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Rivian Automotive (RIVN) closed the latest trading at $11.36, representing a +0.89% increase from the prior day’s closing price. The stock traded in line with the S&P 500. Elsewhere, the Dow Jones Industrial Average rose 1.03% and the tech-heavy Nasdaq rose 1.25%.
Shares of the auto and passenger vehicle maker fell 29.14% month-over-month, lagging the Auto Tires & Trucks sector’s decline of 2.46% and the S&P 500’s gain of 3.56%.
The investment community will be paying close attention to Rivian Automotive’s earnings performance in future releases. The company’s EPS is expected to be -$1.14, up 8.8% year-over-year. Also, our latest consensus estimate is calling for revenue of $1.08 billion, up 63.67% from the year-ago period.
For the full fiscal year, our Zacks Consensus Estimates are projecting earnings of -$4.07 per share and revenue of $4.74 billion, which would represent changes of +16.6% and +6.9%, respectively, from the prior year. Masu.
Investors may 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, the positive estimate changes indicate that analysts have a favorable outlook on the health and profitability of the company’s business.
Based on our research, we believe these estimate revisions are directly related to near team stock movements. We developed the Zacks Rank to take advantage of this phenomenon. Our system takes these estimate changes into account and provides a clear and actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), has a remarkable, third-party-audited track record of outperformance, with #1 rated stocks having an average annual Generates a return of +25%. Over the past month, the Zacks Consensus EPS estimate has moved 0.69% higher. Rivian Automotive currently has a Zacks Rank of #3 (Hold).
The Automobiles – Domestic industry is part of the Automotive Tires – Trucks sector. This industry currently has a Zacks Industry Rank #62, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank is ordered from highest to lowest based on the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
In subsequent trading sessions, remember to utilize Zacks.com to monitor all of these metrics impacting the stock and more.
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Rivian Automotive, Inc. (RIVN): Free Stock Analysis Report
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