Rivian Automotive (RIVN) Exceeds Market Returns: Some Facts to Consider

In the latest market close, Rivian Automotive (RIVN) reached $12.36, with a +1.39% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.16%. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, added 0.46%.The the stock of a manufacturer of motor vehicles and passenger cars has risen by 1.92% in the past month, leading the Auto-Tires-Trucks sector's loss of 8.54% and the S&P 500's loss of 3.59%.Analysts and investors alike will be keeping a close eye on the performance of Rivian Automotive in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.80, marking a 32.77% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $998.66 million, showing a 17.05% drop compared to the year-ago quarter.Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$2.87 per share and revenue of $5.46 billion. These totals would mark changes of +28.96% and +9.8%, respectively, from last year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Rivian Automotive. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.41% decrease. Rivian Automotive currently has a Zacks Rank of #4 (Sell).The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 210, which puts it in the bottom 17% of all 250+ industries.The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want 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