There’s also a VGM Score (‘V’ for Value, ‘G’ for Growth and ‘M’ for Momentum), which combines the weighted average of the individual style scores into one score. According to 23 analysts, the average rating for RIVN stock is “Buy.” The 12-month stock price forecast is $19.18, which is an increase of 73.73% from the latest price. 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. In most cases the # of brokers listed above is less than the # of brokerage firms that have a recommendation on the stock.
Piper Sandler analyst Alexander Potter acknowledges that it’s “risky” for investors to bet on shares of Rivian Automotive Inc., but he now thinks it’s a move investors should consider. Create a free account to gain access to news, analysis, and real-time alerts on the stocks you follow. With average gains of 150% since the start of 2023, now is the time to give these stocks a look and pump up your 2024 portfolio. The company offers five-passenger pickup trucks and sports utility vehicles under the R1T and R1S labels. The R1T is a highly configurable pickup while the R1S is an off-road capable SUV. 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.
Rivian stock price forecast: how will the new model launch affect RIVN?
Rivian is also building the Rivian Adventure Network, a series of charging stations along popular routes and out-of-the-way destinations. The charging stations can add up to 120 miles of range to a battery https://www.tradebot.online/ pack in just 20 minutes. The company is planning to launch at least 2500 stations nationwide. Automotive stocks get sized up by a leading analyst with one manufacturer and one supplier taking top honors.
At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.18% per year. These returns cover a period from January 1, 1988 through January 1, 2024. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month.
Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. Zacks may license the Zacks Mutual Fund rating provided herein to third parties, including but not limited to the issuer. 24 Wall Street research analysts have issued twelve-month price targets for Rivian Automotive’s shares. On average, they expect the company’s share price to reach $20.78 in the next twelve months.
The Zacks Industry Rank assigns a rating to each of the 265 X (Expanded) Industries based on their average Zacks Rank. The startup is betting that customers will line up to buy a more affordable version of its EV vehicles. While the EV startup can serve more customers with a $45,000 sport-utility vehicle, the market is getting crowded.
As an investor, you want to buy stocks with the highest probability of success. That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style. The Style Scores are a complementary set of indicators to use alongside the Zacks Rank.
Biggest stock movers today: RIVN, ADBE, GERN, and more
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.
- Zacks may license the Zacks Mutual Fund rating provided herein to third parties, including but not limited to the issuer.
- The Style Scores are a complementary set of indicators to use alongside the Zacks Rank.
- The R1T comes with 8 different drive modes geared for offroading, city adventures, and everything in between.
- There are currently 2 sell ratings, 8 hold ratings and 14 buy ratings for the stock.
The Rivian R1S began production in 2022 and began deliveries later that year. The R1S comes with a 260 to 320-mile range and can also wade through 3 feet of water. The R1S also boasts the ability to rock crawl up a 100% incline or 45-degree slope.
This suggests a possible upside of 88.2% from the stock’s current price. View analysts price targets for RIVN or view top-rated stocks among Wall Street analysts. Zacks provides the average brokerage recommendation (ABR) for thousands of stocks for most of the leading investment web sties. The ABR is the calculated average of the actual recommendations (strong buy, hold, sell etc) made by the brokerage firms for a given stock.
Piper Sandler says new cars, capex plan ‘breathes life’ into Rivian thesis, upgrades stock
By mid-2022 the company had delivered more than 8,000 vehicles with production ramping quickly. Rivian Automotive, Inc. is an OEM EV manufacturer focused on pickup trucks and SUVs. The company was founded in 2009 and is based in San Jose, California. Rivian is among the greenest of the EV makers choosing to achieve carbon neutrality well ahead of the Paris Climate Accord timeline. Many of the brokerage firms who provide Zacks data ask that we keep their identity confidential.
That is because some firms prohibit Zacks from displaying detailed information on their recommendations such as in the upgrade/downgrade table. Piper Sandler analyst Alexander Potter upgraded Rivian shares to Buy from Hold. The money-losing electric vehicle company, which makes vans, trucks and S.U.V.s, is trying to preserve cash as it works to produce and sell more affordable vehicles. Rivian Automotive’s stock was trading at $23.46 on January 1st, 2024. Since then, RIVN shares have decreased by 52.9% and is now trading at $11.04. Of the 24 recommendations deriving the current ABR, 12 are Strong Buy and two are Buy.
The industry with the best average Zacks Rank would be considered the top industry (1 out of 265), which would place it in the top 1% of Zacks Ranked Industries. The industry with the worst average Zacks Rank (265 out of 265) would place in the bottom 1%. An industry with a larger percentage of Zacks Rank #1’s and #2’s will have a better average Zacks Rank than one with a larger percentage of Zacks Rank #4’s and #5’s. Production of Rivian’s R2 model will be diverted to the automaker’s existing facility in Illinois. Rivian CEO RJ Scaringe surprised his audience with the unexpected reveal of the smaller R3 SUV. Rivian’s “one more thing” was a nod to Steve Jobs’ habit of teasing one final product reveal at events.
