Fintel reports that on May 3, 2024, JP Morgan upgraded their outlook for Joby Aviation (NYSE:JOBY) from Underweight to Neutral.
Analyst Price Forecast Suggests 45.35% Upside
As of May 2, 2024, the average one-year price target for Joby Aviation is 7.82. The forecasts range from a low of 4.04 to a high of $11.55. The average price target represents an increase of 45.35% from its latest reported closing price of 5.38.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Joby Aviation is 1MM, a decrease of 40.70%. The projected annual non-GAAP EPS is -0.64.
What is the Fund Sentiment?
There are 412 funds or institutions reporting positions in Joby Aviation. This is an increase of 25 owner(s) or 6.46% in the last quarter. Average portfolio weight of all funds dedicated to JOBY is 0.63%, an increase of 32.33%. Total shares owned by institutions increased in the last three months by 5.93% to 297,975K shares. 
The put/call ratio of JOBY is 0.47, indicating a bullish outlook.
What are Other Shareholders Doing?
Baillie Gifford holds 53,958K shares representing 7.64% ownership of the company. In its prior filing, the firm reported owning 56,320K shares , representing a decrease of 4.38%. The firm decreased its portfolio allocation in JOBY by 24.20% over the last quarter.
Capricorn Investment Group holds 40,361K shares representing 5.71% ownership of the company. In its prior filing, the firm reported owning 40,956K shares , representing a decrease of 1.47%. The firm decreased its portfolio allocation in JOBY by 0.85% over the last quarter.
Intel holds 31,091K shares representing 4.40% ownership of the company. In its prior filing, the firm reported owning 33,706K shares , representing a decrease of 8.41%. The firm decreased its portfolio allocation in JOBY by 8.87% over the last quarter.
8vc Gp I holds 14,395K shares representing 2.04% ownership of the company. No change in the last quarter.
Delta Air Lines holds 11,044K shares representing 1.56% ownership of the company. No change in the last quarter.
Joby Aviation Background Information
(This description is provided by the company.)
Joby Aviation is a California-headquartered transportation company developing an all-electric vertical takeoff and landing aircraft which it intends to operate as part of a fast, quiet, and convenient air taxi service beginning in 2024. The aircraft, which can travel up to 150 miles on a single charge, can transport a pilot and four passengers at speeds of up to 200 mph. It is designed to help reduce urban congestion and accelerate the shift to sustainable modes of transit. Founded in 2009, Joby employs more than 800 people, with offices in Santa Cruz, San Carlos, and Marina, California, as well as Washington D.C. and Munich, Germany.
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This story originally appeared on Fintel.
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