Best Buy (NYSE:BBY) Stock Price Expected to Rise, Evercore ISI Analyst Says

Best Buy (NYSE:BBY) had its price objective raised by equities research analysts at Evercore ISI from $80.00 to $85.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “in-line” rating on the technology retailer’s stock. Evercore ISI’s price target points to a potential upside of 5.07% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Jefferies Financial Group reduced their price target on Best Buy from $95.00 to $94.00 and set a “buy” rating for the company in a research report on Tuesday. Barclays boosted their price target on Best Buy from $74.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Wall Street Zen lowered shares of Best Buy from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Truist Financial lifted their price target on Best Buy from $72.00 to $79.00 and gave the stock a “hold” rating in a report on Friday, November 7th. Finally, Wells Fargo & Company increased their target price on shares of Best Buy from $67.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Eight equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $84.53.

Best Buy Price Performance

BBY opened at $80.90 on Wednesday. The company has a fifty day moving average price of $77.83 and a two-hundred day moving average price of $73.37. The firm has a market capitalization of $17.00 billion, a PE ratio of 22.35, a P/E/G ratio of 2.21 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 1.04. 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 earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the firm earned $1.26 earnings per share. The company’s 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. As a group, analysts anticipate that Best Buy will post 6.18 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Mathew Watson sold 2,018 shares of Best Buy stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $76.76, for a total value of $154,901.68. Following the completion of the sale, the chief accounting officer owned 20,132 shares in the company, valued at $1,545,332.32. The trade was a 9.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Richard M. Schulze sold 500,000 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $80.83, for a total transaction of $40,415,000.00. Following the transaction, the chairman owned 12,486,904 shares in the company, valued at $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. Insiders sold a total of 1,733,111 shares of company stock worth $141,293,157 in the last 90 days. Corporate insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Best Buy

Hedge funds and other institutional investors have recently made changes to their positions in the business. IFM Investors Pty Ltd lifted its stake in Best Buy by 6.6% in the second quarter. IFM Investors Pty Ltd now owns 48,919 shares of the technology retailer’s stock worth $3,284,000 after purchasing an additional 3,040 shares during the last quarter. Alberta Investment Management Corp increased its holdings in shares of Best Buy by 25.6% in the first quarter. Alberta Investment Management Corp now owns 32,900 shares of the technology retailer’s stock worth $2,422,000 after buying an additional 6,700 shares during the period. Focus Partners Advisor Solutions LLC lifted its stake in shares of Best Buy by 191.9% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 10,714 shares of the technology retailer’s stock valued at $789,000 after acquiring an additional 7,043 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Best Buy in the 1st quarter valued at about $370,000. Finally, Conning Inc. boosted its holdings in Best Buy by 5.4% during the 2nd quarter. Conning Inc. now owns 479,055 shares of the technology retailer’s stock valued at $32,159,000 after acquiring an additional 24,741 shares during the period. 80.96% of the stock is 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.