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Why the Market Dipped But Rivian Automotive (RIVN) Gained Today
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Rivian Automotive (RIVN - Free Report) closed the most recent trading day at $15.29, moving +1.8% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.03% for the day. Meanwhile, the Dow experienced a drop of 0.31%, and the technology-dominated Nasdaq saw an increase of 0.01%.
Heading into today, shares of the a manufacturer of motor vehicles and passenger cars had lost 8.02% over the past month, lagging the Auto-Tires-Trucks sector's loss of 0.35% and the S&P 500's gain of 0.53%.
Analysts and investors alike will be keeping a close eye on the performance of Rivian Automotive in its upcoming earnings disclosure. 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%. Simultaneously, our latest consensus estimate expects the revenue to be $1.92 billion, showing a 23.27% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$2.25 per share and revenue of $7.29 billion. These totals would mark changes of +8.16% and +35.36%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Rivian Automotive. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Rivian Automotive currently has a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 48, positioning it in the top 20% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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Why the Market Dipped But Rivian Automotive (RIVN) Gained Today
Rivian Automotive (RIVN - Free Report) closed the most recent trading day at $15.29, moving +1.8% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.03% for the day. Meanwhile, the Dow experienced a drop of 0.31%, and the technology-dominated Nasdaq saw an increase of 0.01%.
Heading into today, shares of the a manufacturer of motor vehicles and passenger cars had lost 8.02% over the past month, lagging the Auto-Tires-Trucks sector's loss of 0.35% and the S&P 500's gain of 0.53%.
Analysts and investors alike will be keeping a close eye on the performance of Rivian Automotive in its upcoming earnings disclosure. 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%. Simultaneously, our latest consensus estimate expects the revenue to be $1.92 billion, showing a 23.27% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$2.25 per share and revenue of $7.29 billion. These totals would mark changes of +8.16% and +35.36%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Rivian Automotive. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Rivian Automotive currently has a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 48, positioning it in the top 20% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.