Joby Aviation (NYSE:JOBY) has been soaring high in 2025, pushing the limits of eVTOL flight as it seeks to build out this new industry. In its latest salvo, the company touted the completion of its final international demonstration of 2025 yesterday in Japan.
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All told, JOBY’s air taxis have logged some 9,000 miles in 2025, and company aircraft have also completed multiple point-to-point flights between public airports. The company is clearly riding on much more than a wing and a prayer, and the market seems to think so as well.
The company’s share price is up over 80% year-to-date.
As 2026 beckons, JOBY management has declared its intention to begin FAA Type Inspection Authorization flight testing in the year ahead.
Will the company’s share price replicate its strong performance from 2025 in the coming year as well? Investor Lee Samaha thinks it certainly could.
“The short answer is ‘yes,’ provided everything goes right and Joby becomes the ‘Uber of the skies,’” says the 5-star investor.
Samaha explains that JOBY’s share price already includes a fair amount of optimism. With a market cap of more than $13 billion and estimated sales of $40 million, the sticker price is indeed based on a good many things falling into place.
In particular, Samaha points out that much of the company’s hopes and dreams are dependent on the company navigating the regulatory environment to achieve certification. Bears are fearful that it may not happen, and the investor isn’t so quick to dismiss this concern.
However, Samaha also notes the company has other potential revenue channels beyond urban air mobility, including in the defense and government-related fields. This could provide a bit of a buffer for JOBY if the urban travel route runs into stiffer-than-expected regulatory headwinds.
While the investor believes that JOBY has a business model that “promises long-term growth,” he does advise caution for those looking to purchase JOBY right now.
“Before buying in or adding to a position, investors might consider that they might get a better entry point,” concludes Samaha. (To watch Lee Samaha’s track record, click here)
Wall Street is on the fence when it comes to JOBY. With 1 Buy, 4 Holds, and 2 Sells, JOBY carries a consensus Hold (i.e., Neutral) rating. Its 12-month average price target of $15.45 implies minimal movement in the year ahead. (See JOBY stock forecast)
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Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.