Citigroup Has Lowered Expectations for Best Buy (NYSE:BBY) Stock Price

Best Buy (NYSE:BBY) had its price objective reduced by Citigroup from $82.00 to $67.00 in a note issued to investors on Friday,MarketScreener reports. The firm currently has a “neutral” rating on the technology retailer’s stock. Citigroup’s price target suggests a potential upside of 1.83% from the company’s previous close.

Several other analysts have also recently weighed in on BBY. BNP Paribas Exane dropped their price objective on shares of Best Buy from $69.00 to $68.00 and set a “neutral” rating for the company in a research note on Wednesday, November 26th. Wedbush reiterated a “neutral” rating and issued a $75.00 target price on shares of Best Buy in a research report on Thursday, November 20th. Wall Street Zen downgraded shares of Best Buy from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Jefferies Financial Group dropped their target price on Best Buy from $94.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, February 9th. Finally, Barclays reduced their price objective on shares of Best Buy from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 8th. Eight investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $80.05.

Best Buy Stock Performance

Shares of Best Buy stock opened at $65.80 on Friday. The firm has a market cap of $13.79 billion, a price-to-earnings ratio of 21.79, a price-to-earnings-growth ratio of 1.57 and a beta of 1.44. The stock’s 50-day moving average is $68.83 and its 200-day moving average is $73.21. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26. Best Buy has a one year low of $54.99 and a one year high of $91.68.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Tuesday, November 25th. The technology retailer reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.09. The firm had revenue of $9.67 billion for the quarter, compared to analyst estimates of $9.57 billion. Best Buy had a net margin of 1.54% and a return on equity of 50.02%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.26 EPS. Best Buy has set its FY 2026 guidance at 6.250-6.350 EPS. Equities analysts predict that Best Buy will post 6.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Best Buy

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Best Buy by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 24,255,320 shares of the technology retailer’s stock valued at $1,623,409,000 after acquiring an additional 307,905 shares during the last quarter. State Street Corp raised its position in Best Buy by 3.8% during the 2nd quarter. State Street Corp now owns 13,631,429 shares of the technology retailer’s stock valued at $927,753,000 after purchasing an additional 496,215 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Best Buy by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,452,642 shares of the technology retailer’s stock worth $498,805,000 after acquiring an additional 160,713 shares during the period. AQR Capital Management LLC boosted its stake in shares of Best Buy by 99.8% during the 3rd quarter. AQR Capital Management LLC now owns 6,997,871 shares of the technology retailer’s stock valued at $525,120,000 after purchasing an additional 3,496,254 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Best Buy by 15.8% during the 2nd quarter. Invesco Ltd. now owns 4,548,650 shares of the technology retailer’s stock valued at $305,351,000 after acquiring an additional 621,863 shares in the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.

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.