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Rivian Automotive (RIVN) Stock Sinks As Market Gains: Here's Why
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Rivian Automotive (RIVN - Free Report) closed at $14.99 in the latest trading session, marking a -2.66% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.17%. Elsewhere, the Dow saw a downswing of 0.18%, while the tech-heavy Nasdaq appreciated by 0.4%.
The a manufacturer of motor vehicles and passenger cars's stock has dropped by 3.81% in the past month, falling short of the Auto-Tires-Trucks sector's gain of 2.96% and the S&P 500's loss of 1.29%.
The investment community will be paying close attention to the earnings performance of Rivian Automotive in its upcoming release. In that report, analysts expect Rivian Automotive to post earnings of -$0.67 per share. This would mark year-over-year growth of 4.29%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.94 billion, indicating a 24.45% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$2.27 per share and revenue of $7.29 billion. These totals would mark changes of +7.35% and +35.31%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 remained unchanged. At present, Rivian Automotive boasts a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 47, putting it in the top 20% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
View the Zacks #1 Rank List
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Rivian Automotive (RIVN) Stock Sinks As Market Gains: Here's Why
Rivian Automotive (RIVN - Free Report) closed at $14.99 in the latest trading session, marking a -2.66% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.17%. Elsewhere, the Dow saw a downswing of 0.18%, while the tech-heavy Nasdaq appreciated by 0.4%.
The a manufacturer of motor vehicles and passenger cars's stock has dropped by 3.81% in the past month, falling short of the Auto-Tires-Trucks sector's gain of 2.96% and the S&P 500's loss of 1.29%.
The investment community will be paying close attention to the earnings performance of Rivian Automotive in its upcoming release. In that report, analysts expect Rivian Automotive to post earnings of -$0.67 per share. This would mark year-over-year growth of 4.29%. Meanwhile, the latest consensus estimate predicts the revenue to be $1.94 billion, indicating a 24.45% increase compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$2.27 per share and revenue of $7.29 billion. These totals would mark changes of +7.35% and +35.31%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 remained unchanged. At present, Rivian Automotive boasts a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 47, putting it in the top 20% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.