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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 $14.76 in the latest trading session, marking a -1.2% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.2%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq added 0.04%.
Shares of the a manufacturer of motor vehicles and passenger cars witnessed a loss of 4.29% over the previous month, beating the performance of the Auto-Tires-Trucks sector with its loss of 5.54%, and underperforming the S&P 500's loss of 0.35%.
Analysts and investors alike will be keeping a close eye on the performance of Rivian Automotive in its upcoming earnings disclosure. The company is expected to report EPS of -$0.67, up 4.29% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $1.92 billion, reflecting a 23.27% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$2.25 per share and a revenue of $7.29 billion, signifying shifts of +8.16% and +35.36%, respectively, from the 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. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Rivian Automotive possesses a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 46, placing it within the top 19% of over 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.
To follow RIVN in the coming trading sessions, be sure to utilize Zacks.com.
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 $14.76 in the latest trading session, marking a -1.2% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.2%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq added 0.04%.
Shares of the a manufacturer of motor vehicles and passenger cars witnessed a loss of 4.29% over the previous month, beating the performance of the Auto-Tires-Trucks sector with its loss of 5.54%, and underperforming the S&P 500's loss of 0.35%.
Analysts and investors alike will be keeping a close eye on the performance of Rivian Automotive in its upcoming earnings disclosure. The company is expected to report EPS of -$0.67, up 4.29% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $1.92 billion, reflecting a 23.27% rise from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$2.25 per share and a revenue of $7.29 billion, signifying shifts of +8.16% and +35.36%, respectively, from the 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. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Rivian Automotive possesses a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. At present, this industry carries a Zacks Industry Rank of 46, placing it within the top 19% of over 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.
To follow RIVN in the coming trading sessions, be sure to utilize Zacks.com.