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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 at $23.08 in the latest trading session, marking a +0.13% move from the prior day. This move lagged the S&P 500's daily gain of 0.59%. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, added 0.83%.
Prior to today's trading, shares of the a manufacturer of motor vehicles and passenger cars had gained 0.74% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 1.15% and outpaced the S&P 500's loss of 2.84% in that time.
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.
RIVN's full-year Zacks Consensus Estimates are calling for earnings of -$5.01 per share and revenue of $4.33 billion. These results would represent year-over-year changes of +20.98% and +161.32%, respectively.
Investors should also note any recent changes to analyst estimates for Rivian Automotive. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. 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 industry currently has a Zacks Industry Rank of 109, which puts it in the top 44% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Rivian Automotive (RIVN) Gains But Lags Market: What You Should Know
Rivian Automotive (RIVN - Free Report) closed at $23.08 in the latest trading session, marking a +0.13% move from the prior day. This move lagged the S&P 500's daily gain of 0.59%. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, added 0.83%.
Prior to today's trading, shares of the a manufacturer of motor vehicles and passenger cars had gained 0.74% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 1.15% and outpaced the S&P 500's loss of 2.84% in that time.
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.
RIVN's full-year Zacks Consensus Estimates are calling for earnings of -$5.01 per share and revenue of $4.33 billion. These results would represent year-over-year changes of +20.98% and +161.32%, respectively.
Investors should also note any recent changes to analyst estimates for Rivian Automotive. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. 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 industry currently has a Zacks Industry Rank of 109, which puts it in the top 44% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.