In the latest market close, Rivian Automotive (RIVN) hit $15.53, representing a +1.44% change from previous day. The stock's performance outpaced the S&P 500's daily gain of 1.25%. Elsewhere, the Dow rose 0.97% and the tech-heavy Nasdaq rose 1.3%.
Shares of the auto and passenger vehicle manufacturer have fallen 24.66% over the past month, lagging the Auto Tires & Trucks sector's decline of 11.14% and the S&P 500's gain of 1.58%.
Rivian Automotive's upcoming earnings release will be very interesting for investors. The company's earnings report is expected to be released on February 21, 2024. The company's future EPS is projected to be -$1.39, which would represent an increase of 19.65% compared to the same period last year. At the same time, our most recent consensus estimate is calling for revenue of $1.29 billion, up 94.13% from the prior-year quarter.
Additionally, investors may find it useful to monitor recent changes in analyst estimates for Rivian Automotive. These revisions help illustrate the ever-changing nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research shows that these estimate revisions are directly correlated with impending stock movements. To benefit from this, we have created the Zacks Rank, a proprietary model that combines these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 ranked stocks having an average annual return of +25% since 1988. is producing. Over the past 30 days, his Zacks Consensus EPS estimate has decreased 1.3%. 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 of 158, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the vitality of specific industry groups by calculating the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
Track all of these stock price movement metrics and more with Zacks.com in the coming trading sessions.
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Rivian Automotive, Inc. (RIVN): Free Stock Analysis Report
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