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Why Joby Aviation, Inc. (JOBY) Outpaced the Stock Market Today
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Joby Aviation, Inc. (JOBY - Free Report) closed the latest trading day at $5.96, indicating a +1.53% change from the previous session's end. The stock's change was more than the S&P 500's daily gain of 0.29%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, added 0.43%.
The company's stock has dropped by 14.93% in the past month, falling short of the Transportation sector's loss of 2.99% and the S&P 500's gain of 2.08%.
Market participants will be closely following the financial results of Joby Aviation, Inc. in its upcoming release. The company is forecasted to report an EPS of -$0.17, showcasing a 21.43% downward movement from the corresponding quarter of the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Joby Aviation, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Joby Aviation, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 31, which puts it in the top 13% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow JOBY in the coming trading sessions, be sure to utilize Zacks.com.
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Why Joby Aviation, Inc. (JOBY) Outpaced the Stock Market Today
Joby Aviation, Inc. (JOBY - Free Report) closed the latest trading day at $5.96, indicating a +1.53% change from the previous session's end. The stock's change was more than the S&P 500's daily gain of 0.29%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, added 0.43%.
The company's stock has dropped by 14.93% in the past month, falling short of the Transportation sector's loss of 2.99% and the S&P 500's gain of 2.08%.
Market participants will be closely following the financial results of Joby Aviation, Inc. in its upcoming release. The company is forecasted to report an EPS of -$0.17, showcasing a 21.43% downward movement from the corresponding quarter of the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Joby Aviation, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Joby Aviation, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 31, which puts it in the top 13% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow JOBY in the coming trading sessions, be sure to utilize Zacks.com.