Joby Aviation, Inc. (NYSE:JOBY) shares pulled back after last week's momentum following the company's completion of the first-ever point-to-point electric air taxi flights in New York City and CEO JoeBen Bevirt ringing the NYSE opening bell on April 28.

Certification Timeline Remains Key Focus

Despite the visibility these events provide, the certification timeline remains the key metric for investors.

Joby continues to progress through the final FAA type certification stages, backed by significant R&D investment and an $8.3 billion market cap.

Forbes reported that Joby has moved through stage 4 of the FAA type certification process, leaving the company in its final stretch of credit validation and flight testing.

The same report framed the "certification timeline" as the key yardstick CEO JoeBen Bevirt uses to set expectations, arguing it can matter more to valuation than near-term spending metrics.

Operational Milestones And Commercial Readiness

Recent milestones support that outlook. In 2026, Joby completed the first-ever point-to-point electric air taxi flights in New York City, transporting passengers between JFK Airport and Manhattan in under 10 minutes as part of its Electric Skies Tour.

The company highlighted zero operating emissions and reduced noise during the flights, with support from the NYC Economic Development Corporation to integrate into existing heliport networks.

Joby was also selected for the White House-backed eVTOL Integration Pilot Program, targeting commercial operations as early as 2026.

Joby Aviation Short Interest Declines

Short interest in Joby Aviation fell from 86.68 million to 82.21 million shares, representing 12.54% of the float.

Based on the average daily volume of 20.74 million shares, it would take about 3.96 days for short sellers to cover their positions.

JOBY Technical Analysis: Trend, RSI And Key Levels

The stock is trading within its 52-week range, closer to the lower end between $6.14 and $20.95. Shares are 2.7% below the 20-day simple moving average, signaling near-term weakness.

The stock is also 8.3% below the 50-day SMA, indicating a bearish short-term trend.

The relative strength index (RSI) is at 50.09, suggesting a neutral momentum, while the moving average convergence divergence (MACD) is above its signal line, indicating a potential bullish momentum shift.

  • Key Resistance: $9.00 — This level may act as a barrier for upward movement.
  • Key Support: $8.00 — A critical level where buying interest may emerge.

JOBY Earnings Preview And Analyst Price Targets

Joby Aviation is set to report earnings on May 5, 2026 (confirmed).

  • EPS Estimate: Loss of 21 cents (Down from Loss of 11 cents)
  • Revenue Estimate: $19.95 million

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $12.50. Recent analyst moves include:

  • Needham: Buy (Maintains Target to $18.00) (April 28)
  • JP Morgan: Underweight (Lowers Target to $7.00) (February 26)
  • Needham: Buy (Lowers Target to $18.00) (February 26)

JOBY Price Action: Joby Aviation shares were down 3.81% at $8.59 at the time of publication on Wednesday, according to Benzinga Pro data.

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