Joby Aviation (NYSE:JOBY) shares are up on Wednesday as the company is launching Uber Air powered by Joby. It is a significant step in their partnership with Uber Technologies, Inc. (NYSE:UBER).
This development comes as the broader market experienced positive momentum, with major indices like the S&P 500 and Nasdaq showing gains.
Joby announced that it expects to carry its first passengers later this year in Dubai, marking a pivotal milestone in their collaboration with Uber.
This partnership aims to integrate Joby’s all-electric air taxi service into the Uber app, enhancing urban mobility and convenience for riders.
The initiative reflects a long-term vision for urban air mobility, with Joby and Uber working together since 2019 to develop this innovative transportation solution.
Joby has also acquired Uber’s Elevate division, which has been instrumental in shaping the urban air mobility sector and its operational frameworks.
“We set out to build a new layer of urban transportation,” said Eric Allison, Chief Product Officer at Joby. “By partnering with Uber, we’re making this new mode of transportation familiar and accessible, connecting the ground and the sky through a system designed to save people time and fit seamlessly into how they already move.”
Meanwhile, the broader market experienced gains on the previous trading day, with the S&P 500 rising by 0.38% and the Technology sector gaining 0.68%.
Joby’s upward movement aligns with this positive trend, suggesting that the stock is benefiting from the overall market sentiment.
Technical Analysis
The stock is currently trading 6.5% above its 20-day simple moving average (SMA) and 9.2% below its 100-day SMA, indicating some short-term strength but potential longer-term challenges. Shares have increased 12.3% over the past 12 months and are currently positioned closer to their 52-week highs than lows.
The RSI is at 50.00, which is considered neutral territory, indicating that the stock is neither overbought nor oversold. Meanwhile, MACD is at 0.10, below its signal line at 0.15, suggesting bearish pressure on the stock.
The combination of neutral RSI and bearish MACD suggests mixed momentum.
- Key Resistance: $12.00
- Key Support: $9.00
JOBY Analyst Outlook
JOBY Analyst Consensus & Recent Actions: The stock carries a Hold Rating with an average price target of $12.50. Recent analyst moves include:
- Goldman Sachs: Initiated with Sell (Target $10.00) (Dec. 1, 2025)
- Needham: Buy (Maintains Target to $22.00) (Nov. 6, 2025)
- JP Morgan: Underweight (Raises Target to $8.00) (Oct. 31, 2025)
Price Action: Uber Technologies shares were up 1.85% at $72.70 and Joby Aviation shares were up 1.23% at $9.83 at the time of publication on Wednesday, according to Benzinga Pro data.
Photo by T. Schneider via Shutterstock
