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Rivian Automotive (RIVN) Rises Higher Than Market: Key Facts
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The most recent trading session ended with Rivian Automotive (RIVN - Free Report) standing at $10.63, reflecting a +1.82% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.15%. Meanwhile, the Dow experienced a drop of 0.02%, and the technology-dominated Nasdaq saw an increase of 0.32%.
Shares of the a manufacturer of motor vehicles and passenger cars witnessed a loss of 17.73% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its gain of 0.39% and the S&P 500's gain of 1.65%.
Market participants will be closely following the financial results of Rivian Automotive in its upcoming release. The company plans to announce its earnings on May 7, 2024. The company is forecasted to report an EPS of -$1.13, showcasing a 9.6% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $1.1 billion, indicating a 66.59% growth compared to the corresponding quarter of the prior year.
RIVN's full-year Zacks Consensus Estimates are calling for earnings of -$3.95 per share and revenue of $4.73 billion. These results would represent year-over-year changes of +19.06% and +6.71%, respectively.
Any recent changes to analyst estimates for Rivian Automotive should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.28% downward. Rivian Automotive presently features a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 93, finds itself in the top 37% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Rivian Automotive (RIVN) Rises Higher Than Market: Key Facts
The most recent trading session ended with Rivian Automotive (RIVN - Free Report) standing at $10.63, reflecting a +1.82% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.15%. Meanwhile, the Dow experienced a drop of 0.02%, and the technology-dominated Nasdaq saw an increase of 0.32%.
Shares of the a manufacturer of motor vehicles and passenger cars witnessed a loss of 17.73% over the previous month, trailing the performance of the Auto-Tires-Trucks sector with its gain of 0.39% and the S&P 500's gain of 1.65%.
Market participants will be closely following the financial results of Rivian Automotive in its upcoming release. The company plans to announce its earnings on May 7, 2024. The company is forecasted to report an EPS of -$1.13, showcasing a 9.6% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $1.1 billion, indicating a 66.59% growth compared to the corresponding quarter of the prior year.
RIVN's full-year Zacks Consensus Estimates are calling for earnings of -$3.95 per share and revenue of $4.73 billion. These results would represent year-over-year changes of +19.06% and +6.71%, respectively.
Any recent changes to analyst estimates for Rivian Automotive should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.28% downward. Rivian Automotive presently features a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry, currently bearing a Zacks Industry Rank of 93, finds itself in the top 37% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.