Rivian Automotive (RIVN) Stock Declines While Market Improves: Some Information for Investors

In the latest trading session, Rivian Automotive (RIVN) closed at $19.40, marking a -1.56% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.19%. On the other hand, the Dow registered a gain of 0.66%, and the technology-centric Nasdaq decreased by 0.03%. The a manufacturer of motor vehicles and passenger cars's stock has climbed by 9.14% in the past month, exceeding the Auto-Tires-Trucks sector's gain of 3.98% and the S&P 500's gain of 0.54%.The investment community will be closely monitoring the performance of Rivian Automotive in its forthcoming earnings report. The company is expected to report EPS of -$0.68, down 30.77% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $1.26 billion, reflecting a 27.52% fall from the equivalent quarter last year. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$2.59 per share and revenue of $5.37 billion. These totals would mark changes of +35.89% and 0%, respectively, from last year. Investors should also pay attention to any latest changes in analyst estimates for Rivian Automotive. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 5.24% lower within the past month. 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 96, placing it within the top 40% of over 250 industries. The Zacks Industry Rank gauges the strength of our individual 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. Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Rivian Automotive, Inc. (RIVN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks