Joby Aviation Inc. (NYSE:JOBY) stock gained on Tuesday, primarily driven by news that Cathie Wood-led ARK Invest heavily purchased the stock.
On Monday, ARK Invest bought 292,119 Joby stock through ARK Autonomous Technology & Robotics ETF (BATS:ARKQ) and another 141,893 stock through ARK Space & Defense Innovation ETF (BATS:ARKX). The combined purchase totaled 434,012 units of stock, worth approximately $2 million, based on Monday’s closing price of $4.69.
• Joby Aviation shares are climbing with conviction.
Broader market strength supported the move on Tuesday, with the Nasdaq rising 1.28%, the S&P 500 adding 0.65%, and the Industrials sector advancing 0.50%.
Upcoming Q3 Earnings
Joby Aviation is set to report its third-quarter earnings on Nov. 4. Consensus estimates project an earnings loss of 25 cents per stock, compared to a loss of 48 cents per stock in the prior-year period. Revenue is estimated at $39.22 million, up from $22.57 million year-over-year.
In its second-quarter results released on Aug. 5, Joby reported revenue of $38.64 million, beating the analyst estimate of $30.38 million. The electric aircraft maker reported a quarterly loss of 25 cents per stock, wider than the expected loss of 23 cents per stock, while raising its full-year 2026 revenue outlook to $115 million–$125 million.
Wall Street Consensus
Benzinga analyst consensus data lists seven analysts covering the stock with a consensus rating of Buy. The breakdown shows two Buy ratings, two Hold ratings and three Sell ratings, with an average price target of $11, implying 112.9% upside.
Among recent firm updates, Morgan Stanley lowered its price target to $10 with an Equal-Weight rating on Oct. 19. Barclays downgraded the stock to Underweight with a $4 target on Oct. 9, while H.C. Wainwright maintained a Buy rating with an $18 target on Sept. 21.
Technical Analysis
Even after Tuesday’s pop, Joby Aviation is still trading 4.4% below its 20-day SMA ($5.18) and 18.6% below its 50-day SMA ($6.09), which keeps the intermediate trend pointed down. The bigger picture is still heavy: the stock is trading 43.6% below its 200-day SMA ($8.78), and the 50-day SMA remains below the 200-day SMA following the Death Cross in February.
The chart is also trying to stabilize after a recent swing low in October, but it’s still working under the weight of the prior swing high from August. From a levels standpoint, traders will likely treat any push back toward the 20-day/50-day area as a key test of whether this bounce can turn into something more durable.
JOBY Stock Price Activity: Joby Aviation shares were up 7.14% at $5.03 at the time of publication on Tuesday, according to Benzinga Pro data.
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