Joby Aviation (JOBY) completed New York City’s first point to point electric air taxi flights between JFK Airport and multiple Manhattan heliports, marking a visible step in its push toward commercial eVTOL services.

The recent New York City flight campaign comes after a series of high profile updates, including new vertiport plans in Los Angeles and leadership changes. It coincides with a 1 day share price return of 6.35%, a 30 day share price return of 11.60%, and a 1 year total shareholder return of 40.16%, suggesting momentum has picked up in the short term while longer term returns remain mixed.

If this progress in air taxis has caught your attention, it may be a good moment to see what else is moving in advanced transport and automation through the 35 robotics and automation stocks

With Joby still loss making, trading at US$9.04 and about 30% below the average analyst price target of US$11.79, investors now face a key question: is there real upside left here or is future growth already priced in?

Most Popular Narrative: 26% Undervalued

With Joby Aviation’s most followed narrative pointing to a fair value of $12.14 against a last close of $9.04, the gap centers on how fast the business might scale once operations expand.

The eVTOL sector is moving into a more regulated and capital intensive phase, with Joby now in the costly final stages of FAA Type Certification and building five TIA aircraft. Any slippage in certification timing or test results could extend loss making periods and push out the ramp in operating earnings.

Curious what kind of revenue ramp, margin shift and future earnings multiple are baked into that fair value, and how much share dilution is assumed along the way.

Result: Fair Value of $12.14 (UNDERVALUED)

However, Q3 2025 revenue of US$23 million and roughly US$1.55b in liquidity show that Joby is already generating sales and retaining significant capacity to fund its plans.

Next Steps

With mixed sentiment around risk and reward in the story so far, this is a good time to move quickly, review the data yourself, and then weigh the 1 key reward and 2 important warning signs.

Looking for more investment ideas?

If Joby’s story has sharpened your interest, do not stop here. Broaden your watchlist now so you do not miss other compelling setups taking shape.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.