Best Buy (NYSE:BBY) Price Target Raised to $95.00

Best Buy (NYSE:BBY) had its price objective increased by DA Davidson from $90.00 to $95.00 in a report released on Friday, Marketbeat.com reports. They currently have a buy rating on the technology retailer’s stock.

Other analysts also recently issued reports about the stock. The Goldman Sachs Group increased their price objective on shares of Best Buy from $62.00 to $71.00 and gave the company a “sell” rating in a research report on Friday. Citigroup lifted their target price on shares of Best Buy from $79.00 to $88.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Weiss Ratings upgraded shares of Best Buy from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 29th. Loop Capital cut shares of Best Buy from a “buy” rating to a “hold” rating and set a $82.00 price target on the stock. in a report on Monday, July 13th. Finally, BNP Paribas Exane raised their price target on shares of Best Buy from $74.00 to $76.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Seven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Best Buy has a consensus rating of “Hold” and an average target price of $85.40.

Best Buy Trading Down 0.1%

Best Buy stock opened at $82.34 on Friday. Best Buy has a 12 month low of $55.10 and a 12 month high of $91.26. The company has a market capitalization of $17.35 billion, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 2.29 and a beta of 1.29. The business’s fifty day simple moving average is $83.16 and its two-hundred day simple moving average is $71.37. The company has a current ratio of 1.12, a quick ratio of 0.41 and a debt-to-equity ratio of 0.36.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.08. The firm had revenue of $9.78 billion during the quarter, compared to the consensus estimate of $9.59 billion. Best Buy had a return on equity of 48.14% and a net margin of 3.01%.The company’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the company earned $1.28 earnings per share. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. As a group, equities analysts predict that Best Buy will post 6.79 earnings per share for the current fiscal year.

Best Buy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Thursday, September 17th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 4.7%. The ex-dividend date is Thursday, September 17th. Best Buy’s dividend payout ratio (DPR) is presently 63.89%.

Insiders Place Their Bets

In other Best Buy news, Chairman Richard M. Schulze sold 224,705 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $78.10, for a total value of $17,549,460.50. Following the completion of the transaction, the chairman owned 10,430,936 shares of the company’s stock, valued at approximately $814,656,101.60. The trade was a 2.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 500,000 shares of company stock valued at $39,065,226. 0.50% of the stock is currently owned by insiders.

Institutional Trading of Best Buy

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Best Buy in the 2nd quarter worth approximately $1,932,812,000. California State Teachers Retirement System lifted its holdings in shares of Best Buy by 8,279.9% during the 2nd quarter. California State Teachers Retirement System now owns 22,175,854 shares of the technology retailer’s stock valued at $1,682,704,000 after buying an additional 21,911,223 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Best Buy by 99.8% during the 3rd quarter. AQR Capital Management LLC now owns 6,997,871 shares of the technology retailer’s stock valued at $525,120,000 after buying an additional 3,496,254 shares during the period. Norges Bank purchased a new position in shares of Best Buy in the 4th quarter worth $174,685,000. Finally, Schroder Investment Management Group boosted its stake in shares of Best Buy by 378.8% in the 4th quarter. Schroder Investment Management Group now owns 3,096,015 shares of the technology retailer’s stock worth $207,216,000 after buying an additional 2,449,342 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors.

Trending Headlines about Best Buy

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Quarterly results exceeded expectations. Best Buy reported Q2 FY27 revenue of $9.78 billion, up 3.6% year over year and above the $9.59 billion consensus estimate. Adjusted earnings of $1.47 per share also topped the $1.39 consensus, while comparable sales rose 4.1%. Best Buy Reports Second Quarter Results
• Positive Sentiment: Best Buy raised its full-year outlook. The company now expects adjusted fiscal 2027 earnings of $6.70 to $6.90 per share, up from $6.30 to $6.60 previously, and revenue of $42.3 billion to $42.8 billion. The improved forecast reflects strength in computing and steady demand for technology upgrades and replacements. Best Buy raises annual sales forecast on steady electronics demand
• Positive Sentiment: Analyst sentiment improved. Guggenheim and DA Davidson each raised their BBY price target from $90 to $95 and assigned a “buy” rating, implying roughly 15% upside from the referenced price.
• Positive Sentiment: Shareholder returns remain attractive. Best Buy declared a quarterly dividend of $0.96 per share, equivalent to an annualized yield of approximately 4.7% at the referenced price.
• Neutral Sentiment: Growth initiatives could support the longer-term retail recovery. Best Buy is expanding its omnichannel strategy, including the Ask Blue conversational AI assistant and smaller-format stores, while digital-led sales growth was highlighted during the earnings call. Best Buy Expands Omnichannel Footprint With OpenAI Integration and Smaller-Format Stores
• Negative Sentiment: The negative market reaction likely reflects high expectations and lingering risks. Although results beat estimates, the outlook increase was relatively modest versus consensus, international revenue declined, and investors remain cautious about discretionary spending. Analysts are also described as conflicted on BBY, suggesting uncertainty about how durable the recovery will be. Analysts Conflicted on These Consumer Cyclical Names

About Best Buy

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.