Needham Lowers Rivian Price Target to $18
- Rating
- Buy
- Target
- $18
- from $23 (−22%)
- Upside
- +57%
- RIVN at $11.45 today
What the analyst said
Needham analyst Chris Pierce lowered the price target on Rivian (NASDAQ: RIVN) to $18 (from $23) while maintaining a Buy rating.
“We reiterate our Buy rating but lower our price target to $18 following 3Q results and commentary.
RIVN cleared the key concern entering the print, with R2 (not commercial vans) becoming its best selling vehicle and driving much of the sequential delivery growth, while above plan reservation conversion and record test drives support demand.
The second R2 shift is underway, and RIVN reiterated a positive automotive gross margin exit rate to FY26.
Autonomy remains the next catalyst heading into the December 9 Autonomy & AI Day, although the broader point to point release looks to have shifted into 2027.
Our $18 price target is 15x EV/our FY29E adj.
EBITDA discounted back, down from 20x prior to better reflect the downward pressure rising interest rates put on companies reliant on longer dated estimates.”
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.
This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.
Where the price stands
RIVN trades at $11.45. The 7 analysts who set a target in the last 3 months range from $17 to $23, with a median of $19. This $18 target is 5% below the median.
12-month window: day 0 of 365, closes on October 30, 2027.
Track record
This callOpen: a 12-month target, scored on October 30, 2027, a year after the note.
Firm track recordNeedham: 100% of its 6 targets at least a year old were reached within 12 months. Accuracy ranking →
Needham on Rivian
Needham price targets on Rivian
6 calls from August 25, 2025 to October 30, 2026. The target went from $14 to $18 (+29%). The rating stayed Buy.
- October 30, 2026 This noteTarget cut from $23 (−22%)Buy$18
- August 10, 2026Kept the $23 targetBuy$23
- June 10, 2026Kept the $23 targetBuy$23
- May 1, 2026Kept the $23 targetBuy$23
- December 12, 2025Target raised from $14 (+64%)Buy$23
- August 25, 2025Earliest call shownBuy$14
