Best Buy (NYSE:BBY) Price Target Lowered to $85.00 at DA Davidson

Best Buy (NYSE:BBY) had its target price reduced by DA Davidson from $90.00 to $85.00 in a research note published on Wednesday morning,MarketScreener reports. They currently have a buy rating on the technology retailer’s stock.

Several other research firms have also recently weighed in on BBY. Evercore reaffirmed a “buy” rating and set a $75.00 target price on shares of Best Buy in a research note on Wednesday. Wells Fargo & Company lowered their price objective on shares of Best Buy from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 18th. Piper Sandler reiterated a “buy” rating on shares of Best Buy in a research note on Wednesday. KeyCorp reiterated a “sector weight” rating on shares of Best Buy in a research report on Wednesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Best Buy in a research note on Wednesday, January 21st. Nine analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $77.15.

Best Buy Price Performance

Shares of NYSE:BBY opened at $67.31 on Wednesday. The company’s fifty day moving average is $66.78 and its two-hundred day moving average is $72.86. The company has a market cap of $14.10 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 1.58 and a beta of 1.46. Best Buy has a 12-month low of $54.99 and a 12-month high of $84.99. 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 (NYSE:BBY) last issued its quarterly earnings results on Tuesday, March 3rd. The technology retailer reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.13. The business had revenue of $13.81 billion for the quarter, compared to the consensus estimate of $13.96 billion. Best Buy had a return on equity of 49.17% and a net margin of 2.56%.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 company posted $2.58 earnings per share. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Equities analysts expect that Best Buy will post 6.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Best Buy

Several institutional investors have recently bought and sold shares of BBY. Vanguard Group Inc. boosted its holdings in shares of Best Buy by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 24,255,320 shares of the technology retailer’s stock worth $1,623,409,000 after buying an additional 307,905 shares during the period. State Street Corp raised its holdings in Best Buy by 3.8% in the 2nd quarter. State Street Corp now owns 13,631,429 shares of the technology retailer’s stock worth $927,753,000 after acquiring an additional 496,215 shares during the period. AQR Capital Management LLC lifted its position in Best Buy by 30.9% during the 4th quarter. AQR Capital Management LLC now owns 9,158,839 shares of the technology retailer’s stock worth $613,001,000 after acquiring an additional 2,160,968 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Best Buy by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,452,642 shares of the technology retailer’s stock valued at $498,805,000 after acquiring an additional 160,713 shares during the period. Finally, Invesco Ltd. grew its position in shares of Best Buy by 6.1% in the fourth quarter. Invesco Ltd. now owns 4,732,080 shares of the technology retailer’s stock valued at $316,718,000 after purchasing an additional 271,988 shares during the last quarter. 80.96% of the stock is currently owned by institutional investors.

Key Best Buy News

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

• Positive Sentiment: Q4 earnings beat and stronger profitability — BBY topped EPS expectations and reported meaningful margin gains driven by higher‑margin Ads and marketplace growth, which is the main driver of the post‑earnings rally. BBY Jumps 7% as Q4 Earnings Beat Signals Strong Strategic Execution
• Positive Sentiment: Dividend increase and strategic initiatives highlighted — Management raised the dividend and emphasized digital marketplace expansion, small format stores and AI initiatives, supporting the narrative of shareholder returns plus structural margin upside. Best Buy Earnings Beat Highlights Shift To Higher Margin Digital Model
• Positive Sentiment: Multiple analyst price‑target raises and reaffirmations — Several firms raised PTs (Evercore, BNP Paribas Exane, Evercore) and Guggenheim reaffirmed a buy, reflecting confidence in margin trajectory despite softer sales. Analyst Price Target Coverage
• Neutral Sentiment: Guidance is cautious but may cap downside — Best Buy set FY‑2027 EPS and revenue ranges slightly below consensus; UBS says the outlook provides a cushion versus downside but limits upside surprise potential. Best Buy’s Fiscal 2027 Outlook Offers Cushion Despite Soft Sales, UBS Says
• Neutral Sentiment: Market context and momentum extension — Post‑earnings analyst coverage and broader market moves (geopolitical/oil pressure on retail) are amplifying intraday volatility; some outlets note continued trading strength off the report. Best Buy Stock Is Continuing Its Rally: What’s Happening?
• Negative Sentiment: Top‑line softness and guidance miss risk — Revenue slightly missed estimates and management forecast tepid sales growth as consumers stay value‑focused, which keeps upside limited and raises sensitivity to consumer weakness. Best Buy forecasts annual sales below estimates (Reuters)
• Negative Sentiment: Analyst concern on near‑term demand — Wedbush flags near‑term demand headwinds tied to memory pricing/shortages and other cyclical pressures; some analysts and sell‑side commentary question longer‑term growth catalysts. Best Buy Facing Near-Term Demand Challenges, Wedbush Says
• Negative Sentiment: Bearish / downgrade views remain — A few sell/downgrade pieces argue there’s limited differentiation and insufficient near‑term catalysts, which could weigh on valuation if sales momentum stalls. 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.