Daiwa Capital Markets Issues Positive Forecast for Best Buy (NYSE:BBY) Stock Price

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

BBY has been the topic of several other research reports. Wedbush restated a “neutral” rating and set a $75.00 price objective on shares of Best Buy in a report on Thursday, November 20th. Weiss Ratings restated a “hold (c)” rating on shares of Best Buy in a research note on Wednesday, October 8th. Guggenheim reaffirmed a “buy” rating and issued a $90.00 price target on shares of Best Buy in a report on Wednesday. Bank of America dropped their price objective on shares of Best Buy from $63.00 to $60.00 and set an “underperform” rating on the stock in a report on Friday, August 29th. Finally, JPMorgan Chase & Co. raised their target price on Best Buy from $97.00 to $99.00 in a research note on Tuesday. Eight equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Best Buy currently has an average rating of “Hold” and a consensus target price of $84.28.

Best Buy Stock Down 1.6%

NYSE BBY traded down $1.31 on Friday, hitting $79.67. The stock had a trading volume of 339,550 shares, compared to its average volume of 3,601,634. The business’s fifty day moving average price is $77.83 and its 200 day moving average price is $73.37. The stock has a market cap of $16.74 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 2.21 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.04 and a quick ratio of 0.36. Best Buy has a 52-week low of $54.99 and a 52-week high of $91.72.

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

Insider Activity at Best Buy

In related news, CAO Mathew Watson sold 2,018 shares of Best Buy stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 20,132 shares in the company, valued at approximately $1,545,332.32. This trade represents a 9.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Richard M. Schulze sold 500,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chairman owned 12,486,904 shares in the company, valued at approximately $1,009,316,450.32. This represents a 3.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 1,733,111 shares of company stock valued at $141,293,157. 0.47% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BBY. Palisade Asset Management LLC purchased a new position in shares of Best Buy in the 3rd quarter valued at about $25,000. Harbor Capital Advisors Inc. grew its holdings in Best Buy by 69.3% in the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after purchasing an additional 138 shares during the period. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of Best Buy in the second quarter valued at approximately $26,000. Root Financial Partners LLC acquired a new position in shares of Best Buy during the 3rd quarter worth approximately $32,000. Finally, CYBER HORNET ETFs LLC acquired a new stake in Best Buy in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 80.96% of the company’s stock.

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.