Best Buy (NYSE:BBY) Price Target Raised to $95.00 at Guggenheim

Key Points

• Guggenheim raised Best Buy’s price target to $95 from $90 and maintained a “buy” rating, implying 13.41% upside from the reported $83.77 share price.
• Best Buy exceeded quarterly expectations, reporting $1.47 in EPS and $9.78 billion in revenue, while comparable sales rose 4.1%. Management also increased fiscal 2027 adjusted EPS guidance to $6.70–$6.90.
• Analyst sentiment remains mixed, with the stock carrying a consensus “hold” rating and an $84.45 target; concerns include cautious consumers, thin margins, declining international revenue, insider selling and an upcoming CEO transition.

Best Buy (NYSE:BBY - Get Free Report) had its price objective hoisted by investment analysts at Guggenheim from $90.00 to $95.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the technology retailer's stock. Guggenheim's target price would suggest a potential upside of 13.41% from the company's current price.

Other research analysts have also issued reports about the company. Jefferies Financial Group lowered Best Buy from a "buy" rating to a "hold" rating and decreased their price objective for the company from $89.00 to $85.00 in a research report on Wednesday, August 5th. Truist Financial set a $100.00 price target on Best Buy in a research note on Thursday. KeyCorp reiterated a "sector weight" rating on shares of Best Buy in a report on Monday, June 22nd. DA Davidson reissued a "buy" rating and set a $90.00 price objective on shares of Best Buy in a report on Monday, June 22nd. Finally, Wells Fargo & Company raised their target price on shares of Best Buy from $65.00 to $85.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 11th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $84.45.

Best Buy Price Performance

Shares of BBY stock opened at $83.77 on Friday. Best Buy has a 1 year low of $55.10 and a 1 year high of $91.26. The company has a current ratio of 1.12, a quick ratio of 0.40 and a debt-to-equity ratio of 0.38. The firm's 50 day moving average is $83.01 and its 200-day moving average is $71.26. The firm has a market capitalization of $17.66 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 2.50 and a beta of 1.29.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings results on Thursday, August 27th. The technology retailer reported $1.47 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.08. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The business had revenue of $9.78 billion during the quarter, compared to analyst estimates of $9.59 billion. During the same quarter last year, the business posted $1.28 earnings per share. Best Buy's revenue for the quarter was up 3.6% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.700-6.900 EPS. Sell-side analysts forecast that Best Buy will post 6.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other Best Buy news, Chairman Richard M. Schulze sold 224,705 shares of Best Buy stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $78.10, for a total value of $17,549,460.50. Following the transaction, the chairman owned 10,430,936 shares of the company's stock, valued at approximately $814,656,101.60. The trade was a 2.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 500,000 shares of company stock valued at $39,065,226 over the last 90 days. Insiders own 0.50% of the company's stock.

Institutional Investors Weigh In On Best Buy

A number of hedge funds and other institutional investors have recently made changes to their positions in BBY. Corient Private Wealth LP boosted its stake in Best Buy by 33.0% in the 2nd quarter. Corient Private Wealth LP now owns 239,382 shares of the technology retailer's stock worth $18,165,000 after purchasing an additional 59,376 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Best Buy in the 2nd quarter valued at about $15,259,000. California State Teachers Retirement System lifted its holdings in shares of Best Buy by 8,279.9% in the second quarter. California State Teachers Retirement System now owns 22,175,854 shares of the technology retailer's stock valued at $1,682,704,000 after purchasing an additional 21,911,223 shares in the last quarter. Saudi Central Bank lifted its holdings in shares of Best Buy by 89.3% in the second quarter. Saudi Central Bank now owns 13,906 shares of the technology retailer's stock valued at $1,055,000 after purchasing an additional 6,559 shares in the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich boosted its position in shares of Best Buy by 80.0% during the second quarter. Munich Reinsurance Co Stock Corp in Munich now owns 92,464 shares of the technology retailer's stock worth $7,016,000 after buying an additional 41,092 shares during the period. 80.96% of the stock is currently owned by institutional investors and hedge funds.

Key Best Buy News

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Q2 results exceeded expectations. Revenue rose 3.6% year over year to $9.78 billion, above the $9.59 billion consensus estimate, while adjusted EPS of $1.47 surpassed estimates near $1.39 and increased from $1.28 a year earlier. Best Buy Reports Second Quarter Results
• Positive Sentiment: Comparable sales showed improving momentum. Enterprise comparable sales grew 4.1%, led by 4.5% growth in the domestic segment. Computing products, technology upgrades, replacements, AI glasses and collectibles reportedly supported demand. Best Buy tops quarterly estimates, raises outlook as computing shows strength
• Positive Sentiment: Management raised its fiscal 2027 outlook. Adjusted EPS is now forecast at $6.70–$6.90, up from $6.30–$6.60, while revenue guidance increased to $42.3–$42.8 billion. Both ranges are above analyst expectations. Best Buy raises annual sales forecast on steady electronics demand
• Positive Sentiment: Shareholder returns remain attractive. Best Buy declared a quarterly dividend of $0.96 per share, equivalent to approximately $3.84 annually and a reported yield of about 4.6%, subject to the stated September 17 ex-dividend and record dates.
• Neutral Sentiment: Best Buy is expanding its omnichannel strategy through smaller-format stores and “Ask Blue,” a conversational artificial-intelligence assistant intended to improve online and in-store customer engagement. Best Buy Expands Omnichannel Footprint With OpenAI Integration and Smaller-Format Stores
• Negative Sentiment: BBY shares decreased despite the earnings beat. The market reaction suggests investors may have already priced in a strong quarter, while concerns remain about cautious consumers, thin retail margins and the sustainability of the computing-led improvement. International revenue also declined year over year. Best Buy shares fall despite Q2 earnings and revenue beat
• Negative Sentiment: An incoming CEO transition adds an additional execution variable as Best Buy works to sustain sales growth and improve its longer-term retail trajectory.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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