Rivian Releases First Quarter 2024 Financial Results

Needham on Rivian Automotive Inc (RIVN), 'Still See A Long Term Winner'

Needham analyst Chris Pierce reiterated a Buy rating and $13.00 price target on Rivian Automotive Inc (NASDAQ: RIVN).

The analyst comments "We reiterate our Buy rating on RIVN and maintain our price target of $13 post 1Q results and company commentary. We... More

Rivian Automotive Inc (RIVN) PT Lowered to $15 at Cantor Fitzgerald

Cantor Fitzgerald analyst Andres Sheppard lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $15.00 (from $23.00) while maintaining a Overweight rating.

The analyst comments "We reiterate our Overweight rating, but we lower our 12-month PT to $15 (from $23) on Rivian (RIVN)... More

Rivian Automotive Inc (RIVN) PT Lowered to $10 at Wells Fargo

Wells Fargo analyst Colin Langan lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $10.00 (from $14.00) while maintaining a Equal Weight rating.

The analyst comments "RIVN headline Q1 EBITDA beat consensus, though missed ex. special charges. The company held FY adj... More

Rivian's (RIVN) Q1 earnings come short, production outlook reaffirmed; stock down

(Updated - May 8, 2024 4:47 AM EDT)

Rivian Automotive (NASDAQ: RIVN) saw its shares slide more than 5% in premarket trading Wednesday after the electric vehicle (EV) maker reported worse-than-expected earnings for the fiscal Q1 2024.

To be specific, Rivian posted a first-quarter adjusted loss per share of $1.24, wider than the expected loss per share of $1.15. However, the company's quarterly revenue reached $1.2 billion, exceeding the consensus estimate of $1.15 billion.

The automaker reported an adjusted EBITDA of -$798 million for the quarter, better than the consensus estimate of -$824 million.

Rivian said it produced 13,980 vehicles... More