Rivian Automotive (RIVN) beats earnings on the stock market: What you should know

The most recent trading session ended with Rivian Automotive (RIVN) trading at $13.15, representing a +1.94% change from the previous trading day's close. This change outpaced the S&P 500's daily gain of 1.7%. The Dow saw a 1.26% gain, while the tech-heavy Nasdaq gained 2.51%.

Shares of the automobile and passenger vehicle maker lost 1.3 percent in value over the past month, lagging behind the 2.47 percent gain in the auto, tire and truck sector and the 1.27 percent gain in the S&P 500.

Analysts and investors will be keeping a close eye on Rivian Automotive's performance on its upcoming earnings release. The company's upcoming earnings per share are estimated at -$0.90, representing an increase of 24.37% from the year-ago quarter. Meanwhile, our current consensus estimate is calling for revenue of $1.1 billion, representing a decrease of 18.09% from the corresponding quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of -$4 per share and revenue of $4.77 billion, representing changes of +18.03% and +7.67%, respectively, from the prior year.

It is also important to note recent changes in analyst estimates for Rivian Automotive. These revisions help to demonstrate the ever-changing nature of near-term business trends. As a result, optimistic changes in estimates suggest that analysts are becoming positive about the company's business health and profitability.

Our research suggests that these estimate changes are directly related to future stock price movements. To capitalize on this, we have developed the Zacks Rank, a quantitative model that takes these estimate changes into account and provides a practical rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable outside-audited track record, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.39% higher within the past month. Rivian Automotive currently carries a Zacks Rank of #3 (Hold).

The Automotive – Domestic industry is part of the Auto-Tires-Trucks sector. This industry, which currently has a Zacks Industry Rank of 165, ranks in the bottom 35% of all 250+ industries.

The Zacks Industry Rank evaluates the strength of our individual 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.

The story continues

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