Is This Flying Car Stock a Buy, Sell, or Hold in May 2025?

Joby Aviation (JOBY), like its electric vertical takeoff and landing (eVTOL) peers, surged in recent years on hopes that flying cars could soon become mainstream. 

But long regulatory timelines, valuation concerns, and macroeconomic unease brought JOBY and other eVTOL stocks back down to the ground in 2025. Although shares are still up more than 40% over the past 52 weeks, they are down 11% in the year to date and are more than 40% off their all-time highs. The average analyst rating on shares has also slightly deteriorated over the last three months. One major concern was that new tariffs under President Donald Trump could raise auto and aerospace costs dramatically from $8 billion annually to $109 billion. This would have inevitably put a strain on Joby’s balance sheet. 

The story could be changing, however. The U.S. and China have agreed to a 90-day pause on most tariffs, and JOBY stock is up 13% over the past five sessions. Could Joby Aviation be ready to take flight again soon? 

A Closer Look at Joby’s Q1 Earnings

As the flying car company is still in the development phase, it did not report any revenue for the first quarter. However, it did report a narrowing of its net loss to $82.4 million in Q1 from $94.6 million in the year-ago period. This translates to a loss per share of $0.11, improved year-over-year from a loss per share of $0.14. 

The company did report an uptick in its operating expenses, driven by an increase in research and development costs to $134 million from $115 million. This makes sense, as during the quarter the company reached new milestones during test flights and completed multiple piloted test flights. 

The company says that it is also getting closer to finishing the certification process through the Federal Aviation Administration, with the FAA side of the process now 43% complete. 

Other notable achievements in the first quarter included a partnership with Virgin Atlantic, and achieving a cash balance of $813 million. Joby noted that it also has an additional $500 million commitment from Toyota (TM). 

What Do Analysts Expect for Joby Stock?

Currently, the stock holds an overall rating of “Hold.” Out of nine covering the stock, three advocate a “Strong Buy,” one leans toward a “Moderate Buy,” three sit on the fence with a “Hold” while two advise “Strong Sell.”

The average price target of $7.75 is slightly above its current trading price, while the Street-high target of $12 suggests that the stock can climb as much as 70% from the current price level.