Piper Sandler Issues Pessimistic Forecast for Best Buy (NYSE:BBY) Stock Price

Best Buy (NYSE:BBY) had its price objective dropped by equities research analysts at Piper Sandler from $71.00 to $68.00 in a report issued on Wednesday, Marketbeat Ratings reports. The firm presently has a “neutral” rating on the technology retailer’s stock. Piper Sandler’s price target indicates a potential upside of 3.88% from the stock’s current price.

BBY has been the topic of a number of other research reports. Evercore reduced their target price on Best Buy from $80.00 to $70.00 and set an “in-line” rating on the stock in a report on Tuesday, February 3rd. Truist Financial lowered their price target on Best Buy from $73.00 to $66.00 and set a “hold” rating for the company in a report on Tuesday. Wedbush reduced their price objective on Best Buy from $80.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 24th. Guggenheim reiterated a “buy” rating and issued a $90.00 target price on shares of Best Buy in a research report on Wednesday, November 26th. Finally, Citigroup dropped their target price on shares of Best Buy from $82.00 to $67.00 and set a “neutral” rating for the company in a report on Friday, February 13th. 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.20.

Best Buy Trading Down 2.9%

Shares of Best Buy stock opened at $65.46 on Wednesday. The company has a quick ratio of 0.26, a current ratio of 1.11 and a debt-to-equity ratio of 0.39. Best Buy has a 12-month low of $54.99 and a 12-month high of $84.99. The company 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 firm’s 50-day moving average price is $66.70 and its two-hundred day moving average price is $72.81.

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 analysts’ consensus estimates of $2.48 by $0.13. The company had revenue of $13.81 billion during the quarter, compared to the consensus estimate of $13.96 billion. Best Buy had a net margin of 2.56% and a return on equity of 49.17%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.58 EPS. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, analysts forecast that Best Buy will post 6.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. 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 worth $311,000 after buying an additional 123 shares during the period. LVW Advisors LLC lifted its holdings in Best Buy by 3.9% in the third quarter. LVW Advisors LLC now owns 3,633 shares of the technology retailer’s stock valued at $275,000 after buying an additional 137 shares during the period. Harbor Capital Advisors Inc. boosted its position 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 acquiring an additional 138 shares during the last quarter. Huntington National Bank boosted its position in Best Buy by 12.0% during the third quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock valued at $98,000 after acquiring an additional 139 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in Best Buy by 1.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer’s stock worth $639,000 after acquiring an additional 144 shares during the period. Institutional investors own 80.96% of the company’s stock.

More 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.