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Joby Aviation (JOBY) remains firmly in the spotlight on Sept. 18 after the eVTOL specialist announced a major technological milestone. In its press release, the company said a modified Cessna Caravan equipped with its autonomy suite completed a 3,199-mile flight across the U.S. without control inputs from an onboard safety pilot.
Note that JOBY shares have been in a sharp downtrend in 2026, currently trading at less than half their price at the start of this year.
Why the Autonomous Flight Matters for JOBY Stock
The 3,199-mile journey stretched from Buchanan Field Airport in Concord, California, to the Outer Banks of North Carolina, showcasing the platform's ability to navigate high-density airspace, high-altitude mountain terrain, and severe weather.
The flights were supervised remotely from Joby's autonomy headquarters in California and Shaw Air Force Base in South Carolina, demonstrating clear commercial freight, medical transport, and military applications.
Still, JOBY shares closed lower on Friday, reflecting investor caution regarding the long regulatory timeline for the FAA to approve fully uncrewed commercial operations.
Note that Barchart currently holds a “100 SELL” average opinion on Joby Aviation, indicating technical momentum is not in its favor for the near term.
Is Joby Aviation a Fine Long-Term Investment?
From a long-term perspective, Joby Aviation remains a pioneer in the eVTOL and regional autonomous flight sectors.
However, the NYSE-listed firm is rapidly burning cash to fund research, flight testing, and production scaling, as evidenced by its recent equity distribution programs.
Despite the year-to-date selloff, it’s trading at over 100x sales, which makes it an expensive name to own by any stretch of the imagination.
And it’s not like JOBY stock pays a dividend to incentivize ownership despite these risks either.
What’s the Consensus Rating on JOBY Shares?
Investors should note, however, that Wall Street analysts still expect Joby Aviation to rip materially higher from here through the remainder of 2026.
According to Barchart, while the consensus rating on JOBY stock sits at “Hold” only, the mean price target of about $10 indicates potential upside of nearly 70% from here.
