Rivian (RIVN, Financial) has announced a workforce reduction, affecting roughly 1% of its employees, approximately 140 people, as it prepares for the launch of its R2 SUV in 2026. The job cuts primarily impacted the manufacturing department and have been taking place since Wednesday, according to former employees. Rivian confirmed the decision, stating it was a part of their ongoing strategy to enhance operational efficiency for the upcoming R2 vehicle.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 27 analysts, the average target price for Rivian Automotive Inc (RIVN, Financial) is $15.05 with a high estimate of $23.00 and a low estimate of $7.05. The average target implies an upside of 7.72% from the current price of $13.98. More detailed estimate data can be found on the Rivian Automotive Inc (RIVN) Forecast page.
Based on the consensus recommendation from 31 brokerage firms, Rivian Automotive Inc's (RIVN, Financial) average brokerage recommendation is currently 2.7, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Rivian Automotive Inc (RIVN, Financial) in one year is $29.52, suggesting a upside of 111.23% from the current price of $13.975. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Rivian Automotive Inc (RIVN) Summary page.
