Joby Aviation (NYSE:JOBY) stock is taking flight once again, rising 6% today after a brief breather over the past week. The rally puts it back in familiar territory – up 82% in 2025 and, wait for it, a whopping 783% over the past 12 months. At this rate, the sky may not be the limit after all.
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Much of this surge is driven by renewed excitement around a long-held dream: flying cars. Once confined to the realm of science fiction, the concept is edging closer to reality, and Joby is positioning itself at the forefront of this transformation.
Founded roughly 15 years ago, the eVTOL company has logged hundreds of flight hours, made substantial progress toward securing FAA approval, and recently completed a 150-mile-plus test flight. It’s also doubling production capacity at its Marina, California plant, signaling clear intentions to scale.
With commercial flights targeted for 2026 and backing from major names like Toyota, Uber Technologies, and Delta Airlines, optimism surrounding Joby’s future is easy to understand. But not everyone is jumping on board just yet.
Despite the rising sentiment, one top investor, known by the pseudonym Juxtaposed Ideas, is sounding a note of caution.
“We do not urge anyone to chase JOBY at current levels, since the stock is no longer trading within reasonable valuations/fundamentals for investors seeking long-term capital appreciation,” warns Juxtaposed, who is among the top 2% of TipRanks’ stock pros.
Juxtaposed points out that the pre-revenue company is burning through cash at a fast clip, while its share count is rising. With a break-even point far off on the horizon, current investors can likely expect their holdings to be diluted via future capital raises.
Moreover, the investor argues that much of the current hype may taper off once eVTOL transportation becomes commoditized. While JOBY’s forward EV-to-sales ratio sits just under 7,000x, that multiple could eventually fall in line with more mature aerospace players like Boeing (2.44x) and Airbus (1.88x).
“These numbers underscore that JOBY’s recent rally has occurred overly fast and furious indeed,” the investor adds.
All in all, Juxtaposed once again urges investors not to “chase this rally over the cliff,” assigning JOBY shares a Hold (i.e., Neutral) rating. (To watch Juxtaposed Ideas’ track record, click here)
Wall Street analysts, for their part, appear split on JOBY. With 3 Buys, 2 Holds, and 1 Sell, the stock carries a Moderate Buy consensus rating. However, even the bulls may need to catch their breath – the average 12-month price target of $10 implies a steep 45% downside from current levels. (See JOBY stock forecast)
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Disclaimer: The opinions expressed in this article are solely those of the featured investor. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.