The most recent trading session, Rivian Automotive (RIVN) closed at $13.15, representing a +1.94% increase from the previous trading day’s closing price. This change outpaced the S&P 500’s 1.7% rise on the day. Elsewhere, the Dow Jones Industrial Average rose 1.26%, while the tech-heavy Nasdaq rose 2.51%.
Shares of the auto and passenger vehicle maker fell 1.3% last month, lagging the Auto Tires & Trucks sector’s 2.47% rise and the S&P 500’s 1.27% rise.
Analysts and investors alike will be keeping an eye on Rivian Automotive’s performance in its upcoming earnings release. The company’s future EPS is projected to be -$0.90, which would represent an increase of 24.37% compared to the same period last year. Meanwhile, our current consensus estimate is projecting revenue of $1.1 billion, down 18.09% from the year-ago quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$4 per share and revenue of $4.77 billion, which would represent changes of +18.03% and +7.67%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Rivian Automotive. These revisions help illustrate the ever-changing nature of short-term business trends. As a result, the positive estimate changes indicate that analysts have a favorable outlook on the health and profitability of the company’s business.
Our research suggests that these estimate changes have a direct relationship with future stock performance. To benefit from this, we have created the Zacks Rank, a quantitative model that includes these estimate changes and presents an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). The company has a remarkable, outside-audited track record of success, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.39% higher within the past month. Rivian Automotive currently sports a Zacks Rank #3 (Hold).
The Automobiles – Domestic industry is part of the Automotive Tires – Trucks sector. This industry currently has a Zacks Industry Rank of 165, which puts it in the bottom 35% of all over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by calculating the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2:1.
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Rivian Automotive, Inc. (RIVN): Free Stock Analysis Report
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