing or can't afford to remain invested for the long haul. But if you're willing to take on some risk and hold on for several years, there are three stocks you may want to consider investing in today: Joby Aviation (JOBY +6.09%), Curaleaf Holdings (CURLF +0.39%), and Pony AI (PONY +1.47%).
Image source: Getty Images.
Joby Aviation At around $12 billion in market cap, Joby is the most valuable stock on this list. The electric vertical take-off and landing (eVTOL) company hopes to be raking in money from air taxi operations in the future. It's a long-term play that's full of uncertainty. How things shape up is still a big unknown. Its aircraft isn't approved in the U.S. yet, and its commercial operations haven't begun, but that could change potentially as early as this year.
It could be a while before Joby generates meaningful revenue from its core operations and even longer before it turns a profit. But with the company already doing demonstration flights in New York and San Francisco, it is showing that it's an early leader in this space.
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The company incurred a loss totaling $930 million last year, and things could get worse before they get better as it scales its operations. However, the eVTOL stock has loads of potential in the long run, which is why it might be a compelling option for long-term investors.
Curaleaf Holdings Cannabis producer Curaleaf Holdings is the safest-looking stock on this list, as it has consistently generated an operating profit over the years. In 2025, its operating income totaled $25 million on revenue totaling just under $1.3 billion.
The company has been navigating a challenging cannabis market where products are illegal federally but permissible within certain states. Now, however, with the U.S. government rescheduling some medical marijuana products, there's growing optimism that greater reform (i.e., legalization) may be on the horizon.
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I wouldn't hold my breath, however, as investors have been burned in the past on the hopes that marijuana might soon become legal, only for nothing to end up taking place. That's precisely why buying shares of Curaleaf, while its valuation is low -- it has a market cap of just under $3 billion -- could be a good move. It's a bit less riskier than the other stocks on this list, and yet, its upside could be massive. You will, however, need to be incredibly patient.
Pony AI Rounding out this list is a robotaxi stock that is in the early innings of its growth, and that's Pony AI. The company is based in China, but it has been growing its business in other parts of the world, including Croatia, where it has helped launch Europe's first robotaxi service. It's a huge milestone for a company whose market cap is just under $5 billion.
Pony AI makes the software and hardware necessary to transform a vehicle into a robotaxi, and it generates revenue from both robotaxi and robotrucks, while also licensing its technology for other applications.
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The company generated some strong growth during the first quarter of this year, with revenue of $34.3 million rising 145% year over year. The risk, however, is that its operations remain deeply unprofitable; Pony AI has incurred an operating loss of $58.3 million over the past three months. It's a risky stock to own given its financials, but its growth is compelling, and it could make for an attractive acquisition target in the future. If it continues to scale its robotaxi operations, the growth stock could have plenty of room to rise higher.
Ark Invest, led by Cathie Wood, targets high-growth, disruptive, innovative, early-stage companies, including developers of electric vertical takeoff and landing (eVTOL) aircraft, which have the potential to upend urban transportation as we know it.
In May, Ark Invest purchased 119,000 shares of Joby Aviation (JOBY +6.09%). The move comes as Joby made its first successful test flight across New York, proving its eVTOL technology. Should investors follow Wood's lead?
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Ark Invest owns 6.3 million shares of Joby Aviation across its ETFs While most institutional investors reveal their positions when they file quarterly 13-F filings with the Securities and Exchange Commission (SEC), Ark Invest provides full transparency into its daily trades, giving investors insight into its investments.
On May 18, Ark Invest purchased shares of Joby Aviation, which was split among the ARK Autonomous Technology & Robotics ETF (ARKQ +4.74%) and the ARK Space & Defense Innovation ETF (ARKX +5.46%). Following the purchase, Ark Invest now owns nearly 6.3 million shares of Joby Aviation across these two ETFs.
Joby Aviation investors have reason to be optimistic. In April, the eVTOL company flew its flagship aircraft from JFK International Airport to three Manhattan heliports. The flight demonstrated the readiness of Joby's aircraft and proved it can be a significant time-saver, flying from the airport to downtown Manhattan in just seven minutes.
Image source: Joby Aviation.
This comes as the U.S. government pushes to accelerate the development and launch of eVTOL aircraft through its eVTOL Integration Pilot Program (eIPP). The eIPP aims to speed up traditional approval processes, enable companies like Joby and competitor Archer Aviation to work with state and local governments, and help the Federal Aviation Administration obtain real-world data on safety, noise, and traffic integration by testing urban operations before full commercial certification.
What's next for Joby Aviation Joby is working through the FAA certification process to obtain Type Certification, the regulator's seal of approval confirming that the aircraft's design is safe for commercial passenger use. Joby hopes to achieve this no later than mid-2027. In addition, the company will look to run more test operations across 11 partner states, including cargo delivery and medical response in Florida and North Carolina. It also aims to launch its air taxi service in Dubai by the end of this year, though the conflict in the Middle East could affect that timeline.
The company is developing exciting air taxis that feel like something out of science fiction. Joby is laying the groundwork right now, including scaling up its manufacturing ability. It has also partnered with Uber Technologies and purchased Blade Air Mobility's passenger business, giving it control of Blade's heliport lounges and terminal footprints in dense metro areas like New York City.
Joby has a first-mover advantage in the eVTOL space. That said, it is still a speculative, early-stage start-up in a brand new industry that will take time to develop, making it a stock best suited for aggressive investors willing to hold for the long haul.
It has been about a month since the last earnings report for Joby Aviation, Inc. (JOBY - Free Report) . Shares have added about 8.7% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Joby Aviation, Inc. due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
JOBY Incurs Loss in Q1Joby Aviation reported a first-quarter 2026 loss of 21 cents per share (on an adjusted basis), which matched the Zacks Consensus Estimate. In the year-ago reported quarter, JOBY incurred loss of 18 cents.
Quarterly revenues came in at $24.24 million, beating the Zacks Consensus Estimate of $19 million.
In the March-end quarter, total operating expenses increased 57.9% year over year due to higher research and development (up 32.2%) and selling, general, and administrative (up 112.2%) costs.
Adjusted EBITDA in the first quarter of 2026 was a loss of $178.54 million, which includes employee costs and support associated with the development, certification and manufacturing of the aircraft and operations of Blade.
JOBY exited the first quarter with cash and cash equivalents of $874.52 million compared with $240.81 million at the end of prior quarter. Long-term debt was $701.05 million at the end of the reported quarter.
Full year 2026 total revenues is expected in the range of $105 million to $115 million.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a downward trend in fresh estimates.
VGM ScoresCurrently, Joby Aviation, Inc. has a poor Growth Score of F, however its Momentum Score is doing a bit better with a D. Charting a somewhat similar path, the stock has a grade of F on the value side, putting it in the lowest quintile for value investors.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Joby Aviation, Inc. has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerJoby Aviation, Inc. belongs to the Zacks Aerospace - Defense industry. Another stock from the same industry, L3Harris (LHX - Free Report) , has gained 0.4% over the past month. More than a month has passed since the company reported results for the quarter ended March 2026.
L3Harris reported revenues of $5.74 billion in the last reported quarter, representing a year-over-year change of +11.9%. EPS of $2.72 for the same period compares with $2.41 a year ago.
For the current quarter, L3Harris is expected to post earnings of $2.79 per share, indicating a change of +0.4% from the year-ago quarter. The Zacks Consensus Estimate has changed +1% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for L3Harris. Also, the stock has a VGM Score of C.
Like the Wright Brothers, Joby Aviation (JOBY +6.09%) has beaten every air taxi start-up to the punch. Instead of the dunes of Kitty Hawk, however, Joby's big moment happened around the skyscrapers of New York City: In late April 2026, it flew the first point-to-point electric air taxi flight from JFK Airport to Manhattan in under 10 minutes.
Image source: Joby Aviation.
It's hard to overstate the significance of this event, not only for Joby but also for the nascent electric vertical takeoff and landing (eVTOL) industry as a whole. For decades, the dream of widespread urban air mobility has never lived beyond the imagination; now, investors can point to something concrete and say, "Look, this actually works."
Joby Aviation, along with Archer Aviation (ACHR +5.05%) and other eVTOL start-ups, is chasing a market opportunity that some value in the trillions of dollars. No eVTOL company has successfully obtained the FAA certification to start flying passengers commercially, but Joby is getting pretty close.
Seen through rose-tinted glasses, Joby will have secured FAA certification and established commercial routes in operation by 2031. In that most bullish case, Joby will be generating hundreds of millions of dollars in revenue, possibly billions, proving that a 10-to-15-minute urban hop over sluggish traffic is worth the premium price.
Data by YCharts
Execution risks, however, abound; the path to unlocking billions in revenue won't be easy. Joby has to scale eVTOL manufacturing while balancing the realities of infrastructure and certification requirements. It also has to pique consumer demand while also proving that its air taxis are safe and reliable.
At this point, however, Joby has demonstrated such engineering expertise that it would genuinely shock me if it failed to establish itself as a leader in the air taxi market. Just how big that market will be -- or how profitable to Joby -- is still unknown. Investors should expect turbulence, but Joby appears to have a legitimate shot at reaching its destination.
Steven Porrello has positions in Archer Aviation and Joby Aviation. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
According to local news, as many as 9,000 helicopter flights can take place across New York City on a fair-weather day. You can see them whizzing over the Hudson, orbiting Liberty Island like big flies, sweeping from the Upper West Side to the Financial District, to the Brooklyn waterfront, around the South Street Seaport. Their whop-whop thrum is inescapable; it penetrates walls and fills the area around you.
If you've stayed with me through this rather lengthy introduction, you might guess where this is going. When we talk about Joby Aviation (JOBY +6.09%), or rather the potential of electric vertical takeoff and landing (eVTOL) aircraft, adoption of these flying taxis is usually a major question on the table. Even if a company like Joby gets regulatory approval to fly air taxis, will consumers bite? Will cities or communities adopt them? Will flights get booked?
While only time will tell whether the air taxi concept sticks, several factors suggest that it will.
Image source: Joby Aviation.
Quiet, clean, and safe -- the three pillars that will make Joby a lasting success In a nutshell, Joby Aviation is trying to build flying taxis. Not the kind in The Jetsons, Back to the Future, Blade Runner, or any other sci-fi depiction of levitating cars. Joby's flying taxi is like a cross between a drone and a Cessna airplane: It takes off vertically like a helicopter, then propels forward as its six rotors tilt.
Joby's battery-powered aircraft produce no emissions in flight, and their large-diameter propellers generate far less noise than that of traditional helicopters.
To put that into perspective, Joby's eVTOLs produce about 55 decibels (dB) of noise during hover, compared to roughly 90 dB for a conventional helicopter. That's the difference between, say, a conversation at a normal sound level and a lawn mower.
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Quieter take-off and hovering frequencies aren't even Joby's primary selling point. Its entire business model depends on the frustration and despair that many commuters feel toward the bane of any urban planner's existence: traffic. To give an example: In rush hour, it can take anywhere from an hour to two hours to drive the 15-ish miles from Manhattan to JFK airport. Joby's air taxi service wants to cut that down to 10 minutes or less.
New York City is one of hundreds of cities that Joby could one day service. It's no wonder researchers at Morgan Stanley estimated that the urban air mobility market could be worth $9 trillion by 2050 in a bull-case scenario. But Joby still has a lot of work ahead. Foremost, it needs FAA type certification. After that, it needs to prove, again and again, that its air taxis are safe and reliable; one accident in this industry, especially one as new as eVTOL travel, could be hard to recover from.
Joby Aviation isn't for the squeamish. Without meaningful revenue, the stock will likely get turbulent before it flies straight. For those who can hold on to this stock through the shaky middle, the long-term gains could be immense.
Joby Aviation (JOBY +6.09%) stock saw strong gains in May's trading, rising 29.5% across the stretch. Meanwhile, the S&P 500 rose 5.2%, and the Nasdaq Composite surged 8.4% higher.
The broader market hosted strong bullish momentum for growth stocks last month, and a solid quarterly report helped support big gains for Joby. Despite a big pop last month, the company's share price is down roughly 28% year to date.
Image source: Getty Images.
Joby's Q1 report helped support big gains last month Joby published its first quarter results on May 5, reporting sales and earnings that surpassed Wall Street's estimates. The business recorded a loss of $0.12 per share on sales of $24 million. The company's per-share loss was 0.09 lighter than anticipated, and its sales came in $3.8 million higher than the average analyst estimate.
Along with its fiscal Q1 report, Joby narrowed its revenue guidance for the year to between $105 million and $115 million. Even though the company's previous sales forecast had called for sales between $105 million and $150 million, the company's recent quarterly report and outlook update were enough to support big gains last month.
Joby trimmed the higher end of its full-year sales forecast, but investors were still relatively pleased with the sales outlook and the company's confirmation that it's on track to begin commercial flights this year. Investors broadly adopted risk-on positioning last month, and the trading backdrop helped facilitate big gains for the electric vertical take-off and landing (eVTOL) aircraft specialist.
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Why is Joby stock slipping in June? While Joby's share price saw a huge surge last month, it's given up much of those gains in June. As of this writing, the stock has fallen roughly 19.8% in June so far. Meanwhile, the S&P 500 is down 2.6%, and the Nasdaq Composite is down 4.7%.
After last month's strong bullish trading for growth stocks, investors have been shifting to risk-off positioning in June in response to concerns that the Federal Reserve could be on track to raise interest rates. The Bureau of Labor Statistics (BLS) published its May jobs report on June 5, and the report wound up having a big bearish impact on the broader market.
While economists had forecasted that only 80,000 nonfarm payroll positions were added last month, the BLS estimated that 172,000 positions were actually added in the period. With job growth coming in stronger than anticipated, investors shifted their holdings in response to expectations that the report had made it more likely that the Fed will hike rates this year.
Joby Aviation currently has a market capitalization of roughly $9.4 billion and is valued at approximately 84 times this year's expected sales. With such a highly growth-dependent valuation, Joby stock could face additional pressures if the Fed winds up raising interest rates.
It's been a wild year for stockholders of Joby Aviation (JOBY +6.09%). In July 2025, the stock rocketed upward more than 75% as interest in electric vertical takeoff and landing (eVTOL) aircraft surged. By early August, the stock was up 107.8%. But that turned out to be the high point for Joby investors.
Since then, the stock has taken shareholders on a bumpy ride downwards. Last week alone, it dropped 20.2%. Now it has a negative one-year return:
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Given the speed and severity of that drop, you might think that some major unfavorable news made investors flee the stock. You'd be right, but the news probably isn't what you'd expect. Here's what really happened to make Joby's stock tumble into the red, and what investors should expect next.
Times aren't tough all over The news that gave Joby's shares their 20% haircut last week also hit its rival Archer Aviation (ACHR +5.05%), which saw its stock price fall 19%, along with growth stocks across the market. For example, high-growth memory stock Micron Technology (MU +11.48%) dropped by 16.6%, and AI voice chatbot company SoundHound AI (SOUN +3.70%) plunged 20.1%.
Image source: Getty Images.
Ironically, the news wasn't what most of us would think of as "bad news." Instead, it was the Bureau of Labor Statistics (BLS) announcement that the U.S. economy added 172,000 nonfarm jobs in May. That's more than double what economists were expecting, and it followed a strong April jobs report that showed a gain of 179,000 nonfarm jobs. Even though the biggest drivers of those gains were jobs in leisure and hospitality and local government -- possibly indicating a large percentage of seasonal summer employees -- larger-than-expected job gains ought to be good for the economy. So, what gives?
All about the interest The job gains won't really have an impact on Joby's operations. And even though Joby's most recent company-specific news -- including completing New York City's first-ever point-to-point eVTOL air taxi demonstration flights and the dismissal of Archer Aviation's counterclaims in its trade secret lawsuit -- was positive, the jobs report caused investors to sell off the stock.
That's because two consecutive months of strong job reports make it more likely that the Federal Reserve will raise interest rates. Inflation has been creeping upward, and came in at 4.2% last month. The Fed's target inflation rate is 2%, and interest rate hikes are its primary tool to bring inflation down.
Image source: Joby Aviation.
A weak jobs report might have convinced the Fed to hold off on rate increases to avoid disrupting the labor market. But with the labor market looking strong, analysts now believe rate hikes are imminent. Federal rate hikes generally hurt high-growth companies like Joby that need to borrow to sustain their operations; such hikes may encourage investors to move their money into less risky alternatives.
Joby's shares are down more than 50% from their all-time high and are now trading just above their average price. That ups the odds that the company's shares will rise significantly if it receives FAA approval to begin commercial operations. However, Joby remains a speculative and volatile stock, and its long-term outlook is still in doubt. Only the most risk-tolerant of investors should consider buying Joby shares at this stage.
