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

Best Buy (NYSE:BBY) had its price target boosted by equities research analysts at Evercore from $70.00 to $75.00 in a report released on Wednesday, Marketbeat Ratings reports. Evercore’s target price points to a potential upside of 14.57% from the company’s previous close.

Several other analysts also recently weighed in on the company. BNP Paribas Exane lifted their target price on Best Buy from $68.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday. HSBC decreased their price objective on shares of Best Buy from $96.00 to $85.00 in a report on Thursday, February 26th. JPMorgan Chase & Co. downgraded shares of Best Buy from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $99.00 to $76.00 in a research note on Monday, February 2nd. Barclays reduced their target price on shares of Best Buy from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 8th. Finally, Piper Sandler reiterated a “buy” rating on shares of Best Buy in a report on Wednesday. Nine research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Best Buy currently has an average rating of “Hold” and a consensus price target of $76.20.

Best Buy Stock Down 2.9%

Shares of NYSE BBY opened at $65.46 on Wednesday. Best Buy has a 1 year low of $54.99 and a 1 year high of $84.99. The firm has a 50-day simple moving average of $66.70 and a two-hundred day simple moving average of $72.81. The company has a market cap of $13.69 billion, a P/E ratio of 12.99, a PEG ratio of 1.68 and a beta of 1.46. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.11 and a quick ratio of 0.26.

Best Buy (NYSE:BBY) last issued its quarterly earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.13. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The firm had revenue of $13.81 billion for the quarter, compared to the consensus estimate of $13.96 billion. During the same period in the prior year, the business posted $2.58 earnings per share. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Research analysts anticipate that Best Buy will post 6.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BBY. Vanguard Group Inc. lifted its position in Best Buy by 1.3% during 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 grew its holdings in Best Buy by 3.8% in the second quarter. State Street Corp now owns 13,631,429 shares of the technology retailer’s stock worth $927,753,000 after purchasing an additional 496,215 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Best Buy by 30.9% during the fourth quarter. AQR Capital Management LLC now owns 9,158,839 shares of the technology retailer’s stock worth $613,001,000 after purchasing an additional 2,160,968 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Best Buy by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,452,642 shares of the technology retailer’s stock valued at $498,805,000 after purchasing an additional 160,713 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Best Buy by 6.1% during the 4th quarter. Invesco Ltd. now owns 4,732,080 shares of the technology retailer’s stock valued at $316,718,000 after purchasing an additional 271,988 shares during 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: Q4 earnings beat, stronger margins and digital growth (Ads & Marketplace) drove an earlier rally and underlie the bullish case; management also raised the dividend, signaling cash returns to shareholders. BBY Jumps 7% as Q4 Earnings Beat Signals Strong Strategic Execution
• Positive Sentiment: Several analysts maintained or raised upside views (Evercore raised its PT to $75; BNP Paribas lifted to $74; Guggenheim reaffirmed a $90 PT), providing support that some firms see meaningful upside from current levels. Evercore raises PT to $75
• Positive Sentiment: Market coverage and commentary praised Best Buy’s strategic execution — AI-enabled customer experiences, small-format stores and its higher‑margin digital mix were cited as durable growth levers. BBY Jumps 7% as Q4 Earnings Beat
• Neutral Sentiment: Analysts and commentators praised management’s handling of headwinds — recognition of resilience, but not an immediate catalyst to push consensus materially higher. Best Buy draws praise from analysts
• Neutral Sentiment: UBS and others note FY27 guidance provides a cushion (management framed a steady outlook) — helpful for downside protection but slightly below some street expectations, leaving upside limited until sales momentum re‑accelerates. Fiscal 2027 outlook offers cushion
• Negative Sentiment: Multiple firms trimmed price targets and conservative stances proliferated (Daiwa to $68, Piper to $68, Morgan Stanley to $72, Telsey down to $80), which can trigger profit‑taking after the post‑earnings pop and cap near‑term upside. Daiwa lowers PT to $68
• Negative Sentiment: Near‑term demand risks flagged by Wedbush (memory pricing/shortages) and broader macro/geopolitical pressures on consumer spending are headwinds that could weigh on comparable sales and upward momentum. Best Buy Facing Near-Term Demand Challenges

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.