Joby Aviation (JOBY) shares soared on Wednesday after the electric vertical take-off and landing (eVTOL) company said its initial operations are now expected to begin in 2026.
The post-announcement rally drove JOBY decisively above its 20-day and 50-day moving averages (MAs), indicating bulls are starting to take back control across multiple timeframes.
Despite today’s surge, Joby Aviation stock remains down more than 35% versus its YTD high.
Should You Load Up on Joby Aviation Stock Today?
It’s reasonable to expect further upside from JOBY stock, given the company has been selected for the eVTOL Integration Pilot Program (eIPP), a White House initiative that fast-tracks its path to revenue.
By partnering with 11 states (including New York and Texas), the NYSE-listed firm can start early-stage operations ahead of full FAA type certification, shifting the narrative from “if” they will fly to “where” they will fly first.
On May 6, Joby Aviation also confirmed that it has entered Stage 5 of the FAA certification process, effectively making its shares even more attractive for long-term investors.
With its first conforming aircraft already in flight testing, the company has evolved from the theoretical design phase to the final execution phase, which reduces the binary risk often tied to pre-revenue aerospace businesses.
Why Else Are JOBY Shares Attractive in 2026?
For high-risk investors, Joby Aviation shares remain attractive at current levels also because the company ended its fiscal Q1 with an exciting $2.5 billion in cash on the balance sheet.
Given the management just pinned 2026 as the launch year, this signals to the market that JOBY’s current cash reserves are sufficient to bridge the gap to commercialization without requiring further dilutive capital raises in the near-term.
All in all, from partnerships with Toyota (TM) for manufacturing scale to the integration of its Superpilot autonomous technology, JOBY is demonstrating it has the infrastructure ready to support a fleet, not just a one-off demonstration.
What’s also worth mentioning is that options pricing signals a bullish skew as well, with the upper price on contracts expiring late November at $14 indicating potential for another 37% rally through year-end.
How Wall Street Recommends Playing Joby Aviation
Wall Street analysts are also largely bullish on JOBY shares for the next 12 months.
While the consensus rating on Joby Aviation sits at a "Hold," the mean price target of nearly $12 suggests potential upside of another 15% from here.
On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
