Joby Aviation (JOBY) Reaches Milestone in FAA Certification with First Conforming Aircraft
We've identified 5 possible red flags with Joby Aviation (at least 1 which is a bit concerning) and understanding the impact should be part of your investment process.
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Over the past year, Joby Aviation's shares experienced an impressive total return of 285.54%. This exceptional performance stands in stark contrast to the US market's 22.4% return over the same period and the US Airlines industry's 82.1% return, highlighting Joby's substantial gain relative to its peers and the broader market.
The developments mentioned in the introduction, particularly Joby's advancements in conforming aircraft assembly and strategic partnerships, could significantly influence revenue and earnings forecasts. Despite a current revenue of just US$111,000 and being forecast to remain unprofitable over the next three years, these milestones may lay the groundwork for future growth. However, the high share price, presently at US$18.93, has surpassed analysts' consensus price target of US$8.75, indicating a significant premium compared to expectations. This disparity suggests heightened market optimism, which investors should consider when evaluating Joby's long-term prospects.
Our expertly prepared valuation report Joby Aviation implies its share price may be too high.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include JOBY.
This article was originally published by Simply Wall St.
Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@simplywallst.com
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