DA Davidson Lowers Best Buy (NYSE:BBY) Price Target to $85.00

Best Buy (NYSE:BBY) had its target price cut by equities researchers at DA Davidson from $90.00 to $85.00 in a note issued to investors on Wednesday,MarketScreener reports. The brokerage currently has a “buy” rating on the technology retailer’s stock. DA Davidson’s price objective points to a potential upside of 29.85% from the company’s previous close.

Several other equities research analysts have also commented on BBY. Loop Capital boosted their target price on shares of Best Buy from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, November 25th. UBS Group raised their price objective on shares of Best Buy from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 26th. Morgan Stanley decreased their price objective on shares of Best Buy from $82.00 to $76.00 and set an “equal weight” rating on the stock in a report on Thursday, January 15th. Wall Street Zen cut shares of Best Buy from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Jefferies Financial Group reduced their price target on shares of Best Buy from $94.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, February 9th. Nine 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $76.20.

Best Buy Stock Performance

NYSE BBY opened at $65.46 on Wednesday. The stock has a market capitalization of $13.69 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 1.68 and a beta of 1.46. The business’s 50 day moving average is $66.70 and its two-hundred day moving average is $72.81. Best Buy has a 12-month low of $54.99 and a 12-month high of $84.99. The company has a current ratio of 1.11, a quick ratio of 0.26 and a debt-to-equity ratio of 0.39.

Best Buy (NYSE:BBY) last posted its quarterly earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 EPS for the quarter, beating 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 business had revenue of $13.81 billion during the quarter, compared to analysts’ expectations of $13.96 billion. During the same period last year, the firm earned $2.58 EPS. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Research analysts expect that Best Buy will post 6.18 EPS for the current year.

Institutional Trading of Best Buy

Several large investors have recently modified their holdings of BBY. Bayban purchased a new position in shares of Best Buy during the 4th quarter worth approximately $33,000. Tulsa Wealth Advisors INC purchased a new stake in Best Buy in the 4th quarter valued at approximately $2,851,000. Caitong International Asset Management Co. Ltd purchased a new stake in Best Buy in the 4th quarter valued at approximately $404,000. Avory & Company LLC grew its holdings in Best Buy by 6.4% during the 4th quarter. Avory & Company LLC now owns 3,479 shares of the technology retailer’s stock valued at $233,000 after buying an additional 210 shares during the last quarter. Finally, SG Trading Solutions LLC purchased a new position in Best Buy during the fourth quarter worth $207,000. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Best Buy

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.