Rivian Automotive, Inc. (NASDAQ:RIVN) Stock Has Consensus Target Price of $19.50 According to Brokerages

Key Points

• Analyst sentiment is mixed: 26 analysts give Rivian a consensus “Hold” rating, with 15 buys, six holds and five sells; the average 12-month price target is $19.50.
• Rivian’s latest quarterly results beat expectations, with a loss of $0.48 per share versus the $0.64 forecast and revenue of $2.15 billion versus $2.0 billion expected. Revenue rose 38.3% year over year, though the company remained unprofitable.
• RIVN opened at $14.01, below its 50-day average of $14.17 and 200-day average of $15.39; its 52-week trading range is $11.38–$22.69.

Rivian Automotive, Inc. (NASDAQ:RIVN - Get Free Report) has been given a consensus recommendation of "Hold" by the twenty-six analysts that are covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $19.50.

A number of research firms have weighed in on RIVN. UBS Group raised shares of Rivian Automotive from a "neutral" rating to a "buy" rating and set a $17.00 target price for the company in a research report on Monday, November 2nd. Morgan Stanley upped their target price on Rivian Automotive from $13.00 to $14.00 and gave the company an "underweight" rating in a research report on Friday, July 31st. TD Cowen increased their price target on Rivian Automotive from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Cantor Fitzgerald reduced their price objective on shares of Rivian Automotive from $19.00 to $16.00 and set a "neutral" rating for the company in a research report on Friday, October 30th. Finally, Wall Street Zen lowered shares of Rivian Automotive from a "hold" rating to a "sell" rating in a research note on Saturday, October 31st.

Insider Transactions at Rivian Automotive

In other Rivian Automotive news, insider Michael John Callahan sold 15,000 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $15.00, for a total value of $225,000.00. Following the transaction, the insider owned 1,001,776 shares in the company, valued at approximately $15,026,640. This represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Claire McDonough sold 13,144 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $14.50, for a total value of $190,588.00. Following the transaction, the chief financial officer directly owned 827,201 shares in the company, valued at $11,994,414.50. The trade was a 1.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 51,167 shares of company stock worth $788,306 in the last three months. Insiders own 1.48% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Jacobi Capital Management LLC acquired a new stake in shares of Rivian Automotive in the 3rd quarter worth about $25,000. MCF Advisors LLC grew its stake in shares of Rivian Automotive by 3,500.0% in the 2nd quarter. MCF Advisors LLC now owns 1,800 shares of the electric vehicle automaker's stock worth $31,000 after acquiring an additional 1,750 shares in the last quarter. Oslo Pensjonsforsikring AS bought a new stake in shares of Rivian Automotive in the 1st quarter worth $39,000. Ancora Advisors LLC purchased a new stake in shares of Rivian Automotive in the second quarter valued at about $44,000. Finally, Heritage Family Offices LLP purchased a new stake in shares of Rivian Automotive in the third quarter valued at about $49,000. 66.25% of the stock is owned by institutional investors.

Rivian Automotive Price Performance

RIVN stock opened at $14.01 on Tuesday. The company has a market capitalization of $20.28 billion, a P/E ratio of -6.23 and a beta of 1.64. The company has a fifty day moving average price of $14.17 and a 200-day moving average price of $15.39. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.70 and a current ratio of 2.18. Rivian Automotive has a 52-week low of $11.38 and a 52-week high of $22.69.

Rivian Automotive (NASDAQ:RIVN - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The electric vehicle automaker reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.16. The company had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2 billion. Rivian Automotive had a negative net margin of 45.88% and a negative return on equity of 69.68%. Rivian Automotive's revenue for the quarter was up 38.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.08) earnings per share. As a group, equities analysts expect that Rivian Automotive will post -2.72 EPS for the current year.

About Rivian Automotive

Rivian Automotive, Inc designs, develops and manufactures electric vehicles and related technology. Its consumer lineup includes the R1T electric pickup truck and R1S electric sport utility vehicle, while its commercial offerings include electric delivery vans and fleet services.

Founded in 2009 by RJ Scaringe, the company began delivering its R1T and R1S vehicles in 2021. Rivian also develops vehicle software, charging solutions and services intended to support its consumer and commercial customers.

Rivian primarily serves customers in the United States and Canada.

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