Rivian Automotive, Inc. (NASDAQ:RIVN) Expected to Announce Quarterly Sales of $113.64 Million

Brokerages expect Rivian Automotive, Inc. (NASDAQ:RIVN – Get Rating) to announce $113.64 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Rivian Automotive’s earnings, with estimates ranging from $92.58 million to $175.50 million. The company is expected to issue its next earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Rivian Automotive will report full-year sales of $1.87 billion for the current fiscal year, with estimates ranging from $1.41 billion to $2.17 billion. For the next fiscal year, analysts expect that the company will report sales of $6.13 billion, with estimates ranging from $4.19 billion to $7.73 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Rivian Automotive.

Rivian Automotive (NASDAQ:RIVN – Get Rating) last posted its quarterly earnings results on Thursday, March 10th. The electric vehicle automaker reported -2.43 EPS for the quarter, missing the consensus estimate of -1.97 by -0.46. The business had revenue of 54.00 million for the quarter, compared to the consensus estimate of 60.72 million.

Several research firms have commented on RIVN. Exane BNP Paribas started coverage on shares of Rivian Automotive in a report on Monday, April 11th. They set an “underperform” rating and a $35.00 price target for the company. Robert W. Baird reduced their price objective on shares of Rivian Automotive from $100.00 to $84.00 in a research report on Friday, March 11th. Wedbush reduced their price objective on shares of Rivian Automotive from $130.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, March 11th. Wolfe Research reduced their price objective on shares of Rivian Automotive from $130.00 to $78.00 and set an “outperform” rating for the company in a research report on Friday, March 11th. Finally, Piper Sandler reduced their price objective on shares of Rivian Automotive from $130.00 to $112.00 and set an “overweight” rating for the company in a research report on Monday, April 18th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of 83.06.

A number of institutional investors have recently made changes to their positions in the business. Amazon com Inc purchased a new position in Rivian Automotive during the 4th quarter worth $16,420,746,000. Coatue Management LLC purchased a new position in Rivian Automotive during the 4th quarter worth $3,652,616,000. BlackRock Inc. purchased a new position in Rivian Automotive during the 4th quarter worth $3,195,595,000. Capital Research Global Investors purchased a new position in Rivian Automotive during the 4th quarter worth $2,562,520,000. Finally, Soros Fund Management LLC purchased a new position in Rivian Automotive during the 4th quarter worth $2,056,770,000. Institutional investors own 78.67% of the company’s stock.

NASDAQ RIVN opened at 31.74 on Tuesday. The company has a quick ratio of 13.93, a current ratio of 14.14 and a debt-to-equity ratio of 0.06. Rivian Automotive has a 52 week low of 29.32 and a 52 week high of 179.47. The business’s 50 day moving average price is 43.60.

About Rivian Automotive (Get Rating)

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.

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