Electric vehicle (EV) maker Rivian Automotive (RIVN) is scheduled to announce its third-quarter earnings after the market closes on Tuesday, November 4. Heading into the results, Wall Street is cautious on RIVN stock. The company recently revised its 2025 deliveries outlook to the range of 41,500 to 43,500 vehicles, compared to the previous forecast of 40,000 to 46,000 units, amid demand uncertainty following the expiration of the $7,500 EV tax credit. Meanwhile, Wall Street expects Rivian to report a narrower loss per share of $0.74 compared to $0.97 in the prior-year quarter.
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The company’s third-quarter revenue is expected to rise 73% year-over-year to $1.51 billion. Rivian recently reported better-than-expected Q3 deliveries of 13,201 vehicles, reflecting a 32% year-over-year increase. The upbeat Q3 deliveries came as investors rushed to make purchases before the expiration of the $7,500 tax EV credit.
Analysts’ Views Ahead of Rivian’s Q3 Earnings
Ahead of Q3 results, Mizuho analyst Vijay Rakesh downgraded Rivian Automotive stock from Hold to Sell and lowered the price target to $10 from $14. The 5-star analyst cited a subdued 2026 EV sales outlook due to the end of the EV tax credit as the reason for his downgrade. Rakesh lowered his 2026 deliveries estimate to 60,000 units from 68,000 units as he expects demand for battery-electric vehicles (BEVs) in the U.S. to “soften.”
Rakesh noted that while Rivian’s Q3 deliveries of 13,201 EVs grew considerably from 10,661 units in the second quarter, near-term deliveries could struggle due to high average selling prices (greater than $70K) ahead of the company’s R2 SUV launch, expected in the first half of next year.
Meanwhile, JPMorgan analyst Ryan Brinkman increased the price target for Rivian stock to $10 from $9 and reiterated a Sell rating as part of a Q3 preview for the autos group. While the analyst is bearish on Rivian stock, he increased his estimates for the auto suppliers under his coverage. He explained that the auto suppliers sector is his preferred sector, due to stronger global light vehicle production and positive trends in currencies and commodities.
AI Analyst Is Cautious on RIVN Stock Ahead of Q3 Print
Interestingly, TipRanks’ AI Analyst has assigned a Neutral rating to Rivian stock with a price target of $13.50, indicating about 0.52% downside. The AI analyst’s rating reflects significant financial challenges, with negative margins and high leverage being the primary headwinds.
While technical indicators suggest neutral momentum, Rivian’s valuation remains unattractive due to ongoing losses. However, the AI Analyst noted that strategic investments and growth in software and services provide a positive outlook.
Options Traders Anticipate a Major Move on Rivian’s Q3 Earnings
Using TipRanks’ Options tool, we can see what options traders are expecting from the stock immediately after its earnings report. The expected earnings move is determined by calculating the at-the-money straddle of the options closest to expiration after the earnings announcement. If this sounds complicated, don’t worry, the Options tool does this for you.
Indeed, it currently says that options traders are expecting a 9.87% move in either direction in RIVN stock in reaction to Q3 2025 results.
Is RIVN Stock a Buy, Hold, or Sell?
Wall Street has a Hold consensus rating on Rivian Automotive stock based on 10 Holds, seven Buys, and five Sell recommendations. The average RIVN stock price target of $13.69 indicates that shares are fully priced at current levels.
