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Rivian Automotive (RIVN) Laps the Stock Market: Here's Why
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In the latest market close, Rivian Automotive (RIVN - Free Report) reached $15.53, with a +1.44% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily gain of 1.25%. Elsewhere, the Dow gained 0.97%, while the tech-heavy Nasdaq added 1.3%.
The a manufacturer of motor vehicles and passenger cars's shares have seen a decrease of 24.66% over the last month, not keeping up with the Auto-Tires-Trucks sector's loss of 11.14% and the S&P 500's gain of 1.58%.
The upcoming earnings release of Rivian Automotive will be of great interest to investors. The company's earnings report is expected on February 21, 2024. The company's upcoming EPS is projected at -$1.39, signifying a 19.65% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $1.29 billion, showing a 94.13% escalation compared to the year-ago quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.3% decrease. Right now, Rivian Automotive possesses 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 158, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Rivian Automotive (RIVN) Laps the Stock Market: Here's Why
In the latest market close, Rivian Automotive (RIVN - Free Report) reached $15.53, with a +1.44% movement compared to the previous day. The stock's performance was ahead of the S&P 500's daily gain of 1.25%. Elsewhere, the Dow gained 0.97%, while the tech-heavy Nasdaq added 1.3%.
The a manufacturer of motor vehicles and passenger cars's shares have seen a decrease of 24.66% over the last month, not keeping up with the Auto-Tires-Trucks sector's loss of 11.14% and the S&P 500's gain of 1.58%.
The upcoming earnings release of Rivian Automotive will be of great interest to investors. The company's earnings report is expected on February 21, 2024. The company's upcoming EPS is projected at -$1.39, signifying a 19.65% increase compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $1.29 billion, showing a 94.13% escalation compared to the year-ago quarter.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.3% decrease. Right now, Rivian Automotive possesses 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 158, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.