Canaccord Upgrades Joby Aviation to Buy, Cuts Target to $7
Needham kept its buy rating on Joby Aviation and lowered its price target to $10 from $15.
Key points
- Canaccord Genuity: upgrade to buy from hold, target cut to $7 from $11.50
- Needham: buy rating maintained, target cut to $10 from $15
- Stock rose 5.0% on Nov. 5 to close at $5.30; S&P 500 ETF fell 4.4%
- Prior coverage median target was $10.00; range $4 to $18
Canaccord Genuity upgraded Joby Aviation (NYSE: JOBY) to buy from hold on Thursday and cut its price target to $7 from $11.50. Needham maintained its buy rating and lowered its target to $10 from $15. Both actions came before the open.
The stock closed at $5.05 on Wednesday, Nov. 4, after falling 12.2% over the 20 sessions to that close.
On Thursday, Nov. 5, the stock rose 5.0% to close at $5.30, while the S&P 500 ETF fell 4.4% that session.
Before Thursday, seven firms had rated Joby in the past year: two positive, two neutral and three negative. Their median target was $10.00, with targets ranging from $4 to $18. Canaccord's new $7 target sits below that median, and Needham's $10 matches it.
For scale, Joby reported revenue of $53.4 million for 2025 and an operating loss of $719.6 million. As of June 30, cash and investments totaled $2.26 billion.
Joby filed its quarterly report on Form 10-Q on Wednesday, Nov. 4, the day before the actions.
Sources
Written with AI from analyst rating changes, SEC filings and market data, and checked against those sources before publishing. Our editorial standards.
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More on Joby Aviation
JOBY page →Filings, figures and price history are on the Joby Aviation page.