Daiwa Securities Group Cuts Best Buy (NYSE:BBY) Price Target to $68.00

Key Points

• Daiwa Securities cut its price target on Best Buy to $68 from $80 and maintained a "neutral" rating, implying only about 1.71% upside from current levels.
• Best Buy beat Q4 EPS estimates ($2.61 vs. $2.48) but missed revenue ($13.81B vs. $13.96B) and set FY2027 guidance of $6.30–$6.60 EPS, signaling margin improvement amid cautious top‑line trends.
• The analyst picture is mixed—nine Buys, twelve Holds and one Sell—with a consensus "Hold" and an average price target of $76.55, reflecting notable dispersion and recent target cuts.

Best Buy (NYSE:BBY - Get Free Report) had its price objective dropped by analysts at Daiwa Securities Group from $80.00 to $68.00 in a research note issued to investors on Thursday,MarketScreener reports. The firm presently has a "neutral" rating on the technology retailer's stock. Daiwa Securities Group's price objective indicates a potential upside of 1.71% from the stock's current price.

BBY has been the topic of a number of other reports. KeyCorp restated a "sector weight" rating on shares of Best Buy in a report on Wednesday. DA Davidson reduced their price objective on Best Buy from $90.00 to $85.00 and set a "buy" rating on the stock in a research note on Wednesday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Best Buy in a research note on Wednesday, January 21st. Barclays cut their target price on 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. Finally, Wedbush lowered their price target on Best Buy from $80.00 to $70.00 and set a "neutral" rating for the company in a research report on Tuesday, February 24th. Nine analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $76.55.

Best Buy Price Performance

NYSE BBY traded down $0.53 during trading on Thursday, hitting $66.86. 226,915 shares of the stock traded hands, compared to its average volume of 4,802,716. 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 firm has a 50-day simple moving average of $66.78 and a 200-day simple moving average of $72.86. The company has a market capitalization of $14.01 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 1.58 and a beta of 1.46.

Best Buy (NYSE:BBY - Get Free Report) last posted its earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 EPS for the quarter, beating analysts' consensus estimates of $2.48 by $0.13. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.The firm had revenue of $13.81 billion during the quarter, compared to the consensus estimate of $13.96 billion. During the same period in the prior year, the company earned $2.58 EPS. The company's quarterly 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. As a group, analysts predict that Best Buy will post 6.18 EPS for the current year.

Institutional Trading of Best Buy

A number of hedge funds and other institutional investors have recently modified their holdings of BBY. Palisade Asset Management LLC purchased a new position in shares of Best Buy during the 3rd quarter worth approximately $25,000. Harbor Capital Advisors Inc. boosted its position in shares of 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 buying an additional 138 shares during the period. MV Capital Management Inc. acquired a new stake in shares of Best Buy in the fourth quarter valued at $25,000. Torren Management LLC purchased a new stake in shares of Best Buy in the 4th quarter valued at $25,000. Finally, Root Financial Partners LLC acquired a new position in Best Buy during the 3rd quarter worth about $32,000. 80.96% of the stock is owned by institutional investors and hedge funds.

Best Buy News Roundup

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

• Positive Sentiment: Q4 earnings beat and profit improvements — Best Buy reported stronger-than-expected Q4 EPS and a big jump in net income, which traders rewarded. The beat drove the initial rally. BBY Jumps 7% as Q4 Earnings Beat Signals Strong Strategic Execution
• Positive Sentiment: Higher-margin mix: Ads, Marketplace and digital execution — Management highlighted Ads and marketplace growth and margin-driven profit gains (plus a dividend increase), supporting confidence that profitability can outpace soft top-line trends. Best Buy Earnings Beat Highlights Shift To Higher Margin Digital Model
• Positive Sentiment: Analyst support: several firms raised price targets or maintained buy ratings — A number of firms adjusted targets upward (Evercore, BNP Paribas, Citigroup among others), providing additional backing for the post-earnings momentum. Evercore raises PT
• Neutral Sentiment: Guidance is cautious but seen as a cushion — Fiscal 2027 guidance was slightly below consensus but framed by some analysts (UBS) as downside-protective; investors are weighing guidance versus margin traction. Best Buy's Fiscal 2027 Outlook Offers Cushion Despite Soft Sales Assumptions, UBS Says
• Neutral Sentiment: Macro/market noise — Broader market weakness and geopolitical risk (e.g., tensions affecting oil) continue to add volatility for retailers, making short-term moves less predictive. US Equity Markets Lower as War Against Iran Intensifies
• Negative Sentiment: Top-line softness: revenue and comp-sales declined — Quarterly revenue slightly missed estimates and comparable sales fell, a key reason some investors remain cautious about sustainable growth. Best Buy Misses Q4 Revenue Estimates
• Negative Sentiment: Near-term demand concerns from Wedbush — Analysts flagged memory-pricing dynamics and component shortages as headwinds that could pressure sales in the near term. Best Buy Facing Near-Term Demand Challenges, Wedbush Says
• Negative Sentiment: Sell-side divergence and downgrades — Several firms cut or trimmed price targets (and a Sell piece called out limited differentiation), increasing analyst dispersion and signaling risk for longer-term upside. Seeking Alpha Sell Rating

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.