Fintel reports that on December 7, 2023, Stifel initiated coverage of Rivian Automotive Inc - (NASDAQ:RIVN) with a Buy recommendation.
Analyst Price Forecast Suggests 48.91% Upside
As of November 27, 2023, the average one-year price target for Rivian Automotive Inc - is 27.37. The forecasts range from a low of 15.15 to a high of $42.00. The average price target represents an increase of 48.91% from its latest reported closing price of 18.38.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Rivian Automotive Inc - is 5,692MM, an increase of 50.50%. The projected annual non-GAAP EPS is -5.82.
What is the Fund Sentiment?
There are 1110 funds or institutions reporting positions in Rivian Automotive Inc -. This is an increase of 130 owner(s) or 13.27% in the last quarter. Average portfolio weight of all funds dedicated to RIVN is 0.34%, an increase of 34.51%. Total shares owned by institutions increased in the last three months by 1.33% to 659,959K shares. 
The put/call ratio of RIVN is 0.93, indicating a bullish outlook.
What are Other Shareholders Doing?
Amazon Com holds 158,364K shares representing 16.54% ownership of the company. No change in the last quarter.
Price T Rowe Associates holds 71,521K shares representing 7.47% ownership of the company. In it's prior filing, the firm reported owning 73,293K shares, representing a decrease of 2.48%. The firm increased its portfolio allocation in RIVN by 49.56% over the last quarter.
PRGFX - T. Rowe Price Growth Stock Fund holds 25,739K shares representing 2.69% ownership of the company. In it's prior filing, the firm reported owning 27,440K shares, representing a decrease of 6.61%. The firm increased its portfolio allocation in RIVN by 50.58% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 21,852K shares representing 2.28% ownership of the company. In it's prior filing, the firm reported owning 22,043K shares, representing a decrease of 0.87%. The firm increased its portfolio allocation in RIVN by 49.96% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 15,971K shares representing 1.67% ownership of the company. In it's prior filing, the firm reported owning 16,193K shares, representing a decrease of 1.39%. The firm increased its portfolio allocation in RIVN by 52.16% over the last quarter.
Rivian Automotive Background Information
(This description is provided by the company.)
Rivian exists to create products and services that help our planet transition to carbon neutral energy and transportation. Rivian designs, develops, and manufactures category-defining electric vehicles and accessories and sells them directly to customers in the consumer and commercial markets. Rivian complements its vehicles with a full suite of proprietary, value-added services that address the entire lifecycle of the vehicle and deepen its customer relationships.
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This story originally appeared on Fintel.
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