Rivian Automotive (RIVN - Free Report) closed the most recent trading day at $18.05, moving -0.28% from the previous trading session. This move lagged the S&P 500's daily loss of 0.07%. At the same time, the Dow added 0.31%, and the tech-heavy Nasdaq lost 3.22%.
Prior to today's trading, shares of the a manufacturer of motor vehicles and passenger cars had lost 5.43% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 7.98% and the S&P 500's gain of 4.64% 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. In that report, analysts expect Rivian Automotive to post earnings of -$1.72 per share. This would mark year-over-year growth of 29.22%. Our most recent consensus estimate is calling for quarterly revenue of $771.22 million, up 1328.19% from the year-ago period.
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 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.09% lower. 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 208, which puts it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Rivian Automotive (RIVN - Free Report) closed the most recent trading day at $18.05, moving -0.28% from the previous trading session. This move lagged the S&P 500's daily loss of 0.07%. At the same time, the Dow added 0.31%, and the tech-heavy Nasdaq lost 3.22%.
Prior to today's trading, shares of the a manufacturer of motor vehicles and passenger cars had lost 5.43% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 7.98% and the S&P 500's gain of 4.64% 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. In that report, analysts expect Rivian Automotive to post earnings of -$1.72 per share. This would mark year-over-year growth of 29.22%. Our most recent consensus estimate is calling for quarterly revenue of $771.22 million, up 1328.19% from the year-ago period.
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 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.09% lower. 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 208, which puts it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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