Best Buy (NYSE:BBY) Given New $68.00 Price Target at Piper Sandler

Best Buy (NYSE:BBY) had its price objective lowered by equities researchers at Piper Sandler from $71.00 to $68.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the technology retailer’s stock. Piper Sandler’s price objective would suggest a potential upside of 3.11% from the stock’s previous close.

A number of other research analysts have also weighed in on BBY. Wells Fargo & Company reduced their price objective on shares of Best Buy from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 18th. Barclays decreased their price objective on Best Buy from $81.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 8th. Daiwa Securities Group increased their price objective on Best Buy from $76.00 to $80.00 and gave the stock a “neutral” rating in a report on Friday, November 28th. The Goldman Sachs Group cut their target price on Best Buy from $95.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, November 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Best Buy in a research report on Wednesday, January 21st. Seven research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $78.80.

Best Buy Trading Up 7.1%

Shares of Best Buy stock opened at $65.95 on Wednesday. The stock has a market capitalization of $13.82 billion, a P/E ratio of 21.84, a P/E/G ratio of 1.47 and a beta of 1.46. Best Buy has a 52-week low of $54.99 and a 52-week high of $84.99. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.26 and a current ratio of 1.05. The stock’s 50-day simple moving average is $66.83 and its 200 day simple moving average is $72.90.

Best Buy (NYSE:BBY) last issued its earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.13. Best Buy had a net margin of 1.54% and a return on equity of 50.02%. The firm had revenue of $13.81 billion during the quarter, compared to analyst estimates of $13.96 billion. During the same quarter last year, the business earned $2.58 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. As a group, research analysts anticipate that Best Buy will post 6.18 EPS for the current year.

Hedge Funds Weigh In On Best Buy

A number of hedge funds and other institutional investors have recently modified their holdings of BBY. Tulsa Wealth Advisors INC purchased a new position in shares of Best Buy during the 4th quarter valued at about $2,851,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Best Buy during the fourth quarter valued at about $404,000. Avory & Company LLC increased its stake in Best Buy by 6.4% in the 4th quarter. Avory & Company LLC now owns 3,479 shares of the technology retailer’s stock worth $233,000 after purchasing an additional 210 shares during the period. SG Trading Solutions LLC purchased a new stake in Best Buy during the 4th quarter valued at $207,000. Finally, Phillip James Consulting Co. purchased a new stake in shares of Best Buy during the fourth quarter worth about $233,000. 80.96% of the stock is currently owned by hedge funds and other institutional investors.

More Best Buy News

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

• Positive Sentiment: EPS beat and profit resilience — Best Buy reported adjusted EPS of $2.61, above estimates, and highlighted margin improvement that reassured investors despite weaker sales; this beat is a primary driver of the rally. Best Buy (NYSE:BBY) Misses Q4 CY2025 Revenue Estimates, But Stock Soars 13.3%
• Positive Sentiment: Leaner cost structure boosting profits — Management pointed to operating efficiencies and lower costs that helped lift profitability even as top-line softness continued, a theme analysts credited for the post-earnings move. Best Buy’s Leaner Cost Structure Drives Post-Earnings Rally
• Positive Sentiment: Company narrative on digital/AI and services — Management emphasized investment in digital experiences and AI-enabled services as a way to drive higher-margin sales and customer engagement, which calms some investor concerns about secular competitiveness. Best Buy Bets on AI as Consumers Avoid Big-Ticket Items
• Neutral Sentiment: Revenue and comparable-sales weakness — Q4 revenue missed consensus (about $13.81B vs. ~$13.96B expected) and same-store sales fell modestly, signaling continued demand pressure even as EPS outperformed. Best Buy Reports Fourth Quarter Results
• Neutral Sentiment: Mixed analyst commentary — Some outlets framed the print as a clean beat on profits but called the overall picture mixed due to soft holiday sales and cautious tone from management; these balanced takes leave near-term sentiment sensitive to guidance details. Best Buy Is Today’s Top S&P 500 Stock. Why Weak Guidance Doesn’t Matter.
• Negative Sentiment: Weak forward guidance on sales — Best Buy issued FY2027 guidance below Street revenue expectations and signaled tepid growth as consumers hunt for value, a key negative that tempers the EPS beat. Best Buy forecasts annual sales below estimates
• Negative Sentiment: Sell-side downgrade and structural concerns — A noted downgrade argued Best Buy lacks differentiation and has e-commerce vulnerabilities versus larger rivals, raising the risk that profits could be cyclical rather than secular. Best Buy: No Compelling Reason To Own (Rating Downgrade)

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.