Cantor Fitzgerald Downgrades Joby Aviation (JOBY) Stock

Joby Aviation, Inc. (NYSE:JOBY) is one of the stocks that made it to our list of top 10 newsworthy upgrades and downgrades. On June 12, Cantor Fitzgerald downgraded the company’s stock to “Neutral” from “Overweight” with a price objective of $9, as reported by The Fly. This downgrade comes after the recent share price rally and a lack of upside potential over the near term. Over the past month, the company’s stock has seen a run-up of ~29%. However, the firm still believes that Joby Aviation, Inc. (NYSE:JOBY) is one of the best-positioned companies in the eVTOL sector.

A futuristic electric vertical takeoff and landing aircraft soaring through the sky.

As per the firm, Joby Aviation, Inc. (NYSE:JOBY)’s valuation now looks stretched, and it doesn’t see current levels as a good entry point. Furthermore, while the firm believes that Joby Aviation, Inc. (NYSE:JOBY) has the strongest liquidity position, it also opines that the company has the highest cash burn in the broader industry. The company’s operating expenses in Q1 2025 amounted to $163.3 million and reflected costs to support its certification and manufacturing of the aircraft. Joby Aviation, Inc. (NYSE:JOBY) ended Q1 2025 with $813 million in cash and short-term investments. It excludes the additional $500 million commitment from Toyota.

Joby Aviation, Inc. (NYSE:JOBY) is a vertically integrated air mobility company.

While we acknowledge the potential of JOBY to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk.  If you are looking for an AI stock that is more promising than JOBY and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.