Loop Capital Has Lowered Expectations for Best Buy (NYSE:BBY) Stock Price

Key Points

• Loop Capital cut its price target on Best Buy from $85 to $82 but kept a buy rating, implying about 7.4% upside from the prior close.
• Analyst views remain mixed overall: Best Buy has a consensus Hold rating, with an average target price of $79.50 across brokerages despite some bullish calls from Jefferies and DA Davidson.
• The company recently reported better-than-expected quarterly results, with EPS of $1.28 on revenue of $8.94 billion, while insiders also sold shares and several recent leadership transition headlines have kept investors focused on execution and governance.

Best Buy (NYSE:BBY - Get Free Report) had its price target decreased by investment analysts at Loop Capital from $85.00 to $82.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm presently has a "buy" rating on the technology retailer's stock. Loop Capital's target price would indicate a potential upside of 7.42% from the company's previous close.

Several other brokerages also recently issued reports on BBY. The Goldman Sachs Group raised their price target on Best Buy from $59.00 to $62.00 and gave the company a "sell" rating in a research report on Friday, May 29th. Jefferies Financial Group upped their target price on shares of Best Buy from $83.00 to $89.00 and gave the stock a "buy" rating in a research note on Thursday, May 28th. DA Davidson reissued a "buy" rating and issued a $90.00 target price on shares of Best Buy in a research note on Monday. BNP Paribas Exane increased their price objective on shares of Best Buy from $74.00 to $76.00 and gave the stock a "neutral" rating in a research note on Friday, May 29th. Finally, Wedbush increased their price objective on shares of Best Buy from $70.00 to $75.00 and gave the company a "neutral" rating in a research note on Friday, May 29th. Six research 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.com, the company presently has a consensus rating of "Hold" and an average target price of $79.50.

Best Buy Stock Up 1.6%

Shares of NYSE BBY opened at $76.33 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 1.12 and a debt-to-equity ratio of 0.38. The firm has a market cap of $16.09 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 2.02 and a beta of 1.30. Best Buy has a 52-week low of $55.10 and a 52-week high of $84.99. The business's 50 day moving average is $66.08 and its two-hundred day moving average is $66.56.

Best Buy (NYSE:BBY - Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, beating the consensus estimate of $1.23 by $0.05. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The company had revenue of $8.94 billion during the quarter, compared to analysts' expectations of $8.82 billion. During the same quarter last year, the company posted $1.15 EPS. The firm's revenue was up 1.9% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Research analysts predict that Best Buy will post 6.56 EPS for the current year.

Insider Transactions at Best Buy

In related news, CAO Mathew Watson sold 1,784 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $73.80, for a total transaction of $131,659.20. Following the completion of the transaction, the chief accounting officer directly owned 21,630 shares of the company's stock, valued at approximately $1,596,294. This represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Richard M. Schulze sold 500,350 shares of the business's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $76.12, for a total value of $38,086,642.00. Following the sale, the chairman owned 10,930,586 shares of the company's stock, valued at approximately $832,036,206.32. This represents a 4.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 583,533 shares of company stock worth $44,584,972 in the last three months. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Best Buy

Large investors have recently added to or reduced their stakes in the business. Huntington National Bank lifted 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. Krane Funds Advisors LLC grew its position in shares of Best Buy by 3.0% during the fourth quarter. Krane Funds Advisors LLC now owns 5,163 shares of the technology retailer's stock worth $346,000 after buying an additional 151 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its position in shares of Best Buy by 0.9% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 16,637 shares of the technology retailer's stock valued at $1,114,000 after acquiring an additional 152 shares in the last quarter. Applied Finance Capital Management LLC lifted its stake in shares of Best Buy by 3.8% during the 4th quarter. Applied Finance Capital Management LLC now owns 4,270 shares of the technology retailer's stock worth $286,000 after purchasing an additional 157 shares during the period. Finally, International Private Wealth Advisors LLC increased its position in Best Buy by 5.2% in the fourth quarter. International Private Wealth Advisors LLC now owns 3,345 shares of the technology retailer's stock worth $224,000 after buying an additional 165 shares during the period. Institutional investors own 80.96% of the company's stock.

Trending Headlines about Best Buy

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

• Positive Sentiment: Jefferies said Best Buy is entering a new growth phase under incoming CEO Jason Bonfig, citing replacement cycles, product innovation, and category complexity as tailwinds for higher industry growth and stronger expansion at BBY. Best Buy seen entering growth phase under incoming CEO, says Jefferies
• Positive Sentiment: DA Davidson reaffirmed its buy rating on Best Buy and raised its price target to $90, signaling meaningful upside from recent trading levels and reinforcing a bullish view on the retailer. Benzinga analyst note
• Positive Sentiment: Best Buy announced that it is the only national retailer offering RGB LED TVs from Samsung, Sony, LG, TCL, and Hisense, highlighting a major new product cycle that could drive store traffic and premium TV sales. Best Buy introduces RGB LED TVs to stores nationwide, ushering new era of home theater
• Neutral Sentiment: Best Buy disclosed that CFO Matt Bilunas will step down on July 31, with CEO Corie Barry handling interim financial oversight while the company searches for a successor. The move adds some near-term uncertainty, but management says the transition is planned and orderly. Best Buy Announces Chief Financial Officer Transition
• Neutral Sentiment: Commentary around Best Buy’s CEO transition and succession planning has kept investor attention on governance, but analysts have largely framed the leadership changes as manageable rather than disruptive. How Investors May Respond To Best Buy (BBY) CFO Transition And Succession Planning Shift

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.

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