You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities. Rivian Automotive scored higher than 68% of companies evaluated by MarketBeat, and ranked 39th out of 91 stocks in the auto/tires/trucks sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.
VW increased its planned investment for a joint venture with EV startup Rivian to $5.8 billion as the companies have broader aspirations than initially announced for the operations. Discover which analysts rank highest on forex & cfd trading on stocks indices oil gold by xm predicting the price target of RIVN. He identifies attractive risk/reward opportunities supported by robust price action to potentially generate alpha well above the S&P 500.
He focuses on ideas that has strong growth potential and well-beaten contrarian plays, with an 18 to 24 month outlook for the thesis to play out. Financially, Rivian’s recent maneuvers signal a more disciplined approach. The decision to cut the Georgia plant saved $2.25 billion, while a $5.8 billion cash injection from Volkswagen provides a substantial runway to scale production and deliver its next-generation models.
- Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.
- In 2023, Rivian Automotive’s revenue was $4.43 billion, an increase of 167.43% compared to the previous year’s $1.66 billion.
- For example, a price above its moving average is generally considered an upward trend or a buy.
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- These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
- The company offers five-passenger pickup trucks and sports utility vehicles under the R1T and R1S labels.
About MarketBeat
But, for RIVN, an impressive average price target is not the only indicator of a potential upside. Strong agreement among analysts about the company’s ability to report better earnings than they predicted earlier strengthens this view. While a positive trend in earnings estimate revisions doesn’t gauge how much a stock could gain, it has proven to be Top 10 forex trading platforms powerful in predicting an upside. While that doesn’t necessarily mean the stock will hit the average price target, it could be a good starting point for further research aimed at identifying the potential fundamental driving forces.
The R1T comes with 8 different drive modes geared for offroading, city adventures, and everything in between. Among the choices is the “Drift” mode which proactively distributes power to offset traction control and increase the “fun” factor. The vehicle comes with a 240 to 400-mile range depending on the battery and motor combination and individual driving styles. In regard to its capabilities, the truck can go from 0 to 60 in 3 seconds, tow up to 11,000 pounds, and wade through 3 feet of water with no problems. Highlights important summary options statistics to provide a forward looking indication of investors’ sentiment. The companies said the deal is now up to $5.8 billion – up from $5 billion – with the first VW models to use Rivian’s software and electrical architecture arriving as early as 2027.
Company Overview
The R1T is hailed as the world’s first EV adventure vehicle, it began production in early 2021 and the first deliveries were made later that same year. By mid-2022 the company had delivered more than 8,000 vehicles with production ramping quickly. Shares of electric vehicle stocks started off on the right foot this week after reports emerged that President Trump’s administration will look to lessen regulatory burdens for autonomous driving. Rivian and Volkswagen Group launched on Tuesday the joint venture they had announced in June, valued at $5.8 billion, to share software and electric vehicle architecture. Rivian Automotive faces short-term production issues and potential loss of EV tax credits but remains a strong long-term investment with significant cash reserves. The group is designed for investors seeking to capitalize on growth stocks with robust fundamentals, buying momentum, and turnaround plays at highly attractive valuations.
So, price targets should always be treated with a high degree of skepticism. While the consensus price target is a much-coveted metric for investors, solely banking on this metric to make an investment decision may not be wise at all. That’s because the ability and unbiasedness of analysts in setting price targets have long been questionable. Shares of Rivian jumped over 13% in premarket trading Wednesday after the electric vehicle maker announced a $5.8 billion investment from German automaker Volkswagen as part of their joint venture. President-elect Trump wants to eliminate the $7,500 tax credit on electric vehicles, which would hurt Tesla the most. The new agreement builds on an earlier announcement in which the German automaker said it would invest up to $5 billion in Rivian, a maker of electric vehicles.
Key terms
We came across a bullish thesis on Rivian Automotive, Inc. (RIVN) on wallstreetbets Subreddit Page by LegitosaurusRex. Rivian Most active penny stocks Automotive, Inc. (RIVN)’s share was trading at $10.05 as of Nov 20th. Privacy Policy | No cost, no obligation to buy anything ever.Past performance is no guarantee of future results.
After each calculation the program assigns a Buy, Sell, or Hold value with the study, depending on where the price lies in reference to the common interpretation of the study. For example, a price above its moving average is generally considered an upward trend or a buy. The Barchart Technical Opinion rating is a 72% Sell with a Weakening short term outlook on maintaining the current direction. Trump’s election has caused renewable and electric vehicle (EV) stocks to crash.
Our experts picked 7 Zacks Rank #1 Strong Buy stocks with the best chance to skyrocket within the next days. Upgrade to MarketBeat All Access to add more stocks to your watchlist. Rivian Automotive (RIVN) raised $9.1 billion in an IPO on Wednesday, November 10th 2021.
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The company designs, develops, manufactures, and sells electric adventure vehicles and accessories through direct sales to consumers and commercial markets. The company vehicles are designed for sustainability and long lifespans across all components with repairability and reusability key to the end result. That includes engineering specifications such as easily removable batteries and batteries that can be easily recycled or repurposed into stationary power packs when their EV lifespan is spent. Analysts are bullish, with price targets reflecting at least 50% upside and the potential to double as Rivian capitalizes on its streamlined operations, new models, and a strengthening pipeline.