Joby Aviation Beats Q4 Estimates, Posts $30.8M Revenue; $18 Target
Joby Aviation reported a Q4 loss of $0.14 per share versus an expected $0.22 and delivered revenue of $30.84 million, nearly double the $16.96 million estimate. Needham raised its rating to Buy with an $18 price target implying 83% upside, citing eVTOL testing progress and an Uber partnership in Dubai.
1. Q4 Financial Performance
Joby Aviation reported a fourth-quarter loss of $0.14 per share versus an expected $0.22 loss and generated $30.84 million in revenue, nearly double the $16.96 million consensus. The results reflect accelerating commercialization efforts and strong demand for its eVTOL technology.
2. Analyst Upgrade and Price Target
Needham upgraded its recommendation to Buy and set an $18 price target, implying approximately 83% upside. The firm cited robust financial outperformance and the company’s progress in transition flight testing as drivers of the bullish outlook.
3. Uber Partnership and eVTOL Progress
Joby announced a strategic partnership with Uber in Dubai to advance electric air taxi operations in Middle Eastern markets. CEO JoeBen Bevirt highlighted ongoing eVTOL flight tests and preparations for commercial certification and service launch in 2026.