New York, Feb 14, 2026, 14:02 EST — The session has ended.
- Rivian shares jumped Friday—the EV maker topped quarterly expectations and bumped up its 2026 delivery forecast.
- Analysts bumped up ratings and price targets, though concerns over execution and cash burn remained in focus.
- Rivian has circled March 12 for its R2 lineup update—investors will be watching for specifics.
Rivian Automotive jumped 26.6% to finish at $17.73 on Friday, fueled by the electric-vehicle company’s better-than-expected fourth-quarter results and guidance for a surge in deliveries as it gears up for the rollout of its lower-priced R2 SUV. Roughly 126.7 million shares changed hands—more than three times the stock’s three-month daily average—capping a bumpy stretch for growth names. 1
The move has thrown a spotlight back on Rivian’s pivot to more affordable vehicles, just as U.S. EV demand feels pressure from the end of a $7,500 federal tax credit and other shifting policies. Automakers are getting squeezed on pricing and launch timing. Rivian’s R2 is set to debut in the second quarter, starting near $45,000—right in the same range as Tesla’s Model Y. Piper Sandler analysts wrote, “nothing matters more than a timely launch” for the R2. “Rivian has had its fair share of problems… yet its fourth quarter results would suggest the business is finding its groove,” said AJ Bell’s Dan Coatsworth, head of markets. 2
Rivian’s SEC filing put fourth-quarter revenue at $1.286 billion, with a consolidated gross profit of $120 million. Net loss? $804 million. Looking ahead, the company is projecting 2026 deliveries somewhere between 62,000 and 67,000 vehicles. Adjusted EBITDA—losses expected in the $1.8 billion to $2.1 billion range—and capital expenditures pegged between $1.95 billion and $2.05 billion. Chief executive RJ Scaringe said Rivian is “focused on execution” for 2025, adding it’s “incredibly exciting” to see early feedback on the R2 as it gets ready for initial customer deliveries next quarter. 3
Rivian, in its shareholder letter, highlighted the R2’s focus on streamlining manufacturing and slashing costs. The first version out of the gate: a Dual-Motor AWD, delivering 0–60 mph in 3.6 seconds and offering 300-plus miles of range. Amazon, according to the company, now operates more than 30,000 Rivian electric delivery vans across the U.S. 4
Deutsche Bank’s Edison Yu bumped Rivian up to a “Buy” rating from “Hold” and lifted his target price to $23, previously $16, noting “early signs” of an improving outlook and calling the 2026 scenario “de-risked” as the R2 launch stays “on track for 2Q.” Over at UBS, Joseph Spak upgraded the stock to “Neutral” from “Sell,” putting the target at $16. Spak flagged the company’s guidance as having both “upside and risk,” and pointed out that cash burn and the R2 ramp could keep sentiment volatile. 5
But it’s not a straightforward picture. Rivian is signaling another tough year ahead—deep in the red, big cash burn. Miss the R2 launch timeline, or see new EV price cuts? This rally could unravel in a hurry.
The next check arrives fast: With U.S. stock markets shuttered for Presidents Day on Monday, trading resumes Tuesday—sharpening focus on whether Friday’s surge sticks. 6
After the open, traders are tuned in for analyst reactions, specifics on Rivian’s cost strategy as production scales, and signs that buyers are lining up for a lower-priced SUV—especially with the EV market looking uncertain.
Rivian set March 12 as the next key date, promising to share more on the R2 product and lineup details.
