Joby Aviation, Inc. (JOBY) Exceeds Market Returns: Some Facts to Consider
In the latest market close, Joby Aviation, Inc. (JOBY) reached $5.26, with a +1.54% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.32%. Meanwhile, the Dow gained 0.68%, and the Nasdaq, a tech-heavy index, added 0.2%.
The the stock of company has fallen by 14.66% in the past month, lagging the Transportation sector's gain of 2.86% and the S&P 500's gain of 5.11%.
Investors will be eagerly watching for the performance of Joby Aviation, Inc. in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.17, signifying a 6.25% drop compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.72 per share and revenue of $3.17 million. These totals would mark changes of +8.86% and +207.17%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Joby Aviation, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 6.65% lower. Joby Aviation, Inc. is currently a Zacks Rank #3 (Hold).
The Transportation - Airline industry is part of the Transportation sector. This group has a Zacks Industry Rank of 54, putting it in the top 22% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Joby Aviation, Inc. (JOBY) : Free Stock Analysis Report
