As Joby Aviation Hits a New 52-Week High, Jim Cramer Says He Won’t ‘Fight’ the Rally

Famed investor Jim Cramer says he “won’t fight” the momentum in Joby Aviation (JOBY) shares. 

In recent episode of “Mad Money,” the former hedge fund manager reiterated his positive take on JOBY shares from last month when he told a caller “Joby is real … Joby is okay. I’m going with it.”

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Cramer’s commentary is particularly significant for Joby Aviation stock as it has already rallied more than 100% over the past three months. 

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Is Joby Aviation Stock More Hype Than Substance?

Jim Cramer’s endorsement is meaningful for JOBY shares because of two big reasons. 

First, since he’s a widely followed market commentator, his support could help boost investor confidence and attract retail momentum. 

Second, the “Mad Money” host said he “won’t fight” the strength in Joby Aviation and reaffirmed his belief that “Joby is real” – which signals the recent rally is backed by legitimate progress rather than hype. 

Cramer’s remarks arrive only days after JOBY said it has successfully completed a series of piloted tests, including full transition flights, in Dubai. 

HCW Analyst Agress With Cramer on JOBY Shares

Cramer’s optimism is shared by an H.C. Wainwright analyst, Amit Dayal, who recently reiterated his “Buy” rating on Joby Aviation stock with a price target of $13. 

While the former hedge fund manager is evidently “going with” the eVTOL firm and Dayal sees another 12% upside in it – investors should practice caution as it’s currently going for about 10x its book value per share. 

That translates to a notable premium compared to a price-book ratio of less than 6x tied to rival Archer Aviation (ACHR) at the time of writing. 

JOBY has plans of expanding its production capacity in partnership with Toyota (TM) – but the current valuation suggests much of the related upside may already be baked in.  

Wall Street Currently Sees Joby Aviation as Overvalued 

JOBY stock may only be a speculative investment at best for the second half of 2025 also because Wall Street currently rates it at “Hold” only. 

According to Barchart, the mean target on Joby Aviation shares currently sits at $8.25, indicating potential downside of roughly 30% from here. 

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On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions 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.