Rivian Automotive (RIVN) Stock Analysis and Forecast: What Investors Need to Know

Are you keeping an eye on Rivian Automotive (RIVN) in the stock market? The latest trading day saw Rivian closing at $31.50, a slight decrease of -0.44% from the previous session. While this change was narrower than the S&P 500’s daily loss of 0.67%, it’s still important to note the overall market trends.

In the past month, Rivian’s shares have lost 11.5%, while the Auto-Tires-Trucks sector has seen a decline of 18.96% and the S&P 500 has lost 3.76%. However, analysts are optimistic about Rivian’s upcoming earnings release on November 9, 2022. They are expecting earnings of -$1.77 per share, a significant year-over-year growth of 76.95%.

Looking ahead, the Zacks Consensus Estimates project earnings of -$6.75 per share and revenue of $1.76 billion for the full year, representing changes of +54.33% and +3100.66%, respectively, from the prior year. These estimates are based on recent analyst revisions, which often reflect short-term business trends and can impact stock performance.

Rivian Automotive currently holds a Zacks Rank of #3 (Hold) and is part of the Automotive – Domestic industry within the Auto-Tires-Trucks sector. The industry has a Zacks Industry Rank of 133, placing it in the bottom 48% of all industries. However, our research shows that top-rated industries tend to outperform the bottom half by a factor of 2 to 1.

To stay updated on Rivian’s performance and future prospects, be sure to utilize Zacks.com for the latest information and recommendations. If you’re interested in a free stock analysis report or want to read more about Rivian Automotive, click on the provided links. Keep an eye on Rivian as it navigates the market and continues to grow in the automotive industry.