Flying taxis could come to a city near you in the next few years, and Joby Aviation is one company leading the charge.

The eVTOL sector continues to rally as investors eye the FAA approvals needed by the major players to begin operations in the U.S. Needham analyst Chris Pierce noted that the FAA has signaled the long-term importance of the air taxi space within the U.

Joby and Archer stocks surged after Needham's Buy ratings and forecasts. Learn why investors may need patience for these bullish projections to materialize.

Those who believed that this innovative company would skyrocket into the stratosphere have been sorely disappointed so far.