Rivian Automotive (RIVN) closed the most recent trading day at $13.74, moving +1.03% from the previous trading session. The stock's change was more than the S&P 500's daily gain of 0.52%. At the same time, the Dow added 0.63%, and the tech-heavy Nasdaq gained 0.48%.
The stock of a manufacturer of motor vehicles and passenger cars has fallen by 6.4% in the past month, leading the Auto-Tires-Trucks sector's loss of 6.69% and undershooting the S&P 500's gain of 4.27%.
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.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$2.49 per share and revenue of $5.25 billion, indicating changes of +38.37% and +5.66%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Rivian Automotive. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 past month, the Zacks Consensus EPS estimate has remained steady. 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 group has a Zacks Industry Rank of 212, putting it in the bottom 14% 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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