Joby Aviation, Inc. (JOBY) Beats Stock Market Upswing: What Investors Need to Know
In the latest market close, Joby Aviation, Inc. (JOBY) reached $5.42, with a +0.93% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.86%. Meanwhile, the Dow gained 1.22%, and the Nasdaq, a tech-heavy index, added 0.51%.
Shares of the company witnessed a loss of 5.62% over the previous month, trailing the performance of the Transportation sector with its gain of 0.08% and the S&P 500's gain of 2.84%.
The investment community will be closely monitoring the performance of Joby Aviation, Inc. in its forthcoming earnings report. 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.
Investors might also notice recent changes to analyst estimates for Joby Aviation, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Joby Aviation, Inc. is currently a Zacks Rank #3 (Hold).
The Transportation - Airline industry is part of the Transportation sector. This industry, currently bearing a Zacks Industry Rank of 61, finds itself in the top 25% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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Joby Aviation, Inc. (JOBY) : Free Stock Analysis Report
