Next year could be a big one for the air taxi company as it may launch its services in multiple markets.One of the leading companies in the electric vertical take-off and landing (eVTOL) vehicle space is Joby Aviation (JOBY 0.45%). Although it hasn't commenced commercial operations yet and still faces many questions about its future, investors have been bullish about its growth prospects. So far this year, the stock is up by close to 90%. Joby's market cap is now around $14 billion, which effectively bakes ...

Core Viewpoint - Joby Aviation, Inc. has experienced a 10.1% increase in share price over the past month, outperforming the S&P 500, but concerns remain about the sustainability of this trend leading up to the next earnings report [1][2]. Financial Performance - Joby reported a third-quarter 2025 loss of 26 cents per share, which was wider than the Zacks Consensus Estimate of 19 cents and the previous year's loss of 21 cents [3]. - Quarterly revenues reached $22.6 million, significantly exceeding the Zacks Consensus Estimate by 140.2%, compared to only $0.03 million in the same quarter last year [3]. - Total operating expenses increased by 30.3% year over year, driven by a rise in research and development costs (up 18.2%) and selling, general, and administrative costs (up 47%) [4]. - Adjusted EBITDA for the third quarter was a loss of $132.8 million, which included costs related to employee expenses for aircraft development and the Blade acquisition [4]. - At the end of the third quarter, Joby had cash and cash equivalents of $208.4 million, up from $199.6 million at the end of 2024, with expectations to generate cash and short-term investments in the range of $500-$540 million for 2025 [5]. Estimate Revisions - There has been a downward trend in estimates, with the consensus estimate shifting down by 8.33% over the past month [6]. - Joby Aviation currently holds a Zacks Rank 3 (Hold), indicating an expectation of an in-line return in the coming months [8]. VGM Scores - Joby Aviation has a poor Growth Score of F, a Momentum Score of F, and a Value Score of F, placing it in the fifth quintile for investment strategy [7]. Industry Comparison - Joby Aviation is part of the Zacks Aerospace - Defense industry, where General Dynamics has seen a slight gain of 0.4% over the past month, reporting revenues of $12.91 billion for the quarter ended September 2025, reflecting a year-over-year increase of 10.6% [9].

Transportation Secretary Sean Duffy has shared that the U.S. will allow air taxis to operate within the country in what could be a major boost for Joby Aviation Inc. (NASDAQ:JOBY) and Archer Aviation Inc. (NASDAQ:ACHR) .Air Taxis Will Happen Under Trump, Says DuffyDuring an appearance on The Clay Travis and Buck Sexton Show on Thursday, Duffy was asked about air taxis seeing the light of day in the U.S. under President Donald Trump. "100%" Duffy said, adding that air taxis were "safer and quieter and cheape ...

Core Insights - Demand for advanced air transport, particularly eVTOL aircraft, is increasing due to urban congestion and technological advancements [1] - Investor confidence is rising in companies like Vertical Aerospace Ltd. (EVTL) and Joby Aviation (JOBY), which are developing eVTOL aircraft [1] Vertical Aerospace (EVTL) - Vertical Aerospace is advancing its VX4 aircraft, focusing on certification and expanding into international markets [2] - Insiders at Vertical Aerospace have increased their shareholdings by approximately 50%, indicating confidence as the company approaches key milestones [4][5] - The company received a permit from the U.K. Civil Aviation Authority and is conducting Phase 4 transition testing for the VX4 prototype [6] - Vertical Aerospace is involved in the OxCam AAM Corridor project, which aims to accelerate the transition to commercial air mobility operations in the U.K. [7] Joby Aviation (JOBY) - Joby signed a memorandum of understanding with Red Sea Global and The Helicopter Company for pre-commercial evaluation flights in Saudi Arabia in 2026 [8] - The partnership aims to create a testing environment for air taxi operations, enhancing Joby's international presence [9] - Joby is targeting commercial services soon and has acquired Blade Air Mobility's urban air mobility passenger business, marking a significant step towards commercialization [12] - Joby's growth is supported by strategic partnerships, including a substantial investment from Toyota totaling nearly $1 billion [13] Comparative Analysis - Joby has outperformed EVTL in share price and liquidity, indicating a stronger market position [10][14] - Joby's current ratio is significantly higher than EVTL's, suggesting better liquidity to meet short-term obligations [18] - In terms of earnings surprises, EVTL has had mixed results, while JOBY has consistently missed earnings estimates [20] - Overall, Joby appears to be the stronger candidate in the eVTOL market due to its commercial traction, partnerships, and liquidity position [21][22]

Core Viewpoint - Retail traders are heavily investing in EVTOL stocks, particularly Joby Aviation and Archer, despite Goldman Sachs expressing concerns about overhype in the flying car market [1][2][3] EVTOL Market Performance - EVTOL stocks have shown volatility in 2026, with Joby stock increasing by 70% year-to-date, while Archer has decreased by 22%. Other competitors, BETA Technologies and Eve Holding, have also seen declines of 16% and 13% respectively [2] - High retail investor participation is identified as a significant factor contributing to the volatility of these stocks [2] Retail Participation and Analyst Ratings - Retail participation in Joby and Archer is more than double that of the S&P 500, indicating strong retail interest [3] - Goldman Sachs has initiated coverage with a "Sell" rating for Joby, despite its strong performance this year, and has a "Buy" rating for BETA Technologies, citing it as the best-positioned company in the sector [3][4] Company-Specific Insights - Joby is noted for having the most flight hours and a comprehensive business model, but faces regulatory hurdles and high capital requirements [4] - Archer is viewed cautiously due to its lack of vertical integration, which may lead to lower margins, despite its rapid progress [5][6] - Eve Holdings is considered to be lagging behind its competitors, receiving a Neutral rating from analysts [5] Market Sentiment - Retail traders appear to favor Archer over Joby, despite Joby's better stock performance, as indicated by Stocktwits data from 2025 [6]

（原标题：高盛"踏足"eVTOL赛道：力挺BETA Technologies(BETA.US)，看衰Joby Aviation(JOBY.US)） 智通财经APP获悉，高盛公司开始涉足电动垂直起降飞行器(eVTOL)行业的股票评级业务。该公司在初 次评估中，给予BETA Technologies(BETA.US)"买入"评级，给予Archer Aviation(ACHR.US)和Eve Holding(EVEX.US)"中性"评级，并将Joby Aviation(JOBY.US)评为"卖出"。 它已与通用电气(GE)合作开发一款用于国防的混合动力飞行器，并采取团队协作方式向竞争对手销售电 机和充电器，这将有助于其扩大规模。我们认为BETA定位最佳，近期股价下跌提供了有吸引力的入场 点。我们给予买入评级。" Joby Aviation (卖出评级): "Joby是该领域历史最悠久的公司，飞行时数最多，且在认证方面领先。它致 力于成为一站式服务提供商(涵盖制造、供应、运营)，这意味着它拥有最大的市场机会，但我们认为其 运营模式将面临监管障碍和巨大的资本需求...该股目前交易价格存在显著溢价，我们认为这不合理。" ...

它已与通用电气(GE)合作开发一款用于国防的混合动力飞行器，并采取团队协作方式向竞争对手销售电 机和充电器，这将有助于其扩大规模。我们认为BETA定位最佳，近期股价下跌提供了有吸引力的入场 点。我们给予买入评级。" 智通财经APP获悉，高盛公司开始涉足电动垂直起降飞行器(eVTOL)行业的股票评级业务。该公司在初 次评估中，给予BETA Technologies(BETA.US)"买入"评级，给予Archer Aviation(ACHR.US)和Eve Holding(EVEX.US)"中性"评级，并将Joby Aviation(JOBY.US)评为"卖出"。 分析师安东尼·瓦伦蒂尼指出，技术进步以及现任政府希望将制造业带回美国的意愿，增加了eVTOL行 业认证时间表的能见度。"竞争激烈，但我们认为这不是一个赢家通吃的市场。我们更青睐售后市场利 润丰厚、垂直整合、具有收入能见度且有满足未来巨大需求能力的商业模式。" 以下是高盛对各eVTOL股票的具体分析： BETA Technologies (买入评级): "其通过CTOL飞机进行的分阶段认证流程，能提前实现收入并加速学习 曲线，且不影响eVTOL的时间线。 ...

A key reason for Goldman's rating is the aircraft maker's high valuation, given the uncertainty of the industry. But investors see potential. ...

Joby Aviation stock has already climbed over 70% on the year. But obtaining FAA-type certification in 2026 could start a decade of growth.Joby Aviation (JOBY +2.19%) is an aircraft start-up that could alleviate a problem most city drivers slog through every day: traffic.Its big idea is to fly passengers in electrical vertical takeoff and landing (eVTOL) aircraft, which can buzz over congested city roads and highways, especially to and from airports.If that description made you think, "wait -- isn't that jus ...

Core Insights - The recent sell-off of electric air taxi companies presents a potential entry point for long-term investors despite skepticism surrounding the industry [1][2] Company Summaries Joby Aviation - Joby Aviation is leading in the eVTOL market and is in the final stage of FAA certification, with expectations for commercial operations by 2026 [3][4] - The stock has decreased approximately 35% from its 52-week high of nearly $21, resulting in a market capitalization of around $12.8 billion [4][6] - Joby has completed over 600 flights this year and announced a $250 million aircraft sale in Kazakhstan, indicating growing international demand [7] Archer Aviation - Archer Aviation focuses on selling aircraft to operators and building infrastructure for urban air mobility, with its stock down roughly 34% recently [8][11] - The company acquired Hawthorne Airport for $126 million, positioning itself strategically for the upcoming 2028 Olympics in Los Angeles [9] - Archer has over $2 billion in liquidity and has secured partnerships with Stellantis and United Airlines, enhancing its long-term prospects [11] Market Outlook - Wall Street remains optimistic, with a consensus price target of around $12.4 for the companies, suggesting a potential 70% upside from current levels [12] - The eVTOL industry is expected to grow into a multibillion-dollar market by the end of the decade, with both companies having the necessary partnerships and technology to lead [14]