Rivian Automotive (RIVN) closed the most recent trading day at $10.39, moving -0.76% from the previous trading session. This change lagged the S&P 500's daily loss of 0.33%. Elsewhere, the Dow saw a downswing of 0.22%, while the tech-heavy Nasdaq depreciated by 0.56%.

Coming into today, shares of the a manufacturer of motor vehicles and passenger cars had gained 0.29% in the past month. In that same time, the Auto-Tires-Trucks sector lost 4.84%, while the S&P 500 gained 1.83%.

Analysts and investors alike will be keeping a close eye on the performance of Rivian Automotive in its upcoming earnings disclosure. The company's earnings report is set to go public on November 7, 2024. The company's earnings per share (EPS) are projected to be -$0.89, reflecting a 25.21% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $970.69 million, reflecting a 27.4% fall from the equivalent quarter last year.

RIVN's full-year Zacks Consensus Estimates are calling for earnings of -$3.98 per share and revenue of $4.63 billion. These results would represent year-over-year changes of +18.44% and +4.41%, respectively.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Rivian Automotive. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 1.13% fall in the Zacks Consensus EPS estimate. Currently, Rivian Automotive is carrying a Zacks Rank of #3 (Hold).

The Automotive - Domestic industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 183, this industry ranks in the bottom 28% of all industries, numbering over 250.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.