Rivian Automotive (RIVN) ended the recent trading session at $14.20, demonstrating a -1.39% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.27% for the day.
Coming into today, shares of the a manufacturer of motor vehicles and passenger cars had lost 3.16% in the past month. In that same time, the Auto-Tires-Trucks sector gained 5.86%, while the S&P 500 gained 6.9%.
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 -$0.65 per share. This would mark year-over-year growth of 46.28%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.29 billion, up 11.22% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$2.49 per share and a revenue of $5.25 billion, demonstrating changes of +38.37% and +5.66%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Rivian Automotive. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.54% lower. As of now, Rivian Automotive holds a Zacks Rank of #3 (Hold).
The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 217, which puts it in the bottom 12% of all 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Rivian Automotive, Inc. (RIVN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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