The Goldman Sachs Group Issues Pessimistic Forecast for Best Buy (NYSE:BBY) Stock Price

Best Buy (NYSE:BBY) had its price target lowered by equities research analysts at The Goldman Sachs Group from $93.00 to $76.00 in a report released on Wednesday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the technology retailer’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 16.10% from the company’s previous close.

Several other equities research analysts have also recently commented on BBY. Loop Capital increased their price target on Best Buy from $80.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Truist Financial dropped their target price on Best Buy from $73.00 to $66.00 and set a “hold” rating for the company in a report on Tuesday. Jefferies Financial Group reduced their price target on Best Buy from $94.00 to $89.00 and set a “buy” rating on the stock in a report on Monday, February 9th. HSBC lowered their price target on shares of Best Buy from $96.00 to $85.00 in a research report on Thursday, February 26th. Finally, Wells Fargo & Company cut their price objective on shares of Best Buy from $75.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 18th. Nine research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Best Buy currently has a consensus rating of “Hold” and a consensus price target of $76.20.

Best Buy Price Performance

Shares of NYSE BBY opened at $65.46 on Wednesday. The firm has a 50-day simple moving average of $66.70 and a 200-day simple moving average of $72.81. The company has a quick ratio of 0.26, a current ratio of 1.11 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $13.69 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 1.68 and a beta of 1.46. Best Buy has a 52 week low of $54.99 and a 52 week high of $84.99.

Best Buy (NYSE:BBY) last announced its quarterly earnings data on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.48 by $0.13. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. The company had revenue of $13.81 billion during the quarter, compared to analysts’ expectations of $13.96 billion. During the same quarter in the prior year, the company earned $2.58 EPS. Best Buy’s 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. On average, equities analysts predict that Best Buy will post 6.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BBY. Sage Private Wealth Group LLC increased its position in shares of Best Buy by 3.1% during the third quarter. Sage Private Wealth Group LLC now owns 4,109 shares of the technology retailer’s stock valued at $311,000 after acquiring an additional 123 shares during the last quarter. LVW Advisors LLC lifted its holdings in shares of Best Buy by 3.9% in the 3rd quarter. LVW Advisors LLC now owns 3,633 shares of the technology retailer’s stock worth $275,000 after acquiring an additional 137 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Best Buy by 69.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 337 shares of the technology retailer’s stock worth $25,000 after purchasing an additional 138 shares during the period. Huntington National Bank increased its holdings in Best Buy by 12.0% in the 3rd quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock valued at $98,000 after purchasing an additional 139 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in Best Buy by 1.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer’s stock valued at $639,000 after purchasing an additional 144 shares during the last quarter. Institutional investors and hedge funds 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.