Evercore Boosts Best Buy (NYSE:BBY) Price Target to $75.00

Best Buy (NYSE:BBY) had its price target increased by stock analysts at Evercore from $70.00 to $75.00 in a research note issued on Wednesday,MarketScreener reports. Evercore’s target price would indicate a potential upside of 12.85% from the stock’s current price.

Several other equities research analysts have also recently weighed in on BBY. Guggenheim restated a “buy” rating and set a $90.00 target price on shares of Best Buy in a research note on Wednesday. Wedbush lowered their price target on Best Buy from $80.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday, February 24th. Daiwa Securities Group raised their price objective on Best Buy from $76.00 to $80.00 and gave the company a “neutral” rating in a research note on Friday, November 28th. Morgan Stanley decreased their target price on shares of Best Buy from $82.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 15th. Finally, The Goldman Sachs Group dropped their price objective on shares of Best Buy from $95.00 to $93.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. Nine equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Best Buy has an average rating of “Hold” and a consensus target price of $77.25.

Best Buy Price Performance

NYSE BBY traded up $0.51 during midday trading on Wednesday, hitting $66.46. The company had a trading volume of 289,111 shares, compared to its average volume of 4,782,809. The company has a market capitalization of $13.93 billion, a PE ratio of 22.01, a P/E/G ratio of 1.47 and a beta of 1.46. Best Buy has a twelve month low of $54.99 and a twelve month high of $84.99. The company has a current ratio of 1.05, a quick ratio of 0.26 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $66.83 and a 200-day moving average price of $72.90.

Best Buy (NYSE:BBY) last posted its quarterly 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. The business had revenue of $13.81 billion during the quarter, compared to the consensus estimate of $13.96 billion. Best Buy had a return on equity of 50.02% and a net margin of 1.54%.Best Buy’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.58 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, analysts anticipate that Best Buy will post 6.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Best Buy

Several hedge funds and other institutional investors have recently modified their holdings of the company. Sage Private Wealth Group LLC boosted its holdings in Best Buy by 3.1% during the 3rd quarter. Sage Private Wealth Group LLC now owns 4,109 shares of the technology retailer’s stock worth $311,000 after acquiring an additional 123 shares during the last quarter. LVW Advisors LLC grew its holdings in shares of 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 acquiring an additional 137 shares in the last quarter. Harbor Capital Advisors Inc. increased 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 valued at $25,000 after acquiring an additional 138 shares during the last quarter. Huntington National Bank lifted its holdings in Best Buy by 12.0% during the third quarter. Huntington National Bank now owns 1,298 shares of the technology retailer’s stock worth $98,000 after acquiring an additional 139 shares during the period. Finally, Panagora Asset Management Inc. boosted its position in Best Buy by 1.5% in the second quarter. Panagora Asset Management Inc. now owns 9,513 shares of the technology retailer’s stock worth $639,000 after purchasing an additional 144 shares during the last quarter. Institutional investors own 80.96% of the company’s stock.

Best Buy News Roundup

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

• Positive Sentiment: Q4 earnings beat and profit improvement — Best Buy reported $2.61 GAAP EPS vs. consensus ~$2.48 and highlighted margin gains and cost discipline that drove stronger profits despite a small sales decline. MarketWatch: Q4 Results
• Positive Sentiment: Buy-side support remains — Guggenheim reaffirmed a “buy” and a $90 price target, signaling conviction that earnings strength and buyback/dividend support value. Benzinga: Guggenheim Rating
• Positive Sentiment: Operational progress cited by analysts — Coverage notes that a leaner cost structure and improved profitability are driving the post‑earnings rally even as sales soften. 247WallSt: Cost Structure
• Neutral Sentiment: Telsey cut its price target to $80 but kept an “outperform” rating (still a material upside vs. the current price), reflecting mixed long‑term conviction.
• Neutral Sentiment: Piper Sandler trimmed its target to $68 and moved to “neutral,” reducing upside expectations for near‑term performance. Benzinga: Piper Sandler
• Neutral Sentiment: FY‑2027 guidance updated to $6.30–$6.60 EPS (consensus ~6.68) and revenue guidance slightly below street expectations, which tempers the beat and leaves investors weighing near‑term growth headwinds.
• Negative Sentiment: Revenue and same‑store sales weakness — Q4 revenue was $13.81B vs. estimates near $13.96B and comp sales slipped (~‑0.8%), reinforcing that consumers are pulling back on big‑ticket electronics. Yahoo Finance: Revenue Miss
• Negative Sentiment: Company warns of softer annual sales and supply/tariff uncertainty — Best Buy forecast annual sales below Wall Street estimates, a clear headwind to multiple expansion. Reuters: Sales Forecast
• Negative Sentiment: Sell-side critique and structural concerns — A Seeking Alpha piece downgraded BBY to “Sell,” highlighting weak differentiation, e‑commerce vulnerability, and limited near‑term catalysts despite a high dividend yield. 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.