Stocks to buy

3 Flying Car Stocks That Could Be Multibaggers in the Making: February Edition

There are a few flying car stocks on the market today I believe could lead to substantial gains for investors. These companies are known for high growth potential as well as relatively low valuations for what investors get for their money. Although these companies are in the very early stages of development and are risky, taking such a risk may be worth it for those who can stomach the ups and downs.

I feel the flying car stocks discussed in this article are some of the best options on the market today for people who want solid options to add to their growth portfolio. Having at least some exposure (through fractional shares at the minimum) could be a prudent decision.

So here are three flying car stocks for investors to buy for February.

Joby Aviation (JOBY)

Source: Iljanaresvara Studio / Shutterstock.com

Joby Aviation (NYSE:JOBY) made sector-leading progress in FAA certification last year with the FAA accepting its propulsion system certification plan. That marks a critical step towards receiving type certification for its aircraft.

The future also looks accretive for investors. JOBY is working towards a targeted commercial launch in 2025, forging partnerships for infrastructure development, including a notable partnership with Japan. The company has also conducted air traffic simulations with NASA’s Ames Research Center.

Despite reporting no earnings in the latest quarter, JOBY beat expectations by 18 cents and ended the year with $1.1 billion in cash. It’s also in a very solid position with a management cash burn and just $29.99 million of total debt, bringing its working capital to $1.09 billion.

If you ask any investor who has been watching the flying car industry unfold, JOBY is inevitably one of those flying car stocks they’ll mention as one on their watchlist. It’s certainly one to consider for potentially multi-bagger returns.

EHang (EH)

Source: CNN

EHang (NASDAQ:EH) stands out in the eVTOL space, especially within China, showcasing impressive trial flights and a focus on the tourism sector. Like other flying car stocks, it may take some time for EHang to get its business off the ground, but its near-term projections are looking impressive.

The company plans to initiate deliveries into international markets in early 2025, with a sales pipeline of 210 units primarily composed of EH 216-S models. The company expects these international sales to achieve a higher average price compared to the Chinese domestic market.

For the fourth quarter and fiscal year of 2023, EHang anticipates a significant increase in revenues. The company expects total revenues for Q4 2023 to reach approximately RMB 56 million, marking a 257% year-over-year increase and a 96% quarter-over-quarter increase.

One analyst set a price target of $30.50 for EH’s shares, suggesting a potential upside of 189%. That would make it one of those multi-baggers that some investors crave. The consensus among analysts is that it’s a Buy.

Archer Aviation (ACHR)

Source: T. Schneider / Shutterstock.com

Archer Aviation (NYSE:ACHR) is developing its footprint in the urban air mobility sector, underpinned by strategic partnerships.

ACHR is known for its Midnight aircraft, designed for urban air mobility. It can carry four passengers plus a pilot and is optimized for short 20-mile trips with a quick charging time of approximately 10 minutes.

The company has also been making some rapid progress in its development. In 2023, Archer’s Midnight aircraft completed Phase 1 of its flight test program in just three months, showcasing rapid progress toward FAA certification. The company upgraded Midnight’s battery system, marking a significant step towards production readiness.

Archer has been trading at around $5.24 per share recently, with a notable decrease from its position at the beginning of the year. The company is expected to release its next quarterly earnings on February 29. Analysts have issued a consensus Buy rating for ACHR, with a price target range from $8.00 to $12.00, suggesting a potential upside of approximately 129% from the current stock price.

On the date of publication, Matthew Farley did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.

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