Midday movers: Nvidia, Moderna rise; Etsy, Rivian fall

Rivian Automotive Inc (RIVN) PT Lowered to $12 at Barclays

Barclays analyst Dan Levy lowered the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $12.00 (from $16.00) while maintaining a Equalweight rating.

The analyst comments "Key takes: 1. Demand weakness materializing amid softer order book, '24 volume guide reflects demand challenges; 2. Mgmt reaffirmed gross... More

NVIDIA (NVDA) PT Raised to $925 at New Street Research

New Street Research analyst Pierre Ferragu raised the price target on NVIDIA (NASDAQ: NVDA) to $925.00 (from $535.00) while maintaining a Buy rating.

NVIDIA (NVDA) PT Raised to $1,400 at Rosenblatt

Rosenblatt analyst Hans Mosesmann raised the price target on NVIDIA (NASDAQ: NVDA) to $1,400.00 (from $1,100.00) while maintaining a Buy rating.

The analyst commented, "Once again Nvidia smashed numbers for the quarter and guide as Hopper and networking AI trends broadened in a... More

NVIDIA (NVDA) PT Raised to $840 at CFRA

CFRA analyst Angelo Zino raised the price target on NVIDIA (NASDAQ: NVDA) to $840.00 (from $700.00) while maintaining a Buy rating.

The analyst comments "We lift our 12-month target to $840 from $700, on P/E of 30x our CY 25 EPS view, above peers/ below... More

Analysts cut ratings on Rivian Automotive (RIVN) as EV slump extends

Analysts have moved to downgrade the shares of Rivian Automotive (NASDAQ: RIVN) on Thursday as the slump across electric vehicle stocks continues.

Electric Vehicle Stocks Decline

Shares of RIVN have declined more than 25% after the company's disappointing earnings release after the close on Wednesday. The company's production guidance also missed expectations when it said it would reduce its salaried workforce by around 10%.

Another EV company, Lucid Group, also forecast production below analyst expectations, with its share... More

CFRA Downgrades Rivian Automotive Inc (RIVN) to Sell

CFRA analyst Garrett Nelson downgraded Rivian Automotive Inc (NASDAQ: RIVN) from Hold to Sell with a price target of $10.00 (from $20.00).

The analyst comments "We cut our 12-month target to $10 from $20. We lower our adjusted EPS estimates to -$3.75 from -$3.00 for '24 and to -$3.00... More

Goldman Sachs explains why NVIDIA (NVDA) is up so much today

In a note to clients following NVIDIA's (NASDAQ: NVDA) earnings release, Goldman Sachs provided its thoughts on why Nvidia has risen so much beyond the obvious earnings and guidance beat.

Analysts at the firm said the setup into the print... More

JPMorgan Downgrades Rivian Automotive Inc (RIVN) to Underweight

JPMorgan analyst Ryan Brinkman downgraded Rivian Automotive Inc (NASDAQ: RIVN) from Neutral to Underweight with a price target of $11.00 (from $20.00).

The analyst comments "We are downgrading shares of Rivian Automotive (RIVN) to Underweight from Neutral after slashing our estimates and price target to account for substantially slower growth amidst continued large losses. The reasons for our downgrade are multifold, including: (1) The company has fallen far short of its own targets for vehicle sales and production, let alone the seemingly much more ebullient expectations of its investors, and disappointing new guidance revealed yesterday... More

NVIDIA on track to beat Meta Platforms record with market cap increase

NVIDIA (NASDAQ: NVDA) is on track to beat Meta Platforms' (NASDAQ: META) record stock market session on Thursday after its latest earnings release propelled its share price higher.

The company, which is benefitting significantly from the strong... More