Best Buy (NYSE:BBY) Stock Price Expected to Rise, Daiwa Securities Group Analyst Says

Key Points

• Daiwa Securities Group raised its price target on Best Buy from $68 to $77 while keeping a neutral rating, implying modest upside from the prior close.
• Other analysts have also lifted their targets recently, and MarketBeat’s consensus now shows an average Hold rating with a $79.05 average price target across the analyst group.
• Best Buy’s latest quarter beat expectations, with EPS of $1.28 and revenue of $8.94 billion both topping estimates, supporting the recent improvement in sentiment around the stock.

Best Buy (NYSE:BBY - Get Free Report) had its price target upped by Daiwa Securities Group from $68.00 to $77.00 in a research report issued on Tuesday,MarketScreener reports. The firm currently has a "neutral" rating on the technology retailer's stock. Daiwa Securities Group's price target would suggest a potential upside of 3.97% from the company's previous close.

BBY has been the subject of a number of other reports. Wedbush increased their price target on Best Buy from $70.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday. DA Davidson reissued a "buy" rating and set a $78.00 target price on shares of Best Buy in a report on Friday. Evercore raised their price target on shares of Best Buy from $65.00 to $85.00 in a research note on Friday. Piper Sandler reaffirmed a "neutral" rating and set a $77.00 target price on shares of Best Buy in a research report on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Best Buy from $76.00 to $84.00 and gave the stock a "neutral" rating in a research report on Friday. Six analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $79.05.

Best Buy Trading Down 5.0%

Shares of NYSE BBY opened at $74.06 on Tuesday. Best Buy has a 52 week low of $55.10 and a 52 week high of $84.99. The business has a 50 day simple moving average of $62.51 and a 200 day simple moving average of $66.78. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.40 and a current ratio of 1.12. The stock has a market cap of $15.61 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 2.09 and a beta of 1.30.

Best Buy (NYSE:BBY - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The technology retailer reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.05. The company had revenue of $8.94 billion for the quarter, compared to the consensus estimate of $8.82 billion. Best Buy had a return on equity of 48.70% and a net margin of 2.73%.The company's quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.15 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. On average, research analysts predict that Best Buy will post 6.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kathleen Scarlett sold 8,049 shares of Best Buy stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $515,296.98. Following the transaction, the executive vice president owned 102,669 shares in the company, valued at approximately $6,572,869.38. The trade was a 7.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matthew M. Bilunas sold 11,356 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $727,011.12. Following the completion of the sale, the chief financial officer owned 76,884 shares of the company's stock, valued at $4,922,113.68. The trade was a 12.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 77,247 shares of company stock valued at $4,945,353 in the last 90 days. 0.47% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BBY. Vanguard Group Inc. grew its stake in shares of Best Buy by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 24,255,320 shares of the technology retailer's stock worth $1,623,409,000 after purchasing an additional 307,905 shares during the period. AQR Capital Management LLC lifted its holdings in Best Buy by 30.9% in the 4th quarter. AQR Capital Management LLC now owns 9,158,839 shares of the technology retailer's stock valued at $613,001,000 after purchasing an additional 2,160,968 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Best Buy by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,452,642 shares of the technology retailer's stock valued at $498,805,000 after acquiring an additional 160,713 shares in the last quarter. Invesco Ltd. increased its stake in shares of Best Buy by 6.1% in the 4th quarter. Invesco Ltd. now owns 4,732,080 shares of the technology retailer's stock worth $316,718,000 after acquiring an additional 271,988 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Best Buy by 19.1% in the 4th quarter. Morgan Stanley now owns 3,778,294 shares of the technology retailer's stock valued at $252,881,000 after purchasing an additional 605,911 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors.

Trending Headlines about Best Buy

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

• Positive Sentiment: Best Buy’s latest quarter topped expectations, with revenue of $8.94 billion and EPS of $1.28 both beating forecasts, while the company reiterated its fiscal 2027 outlook and highlighted growth in Marketplace, Best Buy Ads, and new product launches. Best Buy Q1 Earnings Call Highlights Marketplace Growth, CEO Shift
• Positive Sentiment: Jim Cramer turned bullish on BBY, saying investors may be overlooking the company’s strength and highlighting Best Buy’s strong performance and consumer demand trends. Jim Cramer Highlights the Strong Performance of Best Buy
• Positive Sentiment: Another media note pointed to Best Buy’s AI laptop lineup as a possible catalyst for a turnaround, suggesting product innovation could help revive traffic and sales. Best Buy's AI laptop boost sparks hope for a BBY turnaround
• Neutral Sentiment: Coverage from GuruFocus said BBY dropped 3.8% on the day and may now look undervalued, but the note was mainly a valuation discussion rather than a new company-specific catalyst. Best Buy Co Inc (BBY) Stock Down 3.8% -- Now Undervalued? GF Score: 72/100
• Neutral Sentiment: A dividend-focused article highlighted Best Buy’s attractive yield, reinforcing the stock’s income appeal for investors. Should You Buy Best Buy Stock for Its 4.9%-Yielding Dividend?
• Negative Sentiment: One broader market piece grouped BBY among stocks investors should approach with caution, signaling that some Wall Street views remain downbeat despite the recent operating improvement. 3 Unpopular Stocks We Approach with Caution

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.

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