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Rivian Automotive (RIVN) Outpaces Stock Market Gains: What You Should Know
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Rivian Automotive (RIVN - Free Report) closed the most recent trading day at $31.99, moving +0.79% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.48%. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, added 0.19%.
Prior to today's trading, shares of the a manufacturer of motor vehicles and passenger cars had lost 31.79% over the past month. This has lagged the Auto-Tires-Trucks sector's loss of 13.67% and the S&P 500's loss of 8.48% in that time.
Investors will be hoping for strength from Rivian Automotive as it approaches its next earnings release, which is expected to be May 11, 2022.
RIVN's full-year Zacks Consensus Estimates are calling for earnings of -$6.37 per share and revenue of $1.87 billion. These results would represent year-over-year changes of +56.9% and +3293%, respectively.
Any recent changes to analyst estimates for Rivian Automotive should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.99% lower. Rivian Automotive currently has a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 157, putting it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Rivian Automotive (RIVN) Outpaces Stock Market Gains: What You Should Know
Rivian Automotive (RIVN - Free Report) closed the most recent trading day at $31.99, moving +0.79% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.48%. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, added 0.19%.
Prior to today's trading, shares of the a manufacturer of motor vehicles and passenger cars had lost 31.79% over the past month. This has lagged the Auto-Tires-Trucks sector's loss of 13.67% and the S&P 500's loss of 8.48% in that time.
Investors will be hoping for strength from Rivian Automotive as it approaches its next earnings release, which is expected to be May 11, 2022.
RIVN's full-year Zacks Consensus Estimates are calling for earnings of -$6.37 per share and revenue of $1.87 billion. These results would represent year-over-year changes of +56.9% and +3293%, respectively.
Any recent changes to analyst estimates for Rivian Automotive should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.99% lower. Rivian Automotive currently has a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 157, putting it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.