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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 at $34.81 in the latest trading session, marking a +1.49% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.28%. At the same time, the Dow lost 0.14%, and the tech-heavy Nasdaq lost 0.14%.
Prior to today's trading, shares of the a manufacturer of motor vehicles and passenger cars had gained 33.46% over the past month. This has outpaced the Auto-Tires-Trucks sector's gain of 15.86% and the S&P 500's gain of 8.35% in that time.
Wall Street will be looking for positivity from Rivian Automotive as it approaches its next earnings report date. This is expected to be August 11, 2022.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$6.39 per share and revenue of $1.76 billion, which would represent changes of +56.77% and +3105%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 0.04% higher. Rivian Automotive is currently a Zacks Rank #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 65, which puts it in the top 26% 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 As Market Dips: What You Should Know
Rivian Automotive (RIVN - Free Report) closed at $34.81 in the latest trading session, marking a +1.49% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.28%. At the same time, the Dow lost 0.14%, and the tech-heavy Nasdaq lost 0.14%.
Prior to today's trading, shares of the a manufacturer of motor vehicles and passenger cars had gained 33.46% over the past month. This has outpaced the Auto-Tires-Trucks sector's gain of 15.86% and the S&P 500's gain of 8.35% in that time.
Wall Street will be looking for positivity from Rivian Automotive as it approaches its next earnings report date. This is expected to be August 11, 2022.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$6.39 per share and revenue of $1.76 billion, which would represent changes of +56.77% and +3105%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. Within the past 30 days, our consensus EPS projection has moved 0.04% higher. Rivian Automotive is currently a Zacks Rank #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 65, which puts it in the top 26% 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.