Best Buy (NYSE:BBY) Price Target Lowered to $70.00 at Wedbush

Best Buy (NYSE:BBY) had its target price reduced by Wedbush from $80.00 to $70.00 in a research report sent to investors on Tuesday morning, Marketbeat.com reports. They currently have a neutral rating on the technology retailer’s stock.

A number of other research firms also recently issued reports on BBY. Weiss Ratings reiterated a “hold (c)” rating on shares of Best Buy in a report on Wednesday, January 21st. Piper Sandler decreased their price target on shares of Best Buy from $76.00 to $71.00 and set a “neutral” rating for the company in a research note on Monday. JPMorgan Chase & Co. cut shares of Best Buy from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $99.00 to $76.00 in a research report on Monday, February 2nd. The Goldman Sachs Group cut their price objective on shares of Best Buy from $95.00 to $93.00 and set a “buy” rating on the stock in a report on Wednesday, November 26th. Finally, Telsey Advisory Group raised their target price on shares of Best Buy from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, November 26th. Seven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $79.79.

Best Buy Stock Performance

Shares of BBY opened at $62.65 on Tuesday. The company has a 50-day simple moving average of $67.65 and a two-hundred day simple moving average of $73.18. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.05 and a quick ratio of 0.26. The firm has a market capitalization of $13.13 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 1.49 and a beta of 1.44. Best Buy has a one year low of $54.99 and a one year high of $91.20.

Best Buy (NYSE:BBY) last posted its earnings results 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. The firm had revenue of $9.67 billion for the quarter, compared to the consensus estimate of $9.57 billion. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.26 EPS. On average, analysts anticipate that Best Buy will post 6.18 EPS for the current fiscal year.

Institutional Trading of Best Buy

Institutional investors and hedge funds have recently modified their holdings of the business. Palisade Asset Management LLC purchased a new position in shares of Best Buy in the third quarter worth approximately $25,000. Harbor Capital Advisors Inc. increased its holdings in Best Buy by 69.3% during the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock valued at $25,000 after buying an additional 138 shares during the last quarter. MV Capital Management Inc. bought a new position in Best Buy in the fourth quarter worth approximately $25,000. Torren Management LLC purchased a new position in shares of Best Buy during the 4th quarter worth $25,000. Finally, Root Financial Partners LLC purchased a new position in shares of Best Buy during the 3rd quarter worth $32,000. 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: Telsey Advisory Group reaffirmed an “outperform” rating and set a $95 price target (roughly a >50% upside from current levels), signaling at least some bullish conviction that Best Buy could re‑rate if results or guidance beat expectations. Telsey reaffirmation
• Neutral Sentiment: Macro/tariff uncertainty returned after a new 15% U.S. tariff announcement — this adds a background risk for import‑dependent retailers like Best Buy but its ultimate impact depends on company commentary on supplier pricing and passthrough. Tariff story
• Neutral Sentiment: Broader retail/income ideas coverage mentioned Best Buy in thematic pieces this week (e.g., cash‑generating stocks lists) — useful context but unlikely to move the stock absent company‑specific news. Cash‑producing stocks
• Negative Sentiment: Earnings previews from Yahoo/Zacks forecast Q4 EPS pressure — analysts expect Best Buy lacks the setup for an earnings beat and see revenue/comps softness for the quarter, raising downside risk to near‑term estimates. Earnings preview
• Negative Sentiment: Wedbush flagged downside risks to Q4 comparable sales after a soft holiday season and cut its price target from $80 to $70 (while keeping a neutral rating), signaling lower conviction on near‑term upside. Wedbush note
• Negative Sentiment: Opinion pieces highlighting risks (“3 Reasons BBY is Risky”) reinforce bearish narratives around slowing demand and valuation compression, which can pressure sentiment ahead of the report. Risk article

About Best Buy

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.