We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Rivian Automotive (RIVN) Outpaces Stock Market Gains: What You Should Know
Read MoreHide Full Article
In the latest trading session, Rivian Automotive (RIVN - Free Report) closed at $14.38, marking a +1.34% move from the previous day. This change outpaced the S&P 500's 1.33% gain on the day. Meanwhile, the Dow gained 1.14%, and the Nasdaq, a tech-heavy index, added 2.94%.
Prior to today's trading, shares of the a manufacturer of motor vehicles and passenger cars had gained 8.9% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 12.77% and outpaced the S&P 500's gain of 6.11% in that time.
Investors will be hoping for strength from Rivian Automotive as it approaches its next earnings release, which is expected to be May 9, 2023. On that day, Rivian Automotive is projected to report earnings of -$1.49 per share, which would represent a year-over-year decline of 4.2%. Meanwhile, our latest consensus estimate is calling for revenue of $718.35 million, up 656.16% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$5.52 per share and revenue of $4.53 billion. These totals would mark changes of +12.93% and +172.93%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Rivian Automotive. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 108, which puts it in the top 43% 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.
To follow RIVN in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Rivian Automotive (RIVN) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Rivian Automotive (RIVN - Free Report) closed at $14.38, marking a +1.34% move from the previous day. This change outpaced the S&P 500's 1.33% gain on the day. Meanwhile, the Dow gained 1.14%, and the Nasdaq, a tech-heavy index, added 2.94%.
Prior to today's trading, shares of the a manufacturer of motor vehicles and passenger cars had gained 8.9% over the past month. This has lagged the Auto-Tires-Trucks sector's gain of 12.77% and outpaced the S&P 500's gain of 6.11% in that time.
Investors will be hoping for strength from Rivian Automotive as it approaches its next earnings release, which is expected to be May 9, 2023. On that day, Rivian Automotive is projected to report earnings of -$1.49 per share, which would represent a year-over-year decline of 4.2%. Meanwhile, our latest consensus estimate is calling for revenue of $718.35 million, up 656.16% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$5.52 per share and revenue of $4.53 billion. These totals would mark changes of +12.93% and +172.93%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Rivian Automotive. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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. The Zacks Consensus EPS estimate remained stagnant within the past month. 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 108, which puts it in the top 43% 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.
To follow RIVN in the coming trading sessions, be sure to utilize Zacks.com.