Rivian (NASDAQ:RIVN) stock is in focus after UBS analyst Joseph Spak raised his price target to $9 from $10. The change comes after the pure-play electric vehicle (EV) company reported its first-quarter earnings and maintained its 2024 production guidance of 57,000 vehicles compared to actual production of 57,232 vehicles in 2023. That disappointed shareholders, who were hoping for a guidance increase.For Q1, revenue tallied in at $1.204 billion, beating the Factset estimate for $1.17 billion. EPS was a los ...

One Wall Street analyst sees a plan that could help Rivian become a long-term winner.Investors didn't react well when Rivian Automotive (RIVN -1.31%) reported its first-quarter update this week. While results were largely in line with expectations, the stock slid when the company left its full-year targets intact. Investors were likely hoping for a boost in expected electric vehicle (EV) production for the year.But not everyone was disappointed. Following the report, Needham analyst Chris Pierce reiterated ...

After reporting worse-than-expected earnings, Wall Street sentiment toward Rivian (NASDAQ:RIVN) stock is shifting. Indeed, Wells Fargo just reduced its price target on the electric vehicle (EV) producer from $14 to $10, although analyst Colin Langan maintained an “equal weight” rating. RIVN stock is down today on news of the mixed results, although shares are currently regaining some momentum.This makes it difficult to properly assess RIVN, especially give the mixed nature of the recent report. But even as ...

First-quarter results were mostly as expected, but the EV maker needs to change the narrative.Shares of Rivian (RIVN -2.58%) were falling again after the company reported first-quarter results that generally matched expectations, but the company continued to burn cash and lose money. It also maintained its modest production guidance for the year, showing it is still challenged by a broader slowdown in the electric vehicle (EV) industry. The sell-off seems to reflect an ongoing decline in investor confidence ...

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

Consumer interest has definitely has started to shift away from EV stocks with many investors choosing to sell them in favor of conventional combustion engine companies. Everything from government subsidies to concerns about climate change has spurred growth in the sector. However, since the beginning of the U.S. Federal Reserve’s 2022 rate hike cycle, the space has begun to face a number of demand headwinds. The automotive market in the United States depends on cars loans to feed consumer purchases of new ...

Rivian Automotive, Inc. (NASDAQ:RIVN) Q1 2024 Earnings Conference Call May 7, 2024 5:00 PM ET Company Participants Tim Bei - Vice President of Investor Relations RJ Scaringe - Chief Executive Officer Claire McDonough - Chief Financial Officer Conference Call Participants Mark Delaney - Goldman Sachs Adam Jonas - Morgan Stanley John Murphy - Bank of America Securities Dan Levy - Barclays George Gianarikas - Canaccord Genuity Alexander Potter - Piper Sandler Emmanuel Rosner - Deutsche Bank Shreyas Patil - Wol ...

Rivian Automotive (RIVN) came out with a quarterly loss of $1.19 per share versus the Zacks Consensus Estimate of a loss of $1.13. This compares to loss of $1.25 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -5.31%. A quarter ago, it was expected that this a manufacturer of motor vehicles and passenger cars would post a loss of $1.39 per share when it actually produced a loss of $1.36, delivering a surprise of 2.16%.Over the ...

(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q For the quarterly period ended March 31, 2024 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number 001-41042 Rivian Automotive, Inc. (Exact name of registrant as specified in its charter) | Delaware | 14600 Myford ...

Rivian lost $1.45 billion in the first quarter, showing that its recent company-wide cost-cutting measures have a ways to go before it can approach profitability.The EV-maker brought in $1.2 billion in revenue in the period, coming in just under its record haul from the prior quarter, according to its first-quarter earnings report that was released Tuesday after markets closed. That’s slightly more than the $1.16 billion expected by Yahoo Finance analysts. Rivian’s revenue grew 82% from the $661 million it ...