EV Maker Rivian Navigates Death Cross Ahead Of Q4 Earnings
Portfolio Pulse from Surbhi Jain
Rivian Automotive Inc (NASDAQ:RIVN) is set to report its Q4 earnings on Feb. 21, with Wall Street expecting a negative $1.32 EPS and $1.26 billion in revenues. The stock has faced a 21% decline over the past year and is currently showing a bearish 'Death Cross' technical indicator. Analyst consensus rates RIVN as a Buy with a target price of $23.46, though Barclays downgraded it to Equal Weight with a $16 target. Rivian's rival, Tesla (NASDAQ:TSLA), is also mentioned in the context of the EV industry.
February 20, 2024 | 2:00 pm
News sentiment analysis
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NEGATIVE IMPACT
Rivian is bracing for its Q4 earnings with a negative EPS expectation and a bearish technical outlook. Despite a Buy consensus, Barclays' downgrade could pressure the stock.
The negative EPS expectation, bearish 'Death Cross', and Barclays' downgrade contribute to a pessimistic short-term outlook for RIVN, potentially leading to a decrease in stock price.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Tesla, mentioned as Rivian's rival, may see indirect effects from Rivian's earnings report and market position.
Tesla's position as a direct competitor to Rivian means that RIVN's performance and market sentiment could indirectly affect TSLA, though the impact is less direct and more speculative.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50