From Nasdaq: 2024-05-06 11:19:40

This week, Lucid Group (LCID) and Rivian Automotive (RIVN) will release their Q1 earnings. Both companies have seen significant stock price declines in 2024. Wall Street analysts are cautious about Rivian’s stock, with UBS upgrading it to “neutral” but not expecting a quick recovery. Rivian and Tesla (TSLA) are listed as short ideas by Wolfe Research. Tesla’s Q1 earnings report led to a stock surge despite missing expectations.

Rivian’s current mean target price is $17.96, significantly higher than its recent closing price. Analysts project Rivian to post revenues of $1.17 billion in Q1 with a per-share loss of $1.38. Despite efforts to reduce losses, Rivian is not expected to become profitable soon. Analysts rate Rivian as a “Moderate Buy” ahead of Q1 earnings.

Investors should pay attention to Rivian’s Q1 delivery guidance, R2 reservations, and capital requirements during the earnings call. With a strong cash position and reasonable valuations, Rivian could see a stock rally post-Q1 earnings. Similar to Tesla, optimistic results could lead to a relief rally for Rivian’s stock.

Mohit Oberoi holds positions in RIVN, LCID, and TSLA. All information in this article is for informational purposes only. The views expressed are personal and do not reflect Nasdaq, Inc.’s opinions.



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