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

Best Buy (NYSE:BBY) had its price target raised by DA Davidson from $90.00 to $95.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the technology retailer’s stock. DA Davidson’s target price suggests a potential upside of 15.10% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. Telsey Advisory Group lifted their target price on Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. BNP Paribas Exane raised their price objective on Best Buy from $74.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. The Goldman Sachs Group raised their price objective on Best Buy from $62.00 to $71.00 and gave the stock a “sell” rating in a research report on Friday. Daiwa Securities Group boosted their price objective on shares of Best Buy from $68.00 to $77.00 and gave the company a “neutral” rating in a report on Tuesday, June 2nd. Finally, Morgan Stanley set a $90.00 target price on shares of Best Buy in a research report on Friday. Eight research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $85.40.

Best Buy Trading Down 1.2%

Shares of NYSE BBY traded down $1.02 during midday trading on Friday, reaching $82.54. 633,160 shares of the stock were exchanged, compared to its average volume of 4,244,125. The company has a 50 day simple moving average of $83.01 and a 200 day simple moving average of $71.26. The stock has a market capitalization of $17.40 billion, a P/E ratio of 15.29, a PEG ratio of 2.50 and a beta of 1.29. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 1.12. Best Buy has a twelve month low of $55.10 and a twelve month high of $91.26.

Best Buy (NYSE:BBY) last released its quarterly earnings data on Thursday, August 27th. The technology retailer reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.08. The firm had revenue of $9.78 billion for 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 quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.28 earnings per share. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. As a group, equities analysts expect that Best Buy will post 6.6 earnings per share for the current year.

Insider Transactions at Best Buy

In related news, Chairman Richard M. Schulze sold 224,705 shares of Best Buy stock in a transaction on 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 directly owned 10,430,936 shares in the company, valued at approximately $814,656,101.60. This trade represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 500,000 shares of company stock valued at $39,065,226 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Best Buy

Several large investors have recently bought and sold shares of BBY. PFA Pension Forsikringsaktieselskab acquired a new position in shares of Best Buy during the fourth quarter worth $1,741,000. VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in Best Buy by 42.9% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 225,000 shares of the technology retailer’s stock valued at $15,059,000 after buying an additional 67,600 shares in the last quarter. Oxbow Advisors LLC purchased a new stake in Best Buy during the 4th quarter worth about $6,295,000. Crossmark Global Holdings Inc. lifted its holdings in Best Buy by 199.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 36,342 shares of the technology retailer’s stock worth $2,432,000 after buying an additional 24,219 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Best Buy by 8.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 478,965 shares of the technology retailer’s stock worth $33,180,000 after acquiring an additional 38,739 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

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.

Best Buy Company Profile

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.