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Rivian Automotive (RIVN) Dips More Than Broader Markets: What You Should Know
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Rivian Automotive (RIVN - Free Report) closed at $19.02 in the latest trading session, marking a -0.31% move from the prior day. This move lagged the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq gained 1.58%.
Prior to today's trading, shares of the a manufacturer of motor vehicles and passenger cars had gained 5.71% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 18.85% and outpaced the S&P 500's gain of 0.84% 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 -$1.89 per share, which would represent year-over-year growth of 22.22%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $713.8 million, up 1221.84% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Rivian Automotive. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 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. Within the past 30 days, our consensus EPS projection has moved 5.01% 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 67, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Rivian Automotive (RIVN) Dips More Than Broader Markets: What You Should Know
Rivian Automotive (RIVN - Free Report) closed at $19.02 in the latest trading session, marking a -0.31% move from the prior day. This move lagged the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq gained 1.58%.
Prior to today's trading, shares of the a manufacturer of motor vehicles and passenger cars had gained 5.71% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 18.85% and outpaced the S&P 500's gain of 0.84% 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 -$1.89 per share, which would represent year-over-year growth of 22.22%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $713.8 million, up 1221.84% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Rivian Automotive. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 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. Within the past 30 days, our consensus EPS projection has moved 5.01% 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 67, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.