JOBY Saudi Arabia Bound: Is the Growth Thesis Strengthening?

Joby Aviation JOBY, a developer of electric air taxis for commercial passenger use, announced that it has signed a memorandum of understanding with Red Sea Global (“RSG”) and The Helicopter Company (“THC”). The agreement includes plans for Joby to conduct pre-commercial evaluation flights of its electric air taxi in Saudi Arabia during the first half of 2026.Under the partnership, Joby will collaborate with RSG — the developer of the Red Sea and AMAALA regenerative tourism destinations — and THC, a Public Investment Fund company and Saudi Arabia’s leading commercial helicopter operator, to set up a “sandbox” for pre-commercial testing. This environment will support the assessment of future air taxi operations in the region, with Joby conducting representative flights that incorporate charging operations, airspace integration and ground communications, similar to the demonstrations completed earlier in the UAE.This new collaboration follows Joby’s recent announcement that it will work with the General Authority of Civil Aviation to help develop Saudi Arabia’s air taxi regulatory framework, utilizing Federal Aviation Administration certification standards.Joby is also expanding its presence across the Middle East and Central Asia. In September, the company announced a long-term agreement with the Ras Al Khaimah Transport Authority and Skyports Infrastructure to establish a passenger air taxi network in Ras Al Khaimah by 2027. Joby also plans to begin air taxi operations in Dubai in 2026 under a six-year exclusive arrangement. Additionally, in November, the company signed a letter of intent to supply aircraft and services worth up to $250 million to Alatau Advance Air Group, which aims to deploy air taxis in Kazakhstan.Last month, Joby inked a groundbreaking collaboration with NVIDIA NVDA to become the exclusive aviation launch partner for the newly introduced NVIDIA IGX Thor platform. Built on the powerful NVIDIA Blackwell architecture, this industrial-grade system is designed to drive the next generation of physical AI applications. The partnership with a powerhouse like NVIDIA will accelerate the development of Joby’s Superpilot autonomous flight technology across defense and commercial platforms.Joby’s Price, Valuation & Earnings EstimatesShares of Joby have gained in triple digits over the past six months, just outperforming the Zacks Transportation - Airline industry and its rival Archer Aviation ACHR, in the electric vertical takeoff and landing space.6-Month Price ComparisonImage Source: Zacks Investment ResearchFrom a valuation perspective, Joby is trading at a premium compared with Archer Aviation. However, both Joby and Archer Aviation have a Value Score of F.Image Source: Zacks Investment ResearchThe Zacks Consensus Estimate for JOBY’s third-quarter, fourth-quarter, full-year 2025 and 2026 losses have widened over the past 60 days.Image Source: Zacks Investment ResearchJOBY’s Zacks RankJOBY currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NVIDIA Corporation (NVDA): Free Stock Analysis Report Joby Aviation, Inc. (JOBY): Free Stock Analysis Report Archer Aviation Inc. (ACHR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks