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Here's Why Joby Aviation, Inc. (JOBY) Gained But Lagged the Market Today
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Joby Aviation, Inc. (JOBY - Free Report) closed at $5.72 in the latest trading session, marking a +0.7% move from the prior day. The stock's change was less than the S&P 500's daily gain of 1.07%. Elsewhere, the Dow gained 0.35%, while the tech-heavy Nasdaq added 1.74%.
Heading into today, shares of the company had lost 6.12% over the past month, lagging the Transportation sector's gain of 0.35% and the S&P 500's gain of 2.93% in that time.
Investors will be eagerly watching for the performance of Joby Aviation, Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.17, marking a 21.43% fall compared to the same quarter of the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Joby Aviation, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Joby Aviation, Inc. is currently a Zacks Rank #3 (Hold).
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 40, which puts it in the top 16% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Here's Why Joby Aviation, Inc. (JOBY) Gained But Lagged the Market Today
Joby Aviation, Inc. (JOBY - Free Report) closed at $5.72 in the latest trading session, marking a +0.7% move from the prior day. The stock's change was less than the S&P 500's daily gain of 1.07%. Elsewhere, the Dow gained 0.35%, while the tech-heavy Nasdaq added 1.74%.
Heading into today, shares of the company had lost 6.12% over the past month, lagging the Transportation sector's gain of 0.35% and the S&P 500's gain of 2.93% in that time.
Investors will be eagerly watching for the performance of Joby Aviation, Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.17, marking a 21.43% fall compared to the same quarter of the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Joby Aviation, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Joby Aviation, Inc. is currently a Zacks Rank #3 (Hold).
The Transportation - Airline industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 40, which puts it in the top 16% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.