Movement Alert｜Joby Aviation, Inc. Falls 4.76% in Regular Trading, Post-Earnings Target Cuts Continue to Weigh on Shares

Market Focus11-12 23:12

On November 12, Joby Aviation, Inc. fell 4.76% in Regular Trading, trading at $5.52, with turnover of $18.4788 million.

The move followed continued pressure after the company’s stronger-than-expected third-quarter results and raised full-year revenue outlook were overshadowed by analyst target-price cuts and ongoing investor focus on persistent losses and cash burn.

Joby Aviation, Inc. previously reported third-quarter EPS of a $0.22 loss, better than the expected $0.25 loss, while revenue rose to $55.089 million from $22.6 million a year earlier and exceeded expectations of about $39.218 million. The company also raised full-year revenue guidance to $135 million-$140 million from $115 million-$125 million. Even so, Morgan Stanley cut its target price to $10 from $13, and Canaccord Genuity lowered its target to $7 from $11.5, indicating that improved operating metrics have not fully offset valuation, loss, and funding concerns.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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