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Rivian Automotive (RIVN) Gains As Market Dips: What You Should Know
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Rivian Automotive (RIVN - Free Report) closed the most recent trading day at $24.18, moving +0.29% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.22%. Elsewhere, the Dow lost 0.83%, while the tech-heavy Nasdaq lost 1.56%.
Coming into today, shares of the a manufacturer of motor vehicles and passenger cars had gained 15.08% in the past month. In that same time, the Auto-Tires-Trucks sector gained 8.24%, while the S&P 500 gained 0.54%.
Wall Street will be looking for positivity from Rivian Automotive as it approaches its next earnings report date. On that day, Rivian Automotive is projected to report earnings of -$1.38 per share, which would represent year-over-year growth of 12.1%. Meanwhile, our latest consensus estimate is calling for revenue of $1.29 billion, up 140.03% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$5.01 per share and revenue of $4.33 billion, which would represent changes of +20.98% and +161.32%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Rivian Automotive currently has a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 35% 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.
To follow RIVN in the coming trading sessions, be sure to utilize Zacks.com.
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Rivian Automotive (RIVN) Gains As Market Dips: What You Should Know
Rivian Automotive (RIVN - Free Report) closed the most recent trading day at $24.18, moving +0.29% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.22%. Elsewhere, the Dow lost 0.83%, while the tech-heavy Nasdaq lost 1.56%.
Coming into today, shares of the a manufacturer of motor vehicles and passenger cars had gained 15.08% in the past month. In that same time, the Auto-Tires-Trucks sector gained 8.24%, while the S&P 500 gained 0.54%.
Wall Street will be looking for positivity from Rivian Automotive as it approaches its next earnings report date. On that day, Rivian Automotive is projected to report earnings of -$1.38 per share, which would represent year-over-year growth of 12.1%. Meanwhile, our latest consensus estimate is calling for revenue of $1.29 billion, up 140.03% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$5.01 per share and revenue of $4.33 billion, which would represent changes of +20.98% and +161.32%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Rivian Automotive currently has a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 35% 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.
To follow RIVN in the coming trading sessions, be sure to utilize Zacks.com.