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Rivian Automotive (RIVN - Free Report) closed the latest trading day at $14.47, indicating a -1.83% change from the previous session's end. This change lagged the S&P 500's 0.09% gain on the day. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, added 0.3%.

The stock of a manufacturer of motor vehicles and passenger cars has risen by 44.23% in the past month, leading the Auto-Tires-Trucks sector's gain of 2.42% and the S&P 500's gain of 3.38%.

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 -$1.19, marking a 10.19% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $951.15 million, indicating a 15.15% downward movement from the same quarter last year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$4.03 per share and revenue of $4.71 billion, indicating changes of +17.42% and +6.27%, respectively, compared to the previous year.

Investors should also take note of any recent adjustments to analyst estimates for Rivian Automotive. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.4% higher. Right now, Rivian Automotive possesses a Zacks Rank of #3 (Hold).

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 45, positioning it in the top 18% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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