Streetbeat News

RIVN

Rivian Automotive, Inc.

Industry

Auto - Manufacturers

Rivian Automotive, Inc. designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sports utility vehicles. It provides Rivian Commercial Vehicle platform for electric Delivery Van with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets. Rivian Automotive, Inc. was founded in 2009 and is based in San Jose, California.

Open

10.07

Mkt cap

10B

Volume

78M

High

10.07

P/E Ratio

-1.80

52-wk high

24.61

Low

9.55

Div yield

N/A

52-wk low

8.26

Rivian Automotive reported Q4 2023 adjusted EPS of $(1.36), missing the $(1.32) estimate, but sales of $1.31B exceeded the $1.26B estimate, marking a 98.34% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:18 pm

Rivian Automotive, Inc (NASDAQ:RIVN) is trading lower ahead of its Q4 earnings, with analysts expecting a loss of $1.32 per share on revenues of $1.262 billion. Barclays downgraded Rivian's stock, and the company's stock performance has been volatile around earnings reports. The Spear Alpha ETF (NASDAQ:SPRX), which includes Rivian among its holdings, offers a diversified investment option. Rivian's technical analysis shows a neutral stance with potential for movement post-earnings.

Portfolio Pulse from Melanie Schaffer

February 21, 2024 | 7:59 pm

Wall Street experienced a downturn ahead of the Federal Reserve meeting minutes and Nvidia's earnings report. Cybersecurity stocks, notably Palo Alto Networks, faced significant losses, impacting the Global X Cybersecurity ETF. Energy stocks outperformed due to a rise in natural gas prices. Major indices and ETFs like SPY, DIA, and QQQ saw declines, while specific stocks reacted to earnings reports or anticipated earnings.

Portfolio Pulse from Piero Cingari

February 21, 2024 | 6:04 pm

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 2:14 pm

Wall Street is focused on Nvidia's upcoming Q4 earnings amid a tech selloff and concerns over Federal Reserve's future interest rate decisions. Tuesday's market downturn was influenced by mixed retail earnings, Nvidia earnings anxiety, and a decline in the leading economic index. Futures and specific stocks like Palo Alto Networks showed premarket declines, while the market anticipates Fed minutes and speeches for interest rate clues. Notable companies are scheduled for earnings reports, affecting stock movements.

Portfolio Pulse from Shanthi Rexaline

February 21, 2024 | 11:51 am

The article lists companies scheduled to report their earnings on February 21, 2024, including their expected earnings per share and revenue. It covers a wide range of industries and includes both companies expected to report profits and losses.

Portfolio Pulse from Benzinga Insights

February 21, 2024 | 10:09 am

Rivian CEO RJ Scaringe has identified $48,000 as the target price for the upcoming R2 SUV, aiming to hit a 'sweet spot' in the EV market. The R2, smaller and cheaper than Rivian's R1S, is set to be unveiled in March 2023 and enter production in 2026. It's designed to compete with Tesla's Model Y and to be eligible for the $7,500 federal EV tax credit, unlike Rivian's R1 models which only qualify for a $3,750 credit. This pricing strategy positions the R2 in a competitive segment against Tesla's lower-end EVs.

Portfolio Pulse from Anan Ashraf

February 21, 2024 | 9:18 am

The CNN Money Fear and Greed index indicated a decline in market sentiment, remaining in the 'Greed' zone with a reading of 67.3. U.S. stocks, including the Nasdaq, Dow Jones, and S&P 500, closed lower, ending their five-week winning streak. The Conference Board's Leading Economic Index fell more than expected. Capital One Financial Corp plans to acquire Discover Financial Services in a $35.3 billion deal. Walmart Inc. shares rose after reporting strong Q4 results. Sectors like consumer discretionary, energy, and IT saw losses, while consumer staples gained. Investors await earnings from Exelon Corporation, Analog Devices, NVIDIA, and Rivian Automotive.

Portfolio Pulse from Avi Kapoor

February 21, 2024 | 8:46 am

Rivian Automotive, Inc. (NASDAQ:RIVN) shares are trading lower ahead of its Q4 earnings report. The company announced expansion into Europe and the unveiling of a new SUV, the R2. Barclays analyst Dan Levy downgraded Rivian's stock from Overweight to Equal-Weight with a price target reduction from $25 to $16, citing a slowdown in the EV market. Rivian is expected to report a loss of $1.32 per share and revenue of $1.262 billion. Analysts have mixed ratings on RIVN, with an average 12-month price target of $20.14.

Portfolio Pulse from Erica Kollmann

February 20, 2024 | 7:12 pm

Rivian Automotive Inc (NASDAQ:RIVN) is set to report its Q4 financial results, with analysts expecting a significant revenue increase to $1.262 billion from last year's $663.0 million, and a reduced loss of $1.32 per share. Despite beating earnings estimates in recent quarters, several analysts have downgraded RIVN due to the overall weakness in the EV sector and potential challenges in meeting its 2024 gross margin profitability target. Key items for the upcoming earnings include updates on 2024 production, deliveries, and details on the R2 model debut.

Portfolio Pulse from Chris Katje

February 20, 2024 | 6:41 pm

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