Best Buy (NYSE:BBY) Price Target Raised to $80.00

Best Buy (NYSE:BBY) had its target price increased by investment analysts at Daiwa Capital Markets from $76.00 to $80.00 in a research note issued to investors on Friday,MarketScreener reports. The brokerage presently has a “neutral” rating on the technology retailer’s stock. Daiwa Capital Markets’ target price would suggest a potential upside of 0.41% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. Morgan Stanley boosted their target price on shares of Best Buy from $75.00 to $82.00 and gave the stock an “equal weight” rating in a report on Wednesday. Evercore ISI upped their price objective on Best Buy from $80.00 to $85.00 and gave the company an “in-line” rating in a research report on Wednesday. Wells Fargo & Company raised their price objective on Best Buy from $67.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Jefferies Financial Group cut their target price on Best Buy from $95.00 to $94.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Wedbush restated a “neutral” rating and issued a $75.00 price target on shares of Best Buy in a research report on Thursday, November 20th. Eight investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $84.28.

Best Buy Price Performance

Shares of NYSE:BBY traded down $1.31 during mid-day trading on Friday, reaching $79.67. The stock had a trading volume of 339,550 shares, compared to its average volume of 3,601,634. The business’s 50 day moving average price is $77.83 and its 200 day moving average price is $73.37. Best Buy has a 1 year low of $54.99 and a 1 year high of $91.72. The company has a market cap of $16.74 billion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 2.21 and a beta of 1.25. The company has a current ratio of 1.04, a quick ratio of 0.36 and a debt-to-equity ratio of 0.43.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. The business had revenue of $9.67 billion for the quarter, compared to the consensus estimate of $9.57 billion. Best Buy had a return on equity of 47.32% and a net margin of 1.87%.The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 EPS. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Research analysts expect that Best Buy will post 6.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Best Buy news, CAO Mathew Watson sold 2,018 shares of Best Buy stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $76.76, for a total transaction of $154,901.68. Following the completion of the sale, the chief accounting officer directly owned 20,132 shares of the company’s stock, valued at $1,545,332.32. The trade was a 9.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Richard M. Schulze sold 500,000 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $80.83, for a total value of $40,415,000.00. Following the transaction, the chairman directly owned 12,486,904 shares in the company, valued at $1,009,316,450.32. The trade was a 3.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,733,111 shares of company stock worth $141,293,157. Corporate insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sage Private Wealth Group LLC raised its holdings in shares of Best Buy by 3.1% in the 3rd quarter. Sage Private Wealth Group LLC now owns 4,109 shares of the technology retailer’s stock valued at $311,000 after purchasing an additional 123 shares in the last quarter. LVW Advisors LLC raised its stake in Best Buy by 3.9% in the third quarter. LVW Advisors LLC now owns 3,633 shares of the technology retailer’s stock worth $275,000 after buying an additional 137 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Best Buy by 69.3% during the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock worth $25,000 after buying an additional 138 shares during the period. Huntington National Bank boosted its position in Best Buy by 12.0% during the 3rd quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock valued at $98,000 after acquiring an additional 139 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in shares of Best Buy by 1.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer’s stock valued at $639,000 after acquiring an additional 144 shares during the period. 80.96% of the stock is currently owned by institutional investors.

Best Buy Company Profile

Best Buy Co, Inc engages in the retail of technology products in the United States, Canada, and international. Its stores provide computing and mobile phone products, such as desktops, notebooks, and peripherals; mobile phones comprising related mobile network carrier commissions; networking products; tablets covering e-readers; smartwatches; and consumer electronics consisting of digital imaging, health and fitness products, portable audio comprising headphones and portable speakers, and smart home products, as well as home theaters, which includes home theater accessories, soundbars, and televisions.