BNP Paribas Exane Issues Pessimistic Forecast for Best Buy (NYSE:BBY) Stock Price

Best Buy (NYSE:BBY) had its price objective dropped by BNP Paribas Exane from $69.00 to $68.00 in a report released on Wednesday,MarketScreener reports. The firm currently has a “neutral” rating on the technology retailer’s stock. BNP Paribas Exane’s price objective points to a potential downside of 15.95% from the company’s previous close.

Several other equities analysts also recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Best Buy in a report on Wednesday, October 8th. Wells Fargo & Company boosted their price objective on Best Buy from $67.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Argus restated a “hold” rating on shares of Best Buy in a report on Tuesday, September 16th. Evercore ISI raised their target price on Best Buy from $80.00 to $85.00 and gave the stock an “in-line” rating in a research note on Wednesday. Finally, Bank of America decreased 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. Eight investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $84.53.

Best Buy Stock Performance

Shares of NYSE:BBY opened at $80.90 on Wednesday. The firm’s 50 day simple moving average is $77.83 and its 200-day simple moving average is $73.37. 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 one year low of $54.99 and a one year high of $91.72. The firm has a market cap of $17.00 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 2.21 and a beta of 1.25.

Best Buy (NYSE:BBY) last announced its quarterly earnings results on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter last year, the firm posted $1.26 earnings per share. The business’s revenue for the quarter 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, equities analysts predict that Best Buy will post 6.18 EPS for the current year.

Insider Buying and Selling at Best Buy

In other Best Buy news, CAO Mathew Watson sold 2,018 shares of the firm’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $76.76, for a total value of $154,901.68. Following the sale, the chief accounting officer directly owned 20,132 shares in the company, valued at $1,545,332.32. This trade represents a 9.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Richard M. Schulze sold 74,553 shares of the company’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $84.31, for a total value of $6,285,563.43. Following the transaction, the chairman directly owned 11,451,911 shares of the company’s stock, valued at approximately $965,510,616.41. This represents a 0.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,733,111 shares of company stock valued at $141,293,157. Corporate insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Best Buy

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

About Best Buy

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.