Rivian Automotive (RIVN 8.11%) gave investors an update last night, and the stock is soaring on the news. Shares of the electric vehicle (EV) maker spiked 28% higher to start Friday's trading session.
The company's earnings and 2026 guidance have shares holding onto a 20.5% gain as of 10:30 a.m. ET.
Image source: Rivian Automotive.
2026 shipments to soar
The big news from Rivian was expectations for its upcoming R2 model. It should become the company's flagship, with more affordable pricing than its luxury R1 series. While it is expected to start at about $45,000, the company will provide more details on pricing and options on March 12.
The bigger picture, though, is that management plans to deliver between 62,000 and 67,000 EVs this year. That would be about a 50% improvement over the 42,247 delivered in 2025. Rivian also achieved a positive gross profit of $120 million in Q4, impressing several analysts enough to raise Rivian's stock price targets. UBS analyst Joseph Spak moved his price target to $16, while Deutsche Bank analyst Edison Yu raised his target to $23 from $16, reports Barron's.
All eyes will be on the new R2 vehicle. The company is on track to begin customer deliveries in the second quarter of 2026. By the end of next year, CEO R.J. Scaringe told CNBC yesterday he expects the R2 will make up the "majority" of Rivian's volume.
NASDAQ: RIVN
Key Data Points
Investors are getting excited to see the next chapter in Rivian's growth. Expectations are high, but the company and its stock are off to a good start in 2026.
