Joby Aviation Up 28% But Here Is Where the Stock Could Go Next

Shares of Joby Aviation (NYSE: JOBY) are up more than 28%, or $1.83 on the day.

Volume even spiked to 71.7 million shares, as compared to its daily average volume of 11.6 million shares.

All after Joby announced a $250 million investment from Toyota — which is part of a previously announced deal from Toyota to invest $500 million from October 2024.

As noted in a Joby Aviation press release, “The funding marks a significant milestone in strengthening the long-term collaboration between the two companies and supports their shared vision for the future of air mobility.”

“The investment is aimed at supporting certification and commercial production of Joby’s electric air taxi. This underscores the mutual commitment to deepening integration and delivering next-generation travel to global markets. This investment also puts the two companies a step closer toward a strategic manufacturing alliance.”

HC Wainwright Has a Buy Rating on JOBY

Analysts at HC Wainwright have a buy rating on the stock with a price target of $9 a share.

The firm also believes, “2025 is setting up to be a very news-heavy period for the eVTOL industry with multiple catalysts playing out on several fronts ranging from certification milestones to piloted flights. The firm believes this financing should support the company’s expected cash usage of $500M-$540M in 2025 and allow the company to take concrete steps towards setting up manufacturing infrastructure,” as noted by TipRanks.com.

JOBY Earnings Have Been Strong 

In its most recent quarter, the company posted a net loss of $82.4 million, or 11 cents per share. That was narrower than the $94.6 million, or 14 cents per share loss year over year.

JOBY also became the first electric air taxi company to move to routine flights with a pilot.

That, by the way, is a major step toward Federal Aviation Administration (FAA) flight testing. The company also made progress on the certification of its aircraft for the second quarter in a row, which strengthened its leadership position in the sector.