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Rivian Automotive (RIVN) Gains But Lags Market: What You Should Know
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Rivian Automotive (RIVN - Free Report) closed the most recent trading day at $18.92, moving +0.37% from the previous trading session. This change lagged the S&P 500's 1.15% gain on the day. At the same time, the Dow added 1.11%, and the tech-heavy Nasdaq gained 11.35%.
Prior to today's trading, shares of the a manufacturer of motor vehicles and passenger cars had gained 14.59% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 23.52% and outpaced the S&P 500's gain of 4.49% in that time.
Rivian Automotive will be looking to display strength as it nears its next earnings release, which is expected to be February 28, 2023. On that day, Rivian Automotive is projected to report earnings of -$1.88 per share, which would represent year-over-year growth of 22.63%. Meanwhile, our latest consensus estimate is calling for revenue of $713.8 million, up 1221.84% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Rivian Automotive. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 1.22% lower. Rivian Automotive is currently a Zacks Rank #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring 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 to 1.
To follow RIVN in the coming trading sessions, be sure to utilize Zacks.com.
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Rivian Automotive (RIVN) Gains But Lags Market: What You Should Know
Rivian Automotive (RIVN - Free Report) closed the most recent trading day at $18.92, moving +0.37% from the previous trading session. This change lagged the S&P 500's 1.15% gain on the day. At the same time, the Dow added 1.11%, and the tech-heavy Nasdaq gained 11.35%.
Prior to today's trading, shares of the a manufacturer of motor vehicles and passenger cars had gained 14.59% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 23.52% and outpaced the S&P 500's gain of 4.49% in that time.
Rivian Automotive will be looking to display strength as it nears its next earnings release, which is expected to be February 28, 2023. On that day, Rivian Automotive is projected to report earnings of -$1.88 per share, which would represent year-over-year growth of 22.63%. Meanwhile, our latest consensus estimate is calling for revenue of $713.8 million, up 1221.84% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Rivian Automotive. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Within the past 30 days, our consensus EPS projection has moved 1.22% lower. Rivian Automotive is currently a Zacks Rank #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring 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 to 1.
To follow RIVN in the coming trading sessions, be sure to utilize Zacks.com.