ARK Invest founder Cathie Wood increased her exposure to the electric air-taxi sector on Monday, May 18, investing about $3 million in shares of Archer Aviation (ACHR) and Joby Aviation (JOBY) across her exchange-traded funds (ETFs). The latest buys came as both eVTOL (electric vertical takeoff and landing) companies continue working toward commercial air taxi launches expected in 2026.
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Explore ARCX for 2X leverage on ACHRMeanwhile, Wall Street analysts currently maintain mixed views on both Archer Aviation and Joby Aviation as the companies continue progressing toward commercial eVTOL launches. Here’s a closer look at what analysts are saying about the two air taxi stocks.
Wood Continues Expanding eVTOL Bets
Archer Aviation
Cathie Wood purchased 281,199 Archer Aviation shares worth about $1.7 million on Monday. The latest purchase adds to ARK’s growing position in the company, even as ACHR stock remains down nearly 20% year-to-date.
Archer recently reported Q1 results, with revenue coming in at $1.6 million. The company also highlighted major FAA certification progress after becoming the first eVTOL company to complete Phase 3 of the FAA’s Type Certification program. Archer continues targeting a commercial launch in 2026 under the White House-backed eVTOL pilot program.
Following the release of earnings results, several analysts remained upbeat about the stock. Here’s a closer look at what analysts are saying:
- Chris Pierce (Needham): Reiterated his $9 price target with a Buy rating, as the company remains on track to begin initial flight operations in U.S. cities later this year.
- Amit Dayal (H.C. Wainwright): Maintained a Buy rating and his $18 price target, implying a massive 204% upside. He continues to view the stock as deeply undervalued relative to its long-term commercial potential.
- Austin Moeller (Canaccord Genuity): Kept his Buy rating but trimmed his target from $13 to $12 following the earnings report, adjusting for near-term market conditions while remaining confident in Archer’s growth.
Joby Aviation
Meanwhile, Wood also bought 118,699 Joby Aviation shares valued at roughly $1.23 million. JOBY stock is down more than 21% this year, though shares jumped sharply following the company’s latest quarterly earnings report earlier this month.
Joby recently said its first FAA-ready aircraft completed its first flight during the quarter. The company also strengthened its balance sheet, ending the quarter with roughly $2.5 billion in cash and short-term investments, giving it a stronger cash position than Archer. The company also reaffirmed plans to begin operations in 2026 through the White House-backed eVTOL pilot program.
Following the release of earnings results, Wall Street analysts maintained a mixed outlook on Joby stock.
- Noah Poponak (Goldman Sachs): Reiterated his Sell rating and lowered his price target from $10 to $9. He remains cautious about the stock due to near-term launch costs and execution risks, warning that the stock faces a 13% downside.
- Austin Moeller (Canaccord Genuity): Kept his Hold rating but trimmed his price target from $15.50 to $11.50. While he likes Joby’s large cash reserve, he lowered the target to adjust for higher short-term spending as the company expands its manufacturing plant.
- Chris Pierce (Needham): Maintained his Buy rating and his $18 price target. He remains confident in Joby’s long-term growth due to its strong progress with FAA certifications and its readiness to scale up production.
Which eVTOL Stock Does Wall Street Prefer?
Currently, Archer carries a Moderate Buy analyst consensus rating, with an average price target of $12.33. That implies upside potential of more than 100% from current levels. Meanwhile, Joby holds a Hold consensus rating from Wall Street analysts. The average JOBY stock price target stands at $11.79, suggesting upside potential of about 14%.
Based on current analyst ratings and price targets, Wall Street appears significantly more bullish on Archer Aviation stock than Joby Aviation.
