The Q3 earnings season is now underway, and all eyes are on electric vehicle (EV) makers as investors look for clues about industry demand, production efficiency, and profitability trends. Two of the most closely watched names are Tesla (TSLA) and Rivian Automotive (RIVN), both set to report results in the coming weeks. Using TipRanks’ Stock Comparison Tool, we will compare these two EV players to find the better pick ahead of the upcoming earnings results, according to Wall Street analysts.
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Tesla (NASDAQ:TSLA) Stock
Tesla remains one of the most recognized names in the electric vehicle industry, supported by its large global presence, advanced technology, and loyal customer base. The stock has gained about 100% over the past year and 7.9% year-to-date. Recently, Tesla reported 497,099 global vehicle deliveries in Q3, well above analysts’ expectations of 439,800, further lifting investor confidence.
Looking ahead, the company is set to report its Q3 2025 earnings next week on October 22. Wall Street expects Tesla to report earnings of $0.53 per share for Q3, down 26% from the year-ago quarter. Meanwhile, analysts project Q3 revenues at $26.14 billion, up 4% year-over-year.
Ahead of the results, Melius Research analyst Rob Wertheimer initiated coverage on Tesla with a Buy rating and a $520 price target, calling the stock “a must-own.” The price target of $520 implies a potential upside of 19% from current levels. TD Cowen analyst Itay Michaeli also raised his price target for Tesla to $509 and maintained a Buy rating. He cited stronger-than-expected third-quarter deliveries, the progress in autonomous driving, and the renewed focus on artificial intelligence as key reasons for his positive outlook.
Rivian Automotive (NASDAQ:RIVN) Stock
Rivian has become one of the most talked-about EV makers, though its stock remains volatile. Shares are up 26% over the past year but down 1.8% year-to-date. The company continues to expand production and its model lineup, delivering 13,200 vehicles in Q3, slightly above Wall Street’s estimate. Unlike Tesla, Rivian is still in its early growth stage and has yet to reach profitability.
Looking ahead, the company is set to report its Q3 2025 earnings early next month. Wall Street expects Rivian to report a loss of $0.74 per share. Meanwhile, revenues are expected to come in at $1.52 billion versus $874 million in the year-ago quarter, supported by growing demand for the R1S SUV and R1T pickup.
Ahead of the results, Barclays analyst Dan Levy maintained a Hold rating on Rivian with a $14 price target, following the company’s Q3 delivery update. Levy said Rivian’s delivery growth appeared “muted” compared with peers like Tesla, Ford (F), and General Motors (GM), but noted that improving gross margins and progress on the upcoming R2 launch could serve as key catalysts heading into 2025.
TSLA vs. RIVN: Which EV Stock Offers Higher Upside, According to Analysts?
Using TipRanks’ Stock Comparison Tool, we compared TSLA and RIVN to see which EV stock analysts favor ahead of earnings. Both stocks carry a Hold rating. Rivian’s price target of $13.83 suggests a potential 5.9% upside, while Tesla’s target of $365.88 implies a 16.06% downside from current levels.
Conclusion
Both Rivian and Tesla offer strong long-term potential but appeal to different investors. Tesla’s proven dominance and diversified operations make it a stable, innovation-led choice. Rivian, though riskier, is gaining traction and may offer greater upside for growth-focused investors.