Joby Aviation Share Price Surpasses Analyst Target of $7.75
Recently, Joby Aviation Inc (Symbol: JOBY) shares traded above the average analyst 12-month target price of $7.75, reaching $8.86 per share. When a stock hits an analyst’s target, they may downgrade the stock based on valuation or raise their target price. Reactions from analysts could also depend on the company’s latest business developments, suggesting potential for a price increase.
Within the Zacks coverage universe, eight analysts contribute to Joby’s average price target. While the average target is $7.75, opinions vary significantly; one analyst projects a low of $4.00, while another predicts a high of $12.00. The standard deviation among these estimates is $2.712.
The average price target reflects a “wisdom of crowds” approach, incorporating various expert opinions rather than relying on a single analyst. With JOBY exceeding this average target, investors are prompted to evaluate if $7.75 is merely a stepping stone toward a higher target or an indication to consider profits. The table below displays current analyst ratings for Joby Aviation Inc:
| Recent JOBY Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 3 | 3 | 3 | 4 |
| Buy ratings: | 1 | 1 | 1 | 1 |
| Hold ratings: | 3 | 3 | 3 | 2 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 2 | 2 | 2 | 2 |
| Average rating: | 2.67 | 2.67 | 2.61 | 2.44 |
The average rating in the table ranges from 1 (Strong Buy) to 5 (Strong Sell). This analysis utilized data from Zacks Investment Research via Quandl.com.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
