Shares of Rivian Automotive (RIVN) rose more than 8% on Monday after bullish analyst commentary. Third-quarter revenue climbed 38% year over year to nearly $2.2 billion, while deliveries rose 46% to 19,248 vehicles, driven by the new midsize SUV R2. CEO RJ Scaringe said customer and media feedback on the R2 has been exceptional. Rivian raised its full-year delivery target to 67,000–70,000 vehicles from 65,000–70,000. UBS analyst Joseph Spak sees the share price rising another 30% to $17 and expects faster R2 sales to lift margins; adjusted net loss per share narrowed to $0.48 from $0.65, and software and services revenue rose 45% to $605 million while gross profit rose 66% to $256 million.
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| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 11/02/2026 | 202.06 |
| Change that session | -1.26% |
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Rivian (NASDAQ:RIVN) rose about 5% to $12.06 after its Q3 2026 results beat expectations, with revenue up 38% year over year to $2.155 billion versus the $2.02 billion Bloomberg consensus. The company raised the low end of its 2026 delivery guidance to 67,000 vehicles, citing its cheaper R2 SUV, and delivered 19,248 vehicles in the quarter, up 46%. Still, Rivian remains loss-making, its stock is down 40% year to date, and Mizuho cut its price target to $10 from $13 while keeping an Underperform rating, arguing R2 could cannibalize some R1 demand. In the same session, Tesla fell 3%, Lucid slid 2% and Ford eased 0.8%.
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Rivian (RIVN) posted an adjusted loss of 48 cents per share in the third quarter, narrower than the 65 cents a year earlier, while revenue rose 38% to $2.16 billion on record deliveries, regulatory credits and software growth. Deliveries jumped 46% to 19,248 units, and the R2 SUV became Rivian's best-selling vehicle. Automotive cost of goods sold per vehicle improved by more than $12,000 sequentially, and management raised full-year 2026 delivery guidance to 67,000–70,000 units while tightening its adjusted EBITDA loss guidance to $1.75–$1.85 billion. Free cash outflow, however, widened to $1.12 billion, and Rivian still needs to scale beyond its current R2 production plan of 160,000 units to reach overall profitability.
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