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

Best Buy (NYSE:BBY) had its target price cut by equities research analysts at HSBC from $96.00 to $85.00 in a research note issued on Thursday,MarketScreener reports. HSBC’s price target indicates a potential upside of 37.26% from the stock’s current price.

A number of other research firms also recently weighed in on BBY. Citigroup reduced their price target on shares of Best Buy from $82.00 to $67.00 and set a “neutral” rating on the stock in a research note on Friday, February 13th. Barclays cut 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. Wells Fargo & Company decreased their target price on shares of Best Buy from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 18th. Piper Sandler dropped their price target on Best Buy from $76.00 to $71.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Truist Financial reduced their price objective on Best Buy from $77.00 to $73.00 and set a “hold” rating on the stock in a research report on Friday, January 16th. Seven equities research 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $80.05.

Best Buy Stock Down 1.5%

NYSE BBY opened at $61.93 on Thursday. The business has a fifty day moving average price of $67.09 and a two-hundred day moving average price of $72.99. The stock has a market capitalization of $12.98 billion, a PE ratio of 20.51, a PEG ratio of 1.50 and a beta of 1.44. Best Buy has a fifty-two week low of $54.99 and a fifty-two week high of $90.86. 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 (NYSE:BBY) last posted its quarterly earnings results on Tuesday, November 25th. The technology retailer reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.09. The company had revenue of $9.67 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.Best Buy’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.26 EPS. Equities analysts expect that Best Buy will post 6.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Best Buy

A number of institutional investors have recently made changes to their positions in the stock. Palisade Asset Management LLC acquired a new stake in shares of Best Buy during the 3rd quarter worth approximately $25,000. Harbor Capital Advisors Inc. boosted its stake in Best Buy by 69.3% during the third quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock worth $25,000 after acquiring an additional 138 shares in the last quarter. MV Capital Management Inc. bought a new position in Best Buy during the fourth quarter worth $25,000. Torren Management LLC acquired a new stake in Best Buy in the fourth quarter worth $25,000. Finally, Root Financial Partners LLC bought a new stake in Best Buy in the third quarter valued at $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 reiterated an Outperform rating on BBY, signaling at least one major shop has confidence in Best Buy’s longer-term playbook. Telsey Reiterates Outperform
• Positive Sentiment: GoPro and ASUS launched a co-branded ProArt laptop that will be sold exclusively at Best Buy in the U.S., providing a small but tangible product-differentiation and traffic driver in the near term. GoPro/ASUS ProArt at Best Buy
• Neutral Sentiment: Macro/AI uncertainty is a market-wide theme — commentary notes AI could both help and hurt sectors; this keeps discretionary retailers like Best Buy exposed to sentiment swings around tech spending. AI disruption looms over markets
• Neutral Sentiment: Analyst-model coverage (Zacks) highlights the key metrics investors will watch in BBY’s Q4 — same-store sales, AURs, services/Total Tech attach and margin drivers — useful context but no consensus surprise implied yet. Zacks Analyst Projections for BBY Q4
• Neutral Sentiment: Consensus analyst recommendation sits at “Hold,” reflecting mixed views across the sell-side and limited near-term conviction. Consensus “Hold” for Best Buy
• Negative Sentiment: HSBC lowered its price target on BBY from $96 to $85, signaling reduced optimism on Best Buy’s recovery momentum and contributing to downward pressure on the stock. HSBC cuts BBY price target
• Negative Sentiment: Wedbush trimmed its target to $70 (from $80) while staying Neutral, reflecting cautious near-term expectations and signaling limited upside in the near term. Wedbush cautious on Best Buy
• Negative Sentiment: UBS expects a tough fiscal Q4 with sales down ~2% amid intensifying competition — this guidance/expectation directly pressures near-term revenue and margins, a likely catalyst for today’s selloff. UBS sees tough Q4 for Best Buy

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.