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Rivian Automotive (RIVN) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Rivian Automotive (RIVN - Free Report) closed at $19.71, marking a +1.6% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.05%. Elsewhere, the Dow gained 0.02%, while the tech-heavy Nasdaq added 9.7%.
Heading into today, shares of the a manufacturer of motor vehicles and passenger cars had gained 11.88% over the past month, lagging the Auto-Tires-Trucks sector's gain of 17.96% and outpacing the S&P 500's gain of 6.27% in that time.
Wall Street will be looking for positivity from Rivian Automotive as it approaches its next earnings report date. This is expected to be February 28, 2023. The company is expected to report EPS of -$1.88, up 22.63% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $710.8 million, up 1216.29% from the year-ago period.
Any recent changes to analyst estimates for Rivian Automotive should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.09% lower. Rivian Automotive is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 88, putting it in the top 35% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Rivian Automotive (RIVN) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Rivian Automotive (RIVN - Free Report) closed at $19.71, marking a +1.6% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.05%. Elsewhere, the Dow gained 0.02%, while the tech-heavy Nasdaq added 9.7%.
Heading into today, shares of the a manufacturer of motor vehicles and passenger cars had gained 11.88% over the past month, lagging the Auto-Tires-Trucks sector's gain of 17.96% and outpacing the S&P 500's gain of 6.27% in that time.
Wall Street will be looking for positivity from Rivian Automotive as it approaches its next earnings report date. This is expected to be February 28, 2023. The company is expected to report EPS of -$1.88, up 22.63% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $710.8 million, up 1216.29% from the year-ago period.
Any recent changes to analyst estimates for Rivian Automotive should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.09% lower. Rivian Automotive is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 88, putting it in the top 35% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.