Joby Aviation (JOBY) stock pushed higher on Wednesday after the electric air taxi firm announced additional funding from the U.S. Air Force, expanding the military’s commitment to its autonomous flight technologies to nearly $37 million.
The latest awards were made through AFWERX — the innovation arm supporting U.S. Air Force programs. They will also increase the ceiling of JOBY’s operational testing contract to $50 million and will support autonomy software integration as well as expanded operational testing activities in the Pacific region.
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Despite today’s surge, Joby shares are trading at less than half their price at the start of 2026.
www.barchart.comWhat the New Air Force Funding Means for Joby Stock
The expanded collaboration follows JOBY’s recently completed autonomous cross-country tour, during which its aircraft traveled 6,665 miles across the United States.
The company said its flight campaign covered operations in 24 states and showcased autonomous capabilities with no control inputs required from the onboard safety pilot during flight operations.
Investors are cheering JOBY shares today primarily because government-backed contracts provide more than just funding.
They help validate the company’s technology — potentially opening the door to additional defense opportunities while strengthening confidence in its broader autonomous aviation roadmap.
What Else Makes JOBY Shares Attractive to Own?
JOBY remains one of the most advanced players in the fast-growing electric vertical take-off and landing (eVTOL) industry.
It’s a compelling buy for long-term investors because of a diversified growth strategy. In addition to pursuing commercial passenger air taxi services, the company has developed relationships with government customers that generate revenue today.
Later today, the NYSE-listed firm is expected to record nearly $39 million in revenue for its fiscal Q3, up a rather exciting 72% on a year-over-year basis.
Meanwhile, the planned acquisition of Resonant Sciences is expected to bolster JOBY’s autonomy capabilities, which makes its stock even more attractive heading into 2027.
What’s the Consensus Rating on Joby Aviation?
Wall Street analysts seem to believe the recent pullback in JOBY stock has gone a bit too far.
While the consensus rating on Joby Aviation remains at “Hold” only, the mean price target of about $9.30 suggests massive upside potential from current levels.
www.barchart.com On the date of publication, Wajeeh Khan did not directly have a position in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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