Rivian Automotive

RIVN · NASDAQ

$12.43+$0.09 (+0.73%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $12.34

RIVN analyst rating

HoldConsensus of 22 analysts over the last 12 months. 45% rate it a buy.

Strong buy0
Buy10
Hold8
Underperform4
Sell0

12-month price target · 31 analysts

Average $19.65 (+58.1% upside)

Low: $13.13
Now: $12.43
High: $26.25

Upgrades and downgrades

The latest rating actions, newest first

RIVN analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Citigroup	Sep 14, 2026	Initiates	Neutral	$18.00	57%
RBC Capital	Jul 31, 2026	Maintains	Sector Perform	$14.00 → $16.00	56%
Morgan Stanley	Jul 31, 2026	Maintains	Underweight	$13.00 → $14.00	67%
TD Cowen	Jul 31, 2026	Maintains	Buy	$20.00 → $21.00	42%
Wells Fargo	Jul 31, 2026	Maintains	Equal-Weight	$15.00 → $16.00	41%
Needham	Jul 31, 2026	Maintains	Buy	$23.00	33%
Cantor Fitzgerald	Jul 28, 2026	Maintains	Neutral	$19.00	59%
Piper Sandler	Jul 27, 2026	Upgrade	Neutral → Overweight	$18.00 → $20.00	52%
Morgan Stanley	Jul 14, 2026	Maintains	Underweight	$12.00 → $13.00	67%
UBS	Jul 9, 2026	Maintains	Neutral	$16.00 → $17.00	39%

The case for and against

Updated Oct 14, 2026

Bull case

Rivian Automotive is supported by a clean-sheet, software-defined and vertically integrated platform that can lower per-vehicle costs, improve margins, and reduce reliance on auto suppliers as production scales. Its R2 launch, together with strong R1 owner satisfaction, expected 2026 demand, and a successful Volkswagen JV test that unlocked a $1B cash infusion, strengthens confidence in execution and liquidity while expanding the addressable market through lower-priced models and commercial EV partnerships. The company’s autonomy roadmap, including consumer AV features and 2028 Uber robotaxis, adds a high-margin growth layer that could drive conversion, differentiate the brand, and create new monetization beyond vehicle sales.

Bear case

Rivian Automotive is facing a negative outlook because unit growth is expected to lag, delaying margin improvement from its TAM-expanding R2 and R3 launches while high fixed costs keep profitability pressured. Its latest results underscored the strain, with adjusted EBITDA of -$472M on revenues of $1.38B, and guidance calling for 62,000-67,000 vehicle deliveries alongside adjusted EBITDA of -$2.1B to -$1.8B. The company also remains unprofitable and exposed to supply-chain, regulatory, subsidy, and execution risks, while its Amazon partnership has yet to prove it can generate meaningful new delivery van volume.

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