Electric air taxis are gaining attention as the next big step in urban transportation, and Archer Aviation (ACHR) and Joby Aviation (JOBY) are leading the race. Both companies are working toward FAA approval and plan to roll out commercial flights over the next few years. Using TipRanks’ Stock Comparison Tool, we compared the two to see which stock Wall Street believes offers more upside.
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Archer Aviation (NYSE:ACHR) Stock
Archer stock has lost about 20% so far this year, as investors react to shifting timelines and higher development costs. In its latest update in October 2025, the company said it is still working with the FAA toward the next step in approval, called the Type Inspection Authorization (TIA). This stage allows FAA test pilots to begin flying the Midnight aircraft. Archer also confirmed in its November 2025 update that commercial flights are now expected sometime in 2026, instead of the earlier 2025 goal.
Even with delays, analysts remain hopeful. Archer has built a strong set of partnerships, including a new agreement with defense tech firm Anduril, which could open an additional revenue stream through powertrain supply. The company also has early agreements with several airports that plan to support electric air taxi routes. If FAA progress continues and production moves forward next year, analysts believe Archer could still be one of the first companies to launch an air taxi service in the U.S., giving the stock room to recover over the long term.
On the earnings front, Archer posted a smaller loss of $0.20 per share in Q3 2025, compared with $0.29 a year ago and better than Wall Street’s forecast of $0.30. The company ended the quarter with $1.64 billion in cash and short-term investments, giving it support as development continues. For now, Archer remains a pre-revenue business. However, CEO Adam Goldstein said revenue is expected to start in the first quarter of 2026, as the company moves closer to commercial launch.
Joby Aviation (NYSE:JOBY) Stock
Joby Aviation stock has surged about 77% year-to-date, as investors grow more confident in the company’s progress and its position in the electric air-taxi race. In its latest update in October 2025, Joby said it had begun power-on testing for its first FAA-conforming aircraft — a key step before FAA pilots can fly it. The company also said it expects to move toward the Type Inspection Authorization (TIA) phase in the coming months, which keeps it on track with its certification plan.
Even after the strong rally, Joby is still early in its commercial journey, and the stock may remain volatile as investors wait for testing and FAA approval updates. The company recently said it is still aiming for a 2026 launch for passenger flights, depending on certification progress.
On the earnings side, Joby reported a loss of $0.48 per share in Q3 2025. The company also reported $23 million in revenue, mainly from government and defense-related work, not from commercial air taxi service yet. Analysts see this as a positive step, showing Joby can generate income while it works toward approval and full commercial operations.
Wall Street’s Take on ACHR and JOBY Stocks
Using TipRanks’ Stock Comparison Tool, we compared Archer and Joby Aviation to see which air taxi stock analysts currently favor. Archer stands out with a Strong Buy rating, while Joby holds a Hold rating.
Analysts see greater upside potential in Archer, with an average price target of $12.40, implying about 59% upside from current levels. In contrast, Joby’s average price target of $15.50 points to a possible 7% upside.
