When Joby Aviation hits the sky in Dubai, do I need to buy Joby Stock here?
Stock in Joby Aviation (Joby) met nearly 20% this morning after saying that a series of piloted EVTOL flights in Dubai had completed a ‘successfully piloted’ EVTOL flight.
According to a press release on Monday, the test included a complete transition flight. On this flight, the aircraft takes off vertically and flies like a traditional plane before eventually landing vertically again.
Including today’s surge, Joby stock has grown by about 100% since the beginning of the year in early April.
Successfully completing the completion of a piloted EVTOL flight in Dubai is important for Joby Aviation as it demonstrates technical preparation and enhances overall reliability in a real-world regulation-rich environment.
The air taxi startup announced today is not a simulation-based milestone. They are high stakes demonstrations in collaboration with local governments, including RTA and GCAA.
Joby’s press release will also examine the path to commercial operation by next year (2026) under a six-year exclusive agreement in Dubai.
For businesses currently navigating certification, infrastructure build-outs, and first-moving pressures, Milestone offers an unusual blend of tangible progress and visibility into future revenue.
It’s this optimism that Joby Aviation shares on Monday.
With news of the pilot test flight, Canaccord analysts have repeatedly “buy” ratings of Joby stock at a price target of $12, showing a potential rise of an additional 11% from current levels.
Canaccord expects NYSE-registered companies to benefit particularly from their Toyota (TM) $500 million investment.
He also expressed confidence in the enormous expansion, where Joby Aviation’s Marina Factory production capacity improves four expansion capabilities per month from one EVTOL.
However, investors should note that Joby’s stock is more expensive to own at the current level than Archer Aviation (ACHR). They want a price to be 8.71x at the time of writing – well above 5.75x at ACHR.
Wall Street recommends holding Joby Aviation shares as much of the good news following today’s rally may already be priced.