Daiwa Securities Group Raises Best Buy (NYSE:BBY) Price Target to $77.00

Best Buy (NYSE:BBY) had its price objective upped by investment analysts at Daiwa Securities Group from $68.00 to $77.00 in a research report issued on Tuesday,MarketScreener reports. The brokerage currently has a “neutral” rating on the technology retailer’s stock. Daiwa Securities Group’s target price points to a potential upside of 3.97% from the company’s previous close.

A number of other equities research analysts also recently commented on BBY. HSBC reduced their price objective on shares of Best Buy from $96.00 to $85.00 in a research report on Thursday, February 26th. JPMorgan Chase & Co. boosted their target price on shares of Best Buy from $76.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday. UBS Group reiterated a “neutral” rating and issued a $86.00 price objective (up from $85.00) on shares of Best Buy in a research note on Friday. Telsey Advisory Group set a $90.00 price target on Best Buy and gave the stock an “outperform” rating in a research note on Friday. Finally, Citigroup lifted their price objective on Best Buy from $60.00 to $79.00 and gave the stock a “neutral” rating in a report on Friday. Six investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Best Buy has a consensus rating of “Hold” and an average price target of $79.05.

Best Buy Stock Performance

Shares of BBY stock opened at $74.06 on Tuesday. The firm 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 has a 1 year low of $55.10 and a 1 year high of $84.99. The stock’s 50-day moving average is $62.51 and its two-hundred day moving average is $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.

Best Buy (NYSE:BBY) last announced its earnings results on Thursday, May 28th. The technology retailer reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.05. The business had revenue of $8.94 billion during the quarter, compared to analysts’ expectations of $8.82 billion. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.15 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Analysts predict that Best Buy will post 6.5 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Kathleen Scarlett sold 8,049 shares of the company’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $64.02, for a total value of $515,296.98. Following the completion of the sale, the executive vice president owned 102,669 shares of the company’s stock, valued at $6,572,869.38. This represents a 7.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jason J. Bonfig sold 6,336 shares of Best Buy stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $64.02, for a total transaction of $405,630.72. Following the sale, the executive vice president directly owned 79,137 shares in the company, valued at $5,066,350.74. This trade represents a 7.41% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 77,247 shares of company stock valued at $4,945,353. 0.47% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Best Buy by 2.4% during the third quarter. Vanguard Group Inc. now owns 23,947,415 shares of the technology retailer’s stock worth $1,810,904,000 after buying an additional 552,360 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of Best Buy by 100.6% during the 4th quarter. Concurrent Investment Advisors LLC now owns 70,280 shares of the technology retailer’s stock valued at $4,704,000 after acquiring an additional 35,239 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in shares of Best Buy during the 4th quarter worth $1,741,000. Allianz Asset Management GmbH grew its holdings in shares of Best Buy by 5.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,639,202 shares of the technology retailer’s stock worth $123,956,000 after acquiring an additional 89,057 shares during the last quarter. Finally, Waratah Capital Advisors Ltd. purchased a new stake in shares of Best Buy during the third quarter valued at $3,032,000. 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.