Earnings Previews: Bakkt, Coupang, Disney, Rivian

Analysts remain bullish on the stock. Of 29 brokerages covering the firm, 22 have a Buy or Strong Buy rating, and the rest rate the stock at Hold. At a share price of around $106.70, the upside potential based on a median price target of $182.00 is about 79.3%. At the high target of $229.00, the upside potential is 122.3%.

Fiscal second-quarter revenue is forecast at $20.04 billion, down 8.2% sequentially but up 28.4% year over year. Adjusted earnings per share (EPS) are pegged at $1.19, up 12.1% sequentially and 50.6% year over year. For fiscal 2022, analysts currently expect Disney to report EPS of $4.43, up 90.4%, on sales of $84.67 billion, up 25.6%.

Disney stock trades at 24.0 times expected 2022 earnings, 18.9 times estimated 2023 earnings of $5.63 per share and 16.0 times estimated 2024 earnings of $6.65 per share. The stock’s 52-week range is $106.48 to $187.58. The low was posted Monday. Disney has suspended its dividend. Total shareholder return for the past year was negative 42.2%.


Since its initial public offering in early November of last year, shares of Rivian Automotive Inc. (NASDAQ: RIVN) soared to a gain of nearly 120%, before dropping to their current level of down 78% since the IPO. The stock took a big hit Monday, the day its lockup period for insiders and early investors ended. Following a report that Ford would sell 8 million shares (about 7.8% of its total stake in Rivian) and that Amazon also would be selling, retail investors picked up some of the slack, but not enough to keep the stock from tumbling to a new post-IPO low earlier in the morning.

Of 16 analysts covering the stock, 11 have a Buy or Strong Buy rating and four more have a Hold rating. At a share price of around $21.90, the upside potential based on a median price target of $84.50 is 286%. At the high target of $147.00, the upside potential is 531%.

Analysts expect Rivian to report fiscal first-quarter sales of $128.74 million and an adjusted loss per share of $1.66. Revenue would be up 138.4% sequentially and the loss per share better than the prior quarter’s loss of $2.43. For the full 2022 fiscal year ending in December, analysts are forecasting an adjusted loss per share of $6.92 on sales of $1.93 billion. The expected loss per share is less than half the 2021 loss per share of $14.78, while the revenue estimate is about 3,400% higher.

Rivian is not expected to post a profit in 2022, 2023 or 2024. The stock’s 52-week range is $21.82 to $179.47.

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