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

Best Buy (NYSE:BBY) had its price target increased by investment analysts at Guggenheim from $90.00 to $95.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the technology retailer’s stock. Guggenheim’s target price would indicate a potential upside of 13.41% from the company’s previous close.

Several other research firms have also issued reports on BBY. Weiss Ratings upgraded shares of Best Buy from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 29th. Bank of America assumed coverage on shares of Best Buy in a research note on Monday, August 3rd. They issued an “underperform” rating and a $80.00 price target on the stock. Loop Capital lowered 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. Daiwa Securities Group upped their price objective on shares of Best Buy from $68.00 to $77.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 2nd. Finally, Wedbush reissued a “buy” rating on shares of Best Buy in a research note on Monday. Seven investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Best Buy has a consensus rating of “Hold” and an average price target of $84.45.

Best Buy Stock Down 4.2%

BBY opened at $83.77 on Friday. The stock’s fifty day simple moving average is $83.01 and its 200 day simple moving average is $71.26. The company has a current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. The stock has a market cap of $17.66 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 2.50 and a beta of 1.29. Best Buy has a 1-year low of $55.10 and a 1-year high of $91.26.

Best Buy (NYSE:BBY) last released its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.08. The business had revenue of $9.78 billion during the quarter, compared to analysts’ expectations of $9.59 billion. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the firm posted $1.28 EPS. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. As a group, research analysts expect that Best Buy will post 6.6 earnings per share for the current year.

Insider Activity at Best Buy

In other news, Chairman Richard M. Schulze sold 224,705 shares of the stock in a transaction on Friday, June 26th. The shares were sold at an average price of $78.10, for a total transaction of $17,549,460.50. Following the completion of the sale, the chairman directly owned 10,430,936 shares in the company, valued at $814,656,101.60. This represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 500,000 shares of company stock valued at $39,065,226. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Best Buy during the 2nd quarter valued at about $1,932,812,000. Vanguard Group Inc. grew its holdings in shares of Best Buy by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 24,255,320 shares of the technology retailer’s stock valued at $1,623,409,000 after buying an additional 307,905 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Best Buy by 8,279.9% during the second quarter. California State Teachers Retirement System now owns 22,175,854 shares of the technology retailer’s stock worth $1,682,704,000 after acquiring an additional 21,911,223 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Best Buy by 30.9% in the 4th quarter. AQR Capital Management LLC now owns 9,158,839 shares of the technology retailer’s stock worth $613,001,000 after acquiring an additional 2,160,968 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Best Buy by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,452,642 shares of the technology retailer’s stock valued at $498,805,000 after purchasing an additional 160,713 shares during the last quarter. 80.96% of the stock is owned by institutional investors.

Key Best Buy News

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

• Positive Sentiment: Q2 results exceeded expectations. Revenue rose 3.6% year over year to $9.78 billion, above the $9.59 billion consensus estimate, while adjusted EPS of $1.47 surpassed estimates near $1.39 and increased from $1.28 a year earlier. Best Buy Reports Second Quarter Results
• Positive Sentiment: Comparable sales showed improving momentum. Enterprise comparable sales grew 4.1%, led by 4.5% growth in the domestic segment. Computing products, technology upgrades, replacements, AI glasses and collectibles reportedly supported demand. Best Buy tops quarterly estimates, raises outlook as computing shows strength
• Positive Sentiment: Management raised its fiscal 2027 outlook. Adjusted EPS is now forecast at $6.70–$6.90, up from $6.30–$6.60, while revenue guidance increased to $42.3–$42.8 billion. Both ranges are above analyst expectations. Best Buy raises annual sales forecast on steady electronics demand
• Positive Sentiment: Shareholder returns remain attractive. Best Buy declared a quarterly dividend of $0.96 per share, equivalent to approximately $3.84 annually and a reported yield of about 4.6%, subject to the stated September 17 ex-dividend and record dates.
• Neutral Sentiment: Best Buy is expanding its omnichannel strategy through smaller-format stores and “Ask Blue,” a conversational artificial-intelligence assistant intended to improve online and in-store customer engagement. Best Buy Expands Omnichannel Footprint With OpenAI Integration and Smaller-Format Stores
• Negative Sentiment: BBY shares decreased despite the earnings beat. The market reaction suggests investors may have already priced in a strong quarter, while concerns remain about cautious consumers, thin retail margins and the sustainability of the computing-led improvement. International revenue also declined year over year. Best Buy shares fall despite Q2 earnings and revenue beat
• Negative Sentiment: An incoming CEO transition adds an additional execution variable as Best Buy works to sustain sales growth and improve its longer-term retail trajectory.

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.