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Joby Aviation, Inc. (JOBY) Ascends While Market Falls: Some Facts to Note

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Joby Aviation, Inc. (JOBY - Free Report) closed the latest trading day at $5.41, indicating a +1.12% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.65%. Meanwhile, the Dow lost 0.18%, and the Nasdaq, a tech-heavy index, lost 1.16%.

Coming into today, shares of the company had lost 7.44% in the past month. In that same time, the Transportation sector gained 2.19%, while the S&P 500 gained 3.4%.

The investment community will be paying close attention to the earnings performance of Joby Aviation, Inc. in its upcoming release. The company's upcoming EPS is projected at -$0.17, signifying a 6.25% drop compared to the same quarter of the previous year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.72 per share and revenue of $3.17 million, indicating changes of +8.86% and +207.17%, respectively, compared to the previous year.

Any recent changes to analyst estimates for Joby Aviation, Inc. should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 4.49% downward. 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 bearing a Zacks Industry Rank of 54, finds itself in the top 22% echelons of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.


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